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HomeMy WebLinkAboutMINUTES - 12142004 - C.114 TO: BOARD OF SUPERVISORS ' L " Contra FROM: JOHN SWEETEN, Costa � �,� COUNTY ADMINISTRATOR , DATE: December 14, 20014 County SUBJECT: EMPLOYEE RETIREMENT PLAN CONTRIBUTION RATES FOR FISCAL YEAR 2005-06 SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION RECOMMENDATION: ADOPT the attached resolution approved by the Retirement Board, which establishes the retirement plan contribution rates for employers and employees effective July 1 , 2405 through June 30, 2045. BACKGROUND: Each year, the Retirement Board establishes contribution rates for employee retirement plans based on an annual actuarial valuation study. Last September, the Retirement Board adopted the attached resolution establishing employee and employer rates for Tier 1, Tier 11, Tier III and Safety retirement plans for the 2005-45 fiscal year. These rates will be included in the forecast for the 2405-05 budget. CONTINUED ON ATTACHMENT: "`'YES SIGNATURE: RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BO COMMITTEE APPROVE OTHER SIGNATURES 1 ACTION OF 1301 ON F. � #, i '. •s ' ;t APPROVED AS RECOMMENDED OTHER I � VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT COPY OF AN ACTION TAKEN AND ENTERED ON MINUTES OF THE BOARD OF SUPERVISORS ON THE DATE SHOWN. UNANIMOUS(ABSENT 9 ) AYES: NOES: ABSENT: ABSTAIN: Contact: ' Cc: Steve Ybarra,Auditor's Office ATTESTED „tE x._ P,> µ �; s A' -,.2 �. JOHN SWEETEN,CLERK OF THE, OARD OFSUPERVISORS DEPUTY f N a THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY,CALIFORNIA Adopted this Order on prCgXBEjZt 4Y-2004 >by the following vote: AYES: SUPERVISORS GIOIA, UILKEMA, GREENBERG AND DeSAULNIER NOES: NONE ABSENT: SUPERVISOR FEDERAL D. GLOVER ABSTAIN: NONE rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr■rrrrrrrrrrrrrrr SUBJECT: Approving Contribution Rates to be charged and Resolution No2004 653 Interest to be credited,by the Contra Costa County Employees' Retirement Association. Pursuant to Government Code Section 31454 and on recommendation of the Board of the Contra Costa County Employees' Retirement Association,BE IT RESOLVED that the following contribution rates are approved to be effective for the period July 1, 2005 through June 30, 2006. I. Basic Retirement Benefit Rate Component (payable as a%of compensation) County* District* For General Members Under the"1.67% at 55"benefit schedule(Sec. 31676.11) 1. General Members--Tier I covered by Social Security, N On the first$350 ofearnable monthly compensation: 9.55% 12.46% O' On earnable compensation in excess of$350 monthly: 14.33% 18.69% N 2. General Members—Tier I not covered by Social Security: 14.33% 18.69% 3. General Members—Tier II: 11.80% 16.04% E 4. General Members -Tier III: N On the first$350 of earriable monthly compensation: 8.83% 12.42% H On earnable compensation in excess of$350 monthly: 13.25% 18.04% A N For Safety Members Under the"2% at 50" benefit schedule C 1. Safety Members: NA 20.91% E D C. For Employee Rates under the above benefit schedules — See attached rate sheets A, B, C and D. D. For General Members Under the"2% at 55"benefit schedule(Sec. 31676.16) 1. General Members—Tier I covered by Social.Security, On the first$350 of earnable monthly compensation: 10.98% 13.86°/, E On earnable compensation in excess of$350 monthly: 16.47% 20.79% N 2. General Members--Tier I not covered by Social Security: 16.47% 20.79% H 3. General Members -Tier Ill: A On the first$350 of earnable monthly compensation: 9.79% 13.01% N On earnable compensation in excess of$350 monthly: 14.68% 19.51% C E E. For Safety Members tinder the 113% at 50" benefit schedule(Sec. 31664.1) D 1. Safety Members: 28.27% 36.72% F. For Employee Rates under the above benefit schedules — See attached rate sheets E, F and G. C/) a� ADMINISTRATION CONTRIBUTIONS (Resolution) II. Cost of Living Program ate Component payable as a%of compensation) Gounjj* District* A. For General Members Cinder the'*1.67% at 55" benefit schedule (See. 31676.11) 1. General Members--Tier I covered by Social Security, N On the first$350 of earnable monthly compensation: 3.03% 5.28% 0 On earrTable compensation in excess of$350 monthly: 4.55% 7.93% N 2. General Members-Tier I not covered by Social Security: 4.55% 7.93%0 3. General Members--Tier 11: 4.53% 7.81% 4. General Members -Tier III: EOn the first$350 ofearnable monthly compensation: 3.03% 5.31% Non earnable compensation in excess of$350 monthly: 4.55% 7.97%n A . For Safety Members fender the "2% at 50" benefit schedule C 1. Safety Members: NA 11.52% E E . For Employee Rates under the above benefit schedules See attached rate sheets A, B, C and D. D. For General Members Under the"2% at 55" benefit schedule(Sec. 31676.16) 1. General Members--Tier I covered by Social Security, On the first$350 of earnable monthly compensation: 3.81% 6.04% E On earnable compensation in excess of$350 monthly: 5.72% 9.07% N 2. General Members-Tier I not covered by Social Security: 5.72% 9.07%0 N 3. General Members _Tier III: A On the first$350 of earnable monthly compensation: 3.30% 5.60% N On earnable compensation in excess of$350 monthly: 4.96% 8.41% C E E. For Safety Members Cinder the"3% at 50"benefit schedule (See. 31664.1) D 1. Safety Members: 10.63% 18.50% F. For Employee Rates under the above benefit schedules See attached rate sheets E, F and G. 111. Non-refundability Discount Factors Because payments made under agreement,by the employer on behalf of employees are non-refundable, they shall be paid at the follriu,ing rates Benefit Schedule Non-Enhanced Enhanced General Tier 1: .9962 .9974 General Tier 11: .9879 na General Tier 111: .9999 .99.56 Benefit Schedule Non-Enhanced Enhanced Safety: .9974 .9952 ADMINISTRATION CON T'RISUT104NS (Resolution) ............................ *The Pension Obligation Bonds issued by the County in March 1994 and April 2003, affected contribution rates for certain County employers. The following non-County employers who participate in the Retirement Association are referred to as "Districts''. All other departments/employers are referred to as "County". *Bethel Island.Municipal Improvement District *Byron, Brentwood Knightsen Union Cemetery District *Central Contra Costa Sanitary District *Contra Costa County Employees' Retirement Association *Contra Costa Housing Authority *Contra Costa Mosquito and'Vector Control District *Diablo'Water District *Local Agency Formation Commission *Ironhouse Sanitary District *Rodeo Sanitary District *In-Dome Supportive Services Authority *Children &Families Commission *Contra Costa County Fire Protection District *Moraga/Orinda Fire Protection District *Rodeo-Hercules Fire Protection District *San Ramon Valley Fire protection District ADMINISTRATION CONTRIBUTIONS (Resolution) )MPLOYER RATES FOR DISTRIC'r � AT VARYING SUBVENTION LEVET. NON-ENHANCED BENEFITS Eff, July 1, 2005 Subvention Levels 50% 80% 85% 90% 95% 100% TIER I (Aggregate) Basic 18.26% 18.2+6% 18.26% 18,26% 18.26% 18,25% Subvention 3,62% 5,79% x.15% 6,52.% 6188% Z2.4% Basic+Subvention 21.88% 24.05% 24.41% 24.78% 25.14% 25.50% COL 71 Z-7510 7,75% 7,75% Z75% 7,75% Total 29.63% 31,80% 32.16% 32.53% 32.89% 33.25% TIER 11 Basic 16.04% 16.04% 16,04% 16.04% 16.04% 16.04% Subvention J AE% 2.4Y 2,48% 2,63% 2.Z7% 2.92% Basic+Subvention 17.50% 18,38% 18.52% 18.67% 18.81% 18.96% Total 25.31% 26.19% 26.33% 26.48% 26.62% 26.77% TIER III(Aggregate) Basic 17.74% 17.74% 17.74% 17.74% 17.74% 17.74% Subvention 3,77% 6,03% 6.41% 6,79% 7.1.6% 7,54% Basic+ Subvention 21.51% 23.77% 24,15% 24.53% 24.90% 25.28% COL 7,841 7,84.1° 7.a4% 7,84 ZaBA% 7,84% Total 29.35010 31.61% 31.99% 32.37% 32.74% 33.12% SAFETY Basic 20.91% 20.91% 20.91% 20.91% 20.91% 20,91% Subvention 4&7?,,� 7.47% L94% £L4I% 8,87% 9,34% Basic+ Subvention 25.58% 28.38% 28.85% 29.32% 29.78% 30.25% COL 11,52% 11.E 11.5.'22 11,52% 11,52% 1, Total 37.10% 39,90% 40.37% 40.84% 41.30% 41.77% All rates above are as a percent of payroll. Employee contribution rates vary depending upon their age at entry. For this reason, subvention percents above are averages for that coverage category. To compute the exacLsubvention percent for each employee,do the following: 1.Find the employee's basic contribution rate on the attached charts using the coverage category and the employee's entry age. Only the Basic rate can be subvented. 2.Multiply this by your subvention percent(le.50%,70%,85%,etc.). 3.Multiply this result by the reduction factor for that employment category: Tier 1 .9962 Tier 11 .9879 Tier 111 .9999 Safety .9974 CAUTION - These rates are for employer subvention NOT employer pick-up of employee contribution rates. When an employer subvents,the contribution subvented is not placed In the member's account and is therefore not available to the member as a refund. For this reason,the employer pays the contribution at a discount(le.The "reduction factor'). Employer pick-ups of employee contributions are those made under Section 414(h}(2)of the Internal Revenue Code. These contributions=added to the member's account,are available to the member as a refund,and are considered by the retirement system as part of the member's compensation for retirement purposes, µMQ PLOYER RATES FOR UISTRIC J AT VARYING SUBVENTION LEVELS ENHANCED BENEFITS Bff.,July 1, 2005 Subvention Levels 50% 80% 85% 90% 95% 100% TIER I (Aggregate) Basic 20.35% 20.35% 20.35% 20.35% 20.35% 20.35% Subvention 2,97.% 4,75%.5% 5,05% 5,151. 5,64% 5, Basic + Subvention 23.32% 25.10% 25.40% 25.70% 25.99% 26.29% COL 10% 8.88 B,88% laaya 8.aa% 8,88010 Total 32.20% 33.98% 34.28% 3428% 34.87% 38.17010 TIER III (Aggregate) Basic 19.12% 19.12% 19.12% 19.12% 19.12% 19.12% Subvention 3,22% 115% 5.47% 5.B0% 6,44% Basic + Subvention 22.34% 24.27% 24.59% 24.92% 26.24% 25.56% COL 8.23% $.23% 8,23% 8,,23% 8,23% 8,23% Total 30.57% 32.50% 32.82% 33,15% 33.47% 33.79% SAFETY Basic 36.72% 36.72% 36.72% 36.72% 36.72% 36.72% Subvention 4.5.E 7,25% 710% BAWL 161% 9.0% Basic+ Subvention 41.25% 43.97% 44.42% 44.87% 45.33% 45.78% COL 1.&_5D3� 15.5.01 18,50% laU3i 18.50Y2 18,50 Total 59.75% 62.47% 62.92% 63.37% 63.83% 64.28% All rates above are as a percent of payroll. Employee contribution rates vary depending upon their age at entry. For this reason; subvention percents above are averages for that coverage category. To compute the e acLsubvention percent for each employee,do the fallowing: 1.Find the employee's basic contribution rate on the attached charts using the coverage category and the employee's entry age. Only the Basic rate can be subvenfed. 2.Multiply this by your subvention percent(ie.50%,70%,85%,etc.). 3.Multiply this result by the reduction factor for that employment category: Tier l .9974 Tier!ll .9956 Safety .9952 CAUTION - These rates are for employer subvention NOT employer pick-up of employee contribution rates. When an employer subvents,the contribution subvented is not placed in the member's account and is therefore not available to the member as a refund. For this reason,the employer pays the contribution at a discount(ie.The "reduction factor"). Employer pick-ups of employee contributions are those made under Section 414(h)(2)of the Internal revenue Code. These contributions am added to the member's account,are available to the member as a refund,.and are considered by the retirement system as part of the member's compensation for retirement purposes. CONTRA COS—_ COUNTY EMPLOYEES'RETIREMEI' -ASSOCIATION ADJUSTING RATES TO REFLECT EMPLOYEE PAYMENT OF EMPLOYER COST A provision in the law allows safety members to defray the employer cost for the "3% at 50" enhanced benefit. If you are providing the"3% at 50"enhanced benefit to your safety employees and if your employees have agreed to defray part of your increased cost, you will need to adjust both employee and employer rates: Employee rate—Increase the employee's rate by the cost-sharing percent of payroll agreed upon. Employer rate—Decrease the employer's rate by a percent of the cost-sharing percent of payroll using the Safety refundability factor(9952 for FY 2005-06) EXAMPLE: If the cost-sharing percent is 9.0%, Employee rates should be increased by 9.0%. The employer rate should be decreased by (9.0010 x .9952) 8.9568% rate sub chap-t.7.1.45.eexost.sharing.doc TIER I -`'1 .67% 55" (Non-Enhanced) Effective 7/1/05 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) Entry Basic COLA Total F'I'RST$350 OVER-$35 FIRST$350 QV`R '350 FIRST$350 OVER 350 15 5.17% 7.76% 2.86% 4.294% 8.03% 12.05% 16 5.12% 7.68%m Z.83% 4.24% 7.95% 11.92% 17 5,07% 7.60% 2.80% 4.20% 7.87% 11.80"/0 18 5.02% 7.53% 2.77% 4.16% 7,79% 11,69% 19 4,98% 7.47% 2.75% 4.137 7.73% 11.60% 20 4.95% 7.42% 2.73% 4.10%0 7.68% 11.52% 21 4.92% 7.38% 2.72% 4.08% 7.64% 11.46% 22 4.89% 7.34% 2.71`!0 4,06% 7.60% 11.40% 23 4.88% 7.32`10 2.70% 4.05% 7.58% 11.37% 24 4.87% 7.31% 2.69% 4.04% 7.56% 11.35% 25 4.87% 730`!0 2.69% 4M% 7.56% 11.33% 26 4.87% 7.30% 2.69% 4.03% 7.56% 11.33% 27 4.87% 7,30% 2,69% 4.03% 7.56% 11.33% 28 4.87% 7.31% 2.69% 4.04% 7.56% 11.35% 29 4.88% 7.32% 2.701% 4.05% 7.587 11.3770 30 4.89% 7.34% 2.71% 4.06% 7.60% 11.40% 31 4.91% 7,36% 2.71% 4.07% 7.62% 11.43`10 32 4,93% 7.39% 2.72% 4.08% 7.65% 11.47% 33 4,95% 7.42`!0 2.73% 4.10% 7.68% 11.52% 34 4.97% 7.46% 2.75% 4.12% 7.72% 11,58% 35 5.00% 7.50% 2,76% 4.14% 7.76% 11.64% 36 5.03% 7.54% 2,78% 4.17% 7.81% 11.71% 37 5.06% 7.59% 2.79% 4.19`!0 7.85% 11.78% 38 5D9% 7.64% 2,81% 4.22% 7.90% 11.86% 39 5.13% 7.70% 2.84% 4.2610 7.97% 11.96% 40 5,17% 7.75% 2.85% 4.28% 8.02% 12.03% 41 5.21% 7.81% 2.88% 4.32% 8.09% 12.13% 42 5.25% 7.87% 2.90% 4.35% 8,15% 12.22% 43 529% 7.94% 2.+. 3% 4.39% 8.22% 12.33% 44 5.35% 8.02% 2.95% 4.43% 8.30% 12.45% 45 5.39% 8.08% 2.98% 4.47% 8.37% 12.55% 46 5,44% 8.16% 3.01% 4.51% 8.45% 12.67% 47 5.49% 8.23% 3.03% 4.55% 8.52% 12.78% 48 5.55% 8.32% 3.07% 4.60% 8.62% 12.92% 49 5.59% 8.39% 3.09% 4.64% 8.68% 13.03% 50 5.65% 8.47% 3.12% 4.68% 8.77% 13.15% 51 5.72% 8.58% 3.167 4.74% 8.88% 13.32% 52 5.78% 8.67% 3.19% 4.79% 8.97% 13.46% 53 5.83% 8.74% 3.22% 4.83% 9.05% 13.57% 54 5.85% 8.77% 3.23% 4.85% 9.08% 13.62% 55 5.85% 8.77% 3.23% 4.85% 9.08% 13.62% 56 5.85% 8.77% 3.23% 4.85% 9.08% 13.62% 57 5.85% 8.77% 3.23% 4.85% 9,08% 13.62% 58 5.85% 8.77% 3.23% 4.85% 9.08% 13.62% 59 5.85% 8.77% 3.23% 4.85% 9.08% 13.62% 60 5.85% 8.77% 3,23% 4.85% 9.08% 13.62% COLA Loading Factor: 55.26% "•NOTE. All rotes above assume the employee is covered under Social Security. If the employee is not under Social Security,use the"OVER$350"rate and apply it to all reported compensation. f enMemkates unenhonced.7.1.05.xls Exhibit A __ YI "1.137 0 55„ Effective 7/1/05 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) ED=!ut Basic !20 Total 15 2.94% 1.62% 4.56 16 2,91% 1.61%4 4.52% 17 2.88% 1.59% 4.47%4 18 2.85% 1.57% 4.42% 19 2.83%4 1.36% 4.39%4 20 2.81% 1.55% 4.36%4 21 2.79% 1.54% 4.33%4 22 2.78% 1.54% 4.32 23 2.77`/n 1.53% 4.30% 24 2.77%4 1.53%4 4.30%4 25 2.76%4 1.53%4 4.29%4 26 2.76% 1.53% 4.29% 27 2.77% 1.53% 4.30% 28 2.77% 1.53% 4.30%4 29 2.77% 1.53% 4.30% 30 2.78% 1.54% 4.32%4 31 2.79%4 1.54% 4.33% 32 2.80% 1.55% 4.35 33 2.81% 1.55% 4.36% 34 2.82% 1.56% 4,38 35 2.84% 1.57% 4.41% 36 2.86% 1.58% 4.44% 37 2.87% 1.59% 4.46% 38 2.89% 1.60% 4.49% 39 2.91% 1.61% 4.52%4 40 2.93% 1.62% 4.55% 41 2.96% 1.64% 4.60%4 42 2.99% 1.65%4 4.644l-- 43 3.01% 1.66% 4.67% 44 3.034% 1.68% 4.72%4 45 3.06%4 1.69% 4.75%n 46 3.09%4 1.71% 4.80% 47 3.12% 1,72% 4,84%4 48 3.14% 1.74% 4.88%4 49 3.18% 1.76% 4.94% 50 3.21% 1.77%4 4.98% 51 3.25% 1.80% 5.05%4 52 3.30% 1.82% 5.12%4 53 3.44% 1.90414 5.34%4 54 3.51% 1.94`14 5.45% 55 3.51% 1.94% 5.45% 56 3.51%4 1.94%4 5,45%4 57 3.51% 1.94% 5,45 58 3.51% 1.94%4 5.45%4 59 3.51414 1.94% 5.45 60 3.51% 1.94%4 5.45% COLA loading Factor: 55.26% 6enMemRates unenhanced.7.1,O5.xls Exhibit$ TIER 222 11.67% @ 55" (Non-Enhanced) Effective 7/1/05 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) Entry Basic COLA Total FTPST_35t7 O ER 350 FIRST$350 OYER 380 FIRST$350 OVER 1350 15 5.17%4 7.76%4 1.94% 2.41%4 7,11%4 10.67% 16 5.12% 7.68% 1.92% 2.88%4 7.04% 10.56% 17 5.07% 7.60% 1.40% 2.85% 6.97% 10.45% 18 5.02% 7,53% 1.89% 2.83% 6.91% 10,36% 19 4.38% 7.47% 1.87%n 2.81%4 6.85% 10.28% 20 4.95% 7.42% 1.86% 2.74%4 6.81% 10.21% 21 4,92%4 7.38% 1.85% 2.77% 6.77% 10.15% 22 4.89% 734%4 1.84% 2.76% 6.73% 10.10% 23 4.88% 7.32% 1.83% 2.75%A 6.71%4 10.07% 24 4.87% 7.31% 1,83% 2,75% 6.70% 10.06% 25 4.87% 7.30% 1,83% 2.74% 6.70%4 10,04% 26 4;87%a 7.30% 1.83% 2.74% 6.70% 10,04% 27 4.87% 7.30% 1,83%4 2.74% 6.70% 10.04% 28 4.87% 7.31% 1.83%4 2.75% 6.70% 10,06% 29 4.88% 7.32% 1,83/4 2.75% 6.71% 10.07% 30 4M% 7.34% 1.84%4 2.76% 6.73%4 10.10% 31 4.91% 7.36 1.84% 2.76% 6.75% 10.12% 32 4.93% 7.39% 1.85% 2.78% 6.76% 10.17% 33 4.95% 7.42% 1,86% 2.79% 6.81%4 10.21% 34 4.97% 7.46% 1.87% 2.80% 6.84% 10.26% 35 5,00% 7.50% 1.88% 2.82% 6.88% 10.32% 36 5.03% 7.54% 1.89% 2,83% 6.92% 10.37% 37 5.06% 7.59% 1.90% 2.85% 6.96% 10.44% 38 5.09% 7.64% 1.91% 2.87%4 7.00% 10,51% 39 5,13% 7,70% 1.93%4 2.89% 7.06% 10,59%4 40 5.17% 7.75%4 1.94% 2.91% 7.11% 10.66414 41 5.21% 7.81% 1,95% 2.93% 7.16% 10.74% 42 5.25% 7.87%4 1.37% 2.96%4 7.22% 10.83%4 43 5.29%4 7.94%4 1.99%4 2.98% 7.28% 10.92% 44 5.35% 8.02% 2,01% 3.01%4 7.36% 11.03 45 5.39%4 SM% 2.02% 3.03% 7.41% 11.11% 46 5.44% 8.16% 2.04% 3.06% 7.48%4 11.22% 47 5.49% 8.23%4 2.06% 3.09% 7.55% 11.32% 48 5.55% 8.32%4 2.08%4 3.12%4 7.63% 11.44% 49 5.59%4 8.39% 2.10% 3.15%4 7.69% 11.54% 50 5.65%4 8.47% 2.12%4 3.18% 7,77% 11.65% 51 5.72% 8.58% 2.15% 3.22% 7.87% 11,80% 52 5.78%, 8.67%m 2,17% 3.26% 7.95% 11.93% 53 5.83% 8.74% 2.14% 3.28% 8.02% 12,02% 54 5.85%4 8.77% 2,19% 3,29% 8,04%4 12.06% 55 5.85% 8.77% 2.19% 3.29% 8,04% 12.06% 56 5.85% 8.77% 2.13%4 329% 6.04% 12.06% 57 5.85% 8.77% 2.19%4 3.29% 8,04% 12,06% 58 5.85% 8.77%4 2.19% 3.29% 8,04% 12.06%4 59 5.850% 8,77% 2.19%4 3.29%4 8.04%4 12.06% 60 5.8504 8.77% 2.19% 3.29% 8.04% 12.06%4 COLA Loading Factor: 37.56%4 **NOTE. All rates above assume the employee is covered under Social Security. If the employee is not under Social Security,use the"LOVER$350"rate.and apply it to all reported compensation. CienMemRates unenhanced.7.1.05.xis Exhibit C - SAFETY - "21/* 50" (Non-Enhanced) Effective 7/1/05 - 6130/06 (Expressed as a Percentage of Monthly Payroll) ntr sac C"�C7�A Total 15 9.44% 5.22% 14.66010 16 9.44% 5.22% 14.66% 17 9.44% 5,22`/0 14.66% 18 9.44% 5.22% 14.66% 19 9.44% 5.22% 14.66% 20 9.44% 5.22% 14.66% 21 9,37% 5.18% 14.55% 22 9.31% 5.14% 14.45% 23 9.25% 5.11% 14.36% 24 9.21% 5.09% 14.30% 25 9.18% 5.07% 14.25010 26 9.16% 5.06% 14.22% 27 9.15% 5.06% 14.21% 28 9.15% 5.06% 14.21% 29 9.16% 5.069'0 14.22% 30 9.19% 5.08% 14.27% 31 9.22% 5.09% 14,31% 32 9.27% 5.12% 14.39% 33 9.32% 5.15% 14.47% 34 9.38% 5.18% 14.56% 35 9.45% 5.22% 14,67% 36 9.51% 5.26% 14.77% 37 9.59% 5.30/0 14.89% 38 9.67% 5.34% 15.01010 39 9.75% 5.39% 15.14% 40 9.84% 5.44% 15.28% 41 9.92% 5.48% 15.40% 42 10.02% 5.54% 15.56% 43 10.12% 5.59% 15.71% 44 10.22% 5.65% 15.87% 45 10.34% 511% 16.05% 46 10.45% 5.77% 16,22% 47 10.52% 5.81% 16.33% 48 10.64% 5.88% 16.52% 49 10.93% 6.04% 16,97010 50 10.93% 6.04% 16.97010 51 10.93% 6.045'0 16.97% 52 10.93% 6.04% 16,97% 53 10.93% 6.04% 16.97010 54 10.93% 6.04% 16.97% 55 10.93% 6.04% 16.97010 56 10.93% 6.04`Y0 16.97% 57 10.93% 6.04% 16.97% 58 10.93% 6,04% 16.97% 59 10.93% 6.04% 16.97% 60 10.935'0 6.04% 16.97% COLA Loading Factor: 55.26% Safety Rates Old 7.1.05•xls Exhibit 0 TIER I _ "2% 0 55" (Enhanced) Effective 7/1/05 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) Entry Basic COLA Total ACA FIRST$350 OVER350 FIRST 1350 0>VER 3501 FIRST$350 OYER 350 15 4.39% 6.59% 2.65% 3.97% T04% 10.56% 16 4.35% 6,53% 2.63% 3.94% 6.98% 10.47% 27 4.31% 6.47%0 2,60% 3.90% 6.91% 10.37% 18 4.28% 6.42% 2.58% 3.87% 6.86%0 10.29% 19 4.25% 6.38% 2.57% 3.85% 6.82 10.23010 20 4.23% 6.35% 2.55% 3.63% 6.78% 10.18% 21 4.21% &32% 2.54% 3.81% 6.75% 10.13% 22 4.20% 6.30% 2.53% 3.80`10 6.73% 10.10% 23 419% 6.29% 2.53% 3.79% 6.72% 10088% 24 4.19% 6.28%4 2.53%4 3.79% 6.72% 10.07% 25 4.19%4 6.28% 2.53% 3j./9% 6.72% 10. /p }0 3 26 4.19% 6.28% 2.53% .79% 6.72% 10.07% 2y7� 4.19% 6.29% 2.53% 3.7y/9% 6.72% 10..08% 26 4.21% 6.31% 2.53% 3.80% 6.74% 10.11% 29 4.21% 6.32% 2.54010 3.81% 6.75% 10.13% 30 4.23% 6.34% 2,55%4 3.82% 6.78010 1.0.16% 31 4.25% 6.37% 2.56%4 3.84% 6.81% _ 10.21% 32 4.27% 6.40%4 2.57% 3.86% 6.8414 10.26% 33 4.29% 6.43% 2.59% 3.88% 6.88% 10.3170 34 4.3110 6.47% 2j.60% 3.[90% 6,91% 10.37% 2 35 4.34% 6.51% .6110 3.9214 6.75% 10.43% 36 4.37% 6.55% 2.63% 3.95% 7.00% 10.50% 37 4.40% 6.60% 2.65% 3.98% 7.05410 10.58%0 36 4.43% 6,65% 2.67% 4.01% 7.10410 10.66% 39 4.47% 6.70% 2.69% 4.04°1 7.16% 10.74% 40 4.50% 6.75% 2.71% 4.07% 7.21% 101.82% 41 4.54% 6.81% 2.74% 4.11% 7.28% 10.92% 42 4.58% 6.87% 2.76% 4.14% 7.34%0 11.01% 43 4.63% 6.94% 2.79% 4.18% 7.42% 11.12% 44 4.67% 7.00% 2.61% 4.22% 7.48% 11.22% 45 4.71% 7.07% 2.84% 4.26% 7.55% 11.33% 46 4.76% 7.14% 2.67% 4.30% 7.63% 11.44% 47 4.81% 7.21% 2.90% 4.35% 7.71% 11.56% 48 4.86% 7.29% 2.93% 4.40% 7.79% 11.69% 49 4.91% 7,36% 2.96%0 4.44% 7.87% 11.80% 50 4.96% 7.44% 2.99%a 4.49% 7.95% 11.93% 51 5,02%0 7.53%4 3.03% 4.54410 8.05%4 12.07% .. 52 5.07% 7,61.%4 3.06% 4.59% 8.13% 12,20% 53 5.13% 7.70%0 3.09%4 4,64% 8.22% 12.34% 54 5.19% 7.79% 3.13% 4.70% 8.32% 12.49% 55 5.24% 7.86% 3.16% 4.74% 8.40% 12.60% 56 5.29% 7.94% 3.19% 4.79% 8.48% 12..73% 57 5.36% 8.04% 3.23% 4.85% 8.59% 12.89% 58 5.44% 8.16% 3.28% 4,92% 8.72% 13,08% 59 5.45% 8.18% 3.29% 4.93% 8.74% 13.11% 60 5.45% 8.18% 3.29% 4.93% 8.74% 13.11% COLA Loading Factor; 60.29% *NOTE: All rates above assume the employee is covered under Social Security. If the employee is not under Social Security,use the"OYER$350"rate and apply it to all reported compensation. TIER 111 - 112% 55" (Enhanced) Effective 7/1/05 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) lEntry Basic COLA Total Age FIRST$350 ©V R350 FIRST 1350 OVER 350 FIRST$350 299.L3-50 15 4.39%. 6.59% 2.14% 3.217. 6.53% 9.80%. 16 4.35% 6.53% 2.12%. 3.18% 6.47%. 9.71% 17 4.31% 6.47% 2.10%. 3.15% 6.41% 9.62% 18 4.28% 6.42% 2.09%. 3.13% 6.37% 9,55% 19 4.25%. 6.38% 2.07% 3.11% 6.32% 9.49%. 20 4.23% 6.35% 2.06% 3.09% 6.29% 9,44%. 21 4.21% 6.32% 2.05%. 3.08% 6.26% 9.40%. 22 4.20%. 6.30% 2.05%. 3,07% 6.25% 9.37% 23 4.19% 6.29%. 2.05%. 3.07% 6.24% 9.36%. 24 4.19% 6.28% 2.04%. 3.06% 6.23%. 9.34% 25 4.19% 6.28% 2.04% 3.06% 6.23% 9.34% 26 4,19%. 6.28%. 2.04%. 3.06% 6.23% 9.34% 27 4.19% 6.29% 2.05%. 3.07% 6.24%. 9.36% 28 4.21% 6.31% 2.05% 3.08%. 6.26% 9.39% 29 4.21% 6.32% 2.05% 3.08%. 6.26% 9.40% 30 4.23% 6.34% 2.06✓. 3.09% 6.29%. 9.43%. 31 4.25% 6.37%. 2.07% 3.10% 6.32%. 9.47%. 32 4.27%. 6.40%. 2.08% 3.12% 6.35%. 9.52% 33 4.29% 6.43% 2.09% 3.13% 6.38% 9.56"! 34 4.31%. 6.47%. 2.10% 3.15% 6.41% 9.62% 35 4.34% 6.51%. 2.11% 3.17% 6.45% 9.68% 36 4.37% 6.55% 2.13% 3.19% 6.50% 9.74% 37 4.40%, 6.60% 2.15% 3.22% 6.55% 9,82°! 38 4.43% 6.65%. 2.16% 3.24% 6.59% 9,89% 39 4.47% 6,70% 2.18%. 3.27%. 6.65% 9.97% 40 4.50% 6.75% 2.19%. 3.29% 6,69% 10.04% 41 4.54% 6.81% 2.21% 3.32% 6.75% 10.13%. 42 4.58%. 6.87% 2.23%. 3.35% 6.81% 10.22% 43 4.63%4 6.94%. 2.25%. 3.38% 6.88% 10.32% 44 4.67% 7=% 2.27%. 3.41% 6.94%. 10.41% 45 4.71% 7.07%. 2,30% 3.45% 7.01% 10.52% 46 4.76%. 7.14%. 2.32%. 3.48%. 7,08% 10,62%. 47 4.81% 7.21%. 2.34%. 3.51% 7.15%. 10.72% 48 4.86%. 7.29% 2.37%. 3,55%. 7.23% 10,84% 49 4.91%. 7.36% 2.39% 3.59% 7.30% 10.95% 50 4.96% 7,44% 2.42% 3.63% 7.38%. 11.07%. 51 5.02% 7.530/. 2.45% 3.67% 7.47% 11.20% 52 5.07%. 7.61%. 2.47% 3:71% 7.54%. 11.32% 53 5.13% 7.70% 2.50% 3,75% 7,63% 11,45% 54 5.19% 7.79%. 2.53% 3.80% 7.72% 11.59% 55 5.24%. 7.86%. 2.55% 3.83% 779% 11.69% 56 5.29% 7.94% 2.58%. 3.87% 7.87% 11.81% 57 5.36% 8,04%. 2.61% 3.92% 7.97% 11.96% 58 5.44%. 8.16%. 2.65% 3,98% 8.09% 12.14% 59 5.45% 8,18% 2.66% 3.99% 8.11%. 12.17"1. 60 5.45%. 8,18%. 2.66% 3.99%. 8.11% 12.17% COLA Loading Factor: 48.74% "*NOTE: All rates above assume the employee is covered under Social Security, If the employee is not under Social Security,use the"OVER$350"rate and apply it to all reported compensation, GenMemRates enhanced.7.1.05.xis Exhibit F 5AFr- Y - "3% 0 50" (Enhanced) Ettective 7/1/05 w 6/30146 (expressed as a Percentage of Monthly Payroll) ntrg is COLA Toed 15 9.44% 6.88% 16.32 16 9.44%d 6.88%4 16.32% 17 9.44% 6.88% 16.32% 18 9.44% 6.88% 16.32% 19 9.44% 6.88% 16.32% 20 9.44% 6.88% 16.32% 21 9.37% 6.83% 16.20% 22 9.31% 6.78% 16.09% 23 9.25%5 6.74% 15.99% 24 9.21% 6.71% 15.92% 25 9.18% 6.69% 15.arl5 26 9.16% 6.67% 15.83% 27 9.15`!0 6.67% 15.82% 28 9.15% 6.6715 15.82% 29 9.16% 6.6715 15.83% 30 9.19% 6.69% 15.88% 31 9.22% 6.72% 15.94% 32 9.27% 6.75% 16.02% 33 9.32% 6.79%5 16.11%5 34 9.38% 6.6310 16.21% 35 9,45% 6.88% 16.33% 36 9.51% 6.93% 16.44% 37 9.59% 6.99% 16.58% . 38 9.67% 7.04% 16.71% 39 9.75% 7.10% 16.85% 40 9.84% 7.17% 17.01% 41 9.92% 7.23% 17.15% 42 10.02% 7.30% 17.32% 43 10.12% 7.3r/o 17.49% 44 1022%5 7.45% 17.6715 45 10.34%n 7.53% 17.87% 46 10.45% 7.61% 18.06`15 47 10.52%5 7.66%5 18,16%5 48 10.64% 7.75% 18.39% 49 10.93% 7.96% 18.89 50 10.93% 7:96%5 18.89% 51 10.93% 7.96% 18.89% 52 10.93`"/0 7.96% 18.89%5 53 10.93% 7.96% 18.89%5 54 10.93% 7.96% 18.89% 55 10.93% 7.96% 18.89%5 56 10.93% 7,96% 18.89% 57 10.93% 7.96% 18.89%5 58 10.93% 7.969' 18.89% 59 10.93% 7.96% 18.89% 60 10.93% 7.96% 18.89%5 COLA loading Factor: 72.85% Safety Rates grew 7.1.05.x(s Exhibit 6