HomeMy WebLinkAboutMINUTES - 11182008 - C.80 sE `
TO: BOARD OF SUPERVISORS Contra
FROM: DAIVD TWA,
Costa
COUNTY ADMINISTRATOR
�•. '�� �-.4
DATE: November 18, 2008 �S'A CO--- �P County
SUBJECT: EMPLOYEE RETIREMENT PLAN CONTRIBUTION RATES FOR FISCAL YEAR
2009-2010
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
ADOPT the attached Resolution 2008/714 approved by the Retirement Board, which establishes the
retirement plan contribution rates for employers and employees effective July 1, 2009 through June
30, 2010.
BACKGROUND:
Each year, the Retirement Board establishes contribution rates for employee retirement plans based
on an annual actuarial valuation study. On July 23, 2008, the Retirement Board adopted the attached
resolution establishing employee and employer rates for Tier I, Tier II, Tier III and Safety retirement
plans for the 2009-10 fiscal year. These rates will be included in the salary forecast and planning for
the 2009-10 budget.
It should be noted that these rates do not include any of the impacts of recent and future earning
losses due to the economy. It is anticipated that rates will be higher for FY 2010-11 and could
continue for at least the next five years.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S): \
ACTION OF BOARD ON nj?#eW 0 APPROVED AS RECOMMENDED OT&
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.
V UNANIMOUS(ABSENT )
AYES: NOES:
ABSENT: ABSTAIN:
Contact: Lisa Drisco I,County Administration(335-1023)
Cc: Steve Ybarra,County Auditor ATTESTED
Lisa Driscoll,County Administrator's Office DAVID TWA,CLERK OF TH 9 BOARD OFSUPERVISORS
BY: DEPUTY
CONTRA COSTA COUNTY EMPLOYEES'RETEUMENT ASSOCIATION
CONTRIBUTION RATE PACKET FOR:
JULY 19 2009 THROUGH JUNE 309 2010
CONTRA COSTA COUNTY
EMPLOYEES RETIREMENT ASSOCIATION
1355 Willow Way,Suite 221,Concord,CA 94520-5728
Telephone: (925)521-3960,Fax: (925)646-5747
CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT ASSOCIATION
TABLE OF CONTENTS
Page Description
i Memo from Retirement CEO
1-3 Resolution for Employer Rates & Non-refundability
discount factors
. 4 Various Subvention Levels —District Non Enhanced
5 Various Subvention Levels —District Enhanced
6 Examples for Employee Cost Sharing &
Prepayment Discount Factor for 2009-10
7 Tier 1 Non-Enhanced rates (Exhibit A)
8 Safety Non-Enhanced rates (Exhibit B)
9 Tier 1 Enhanced rates (Exhibit C)
10 Tier III Enhanced rates (Exhibit D)
11 Safety (Tier A) Enhanced rates (Exhibit E)
12 Safety (Tier C) Enhanced rates (Exhibit F)
CONTRA COSTA COUNTY
EMPLOYEES RETIREMENT ASSOCIATION
J1 r 1355 Willow Way,Suite 221,Concord,CA 94520-5728
Telephone: (925)521-3960,Fax: (925)646-5747.
-LJO1 t VUUN1-y
C�fVED
OCT 2 9 2008
Date: October 28, 2008
COUNTY ADM BATOR
To: Lisa Driscoll, Senior Deputy, Public Safety and Finance
From: Marilyn Leedom, Retirement Chief Executive Officer
Subject: Contribution Rates Effective July 1, 2009
Attached is the draft resolution for the Board of Supervisors to formally adopt the retirement system
contribution rates effective July 1, 2009.
At its July.23, 2008 meeting, the Retirement Board reviewed the actuary's Valuation Report for the year
ended December 31, 2007 and adopted employer and employee contribution rates, which will become
effective on July 1, 2009. A copy of the actuary's December 31; 2007 Valuation Report can be found_on
CCCERA's website at www.cccera.org under the.Publications link.)
Enclosed are the rates to be used effective July 1, 2009 through June 30, 2010.
Please note the following:
✓ The rates are effective July 1, 2009 through June 30, 2010.
We're advising you this'far in advance to allow you as much time as possible for budget-setting.
The interest assumption remains unchanged at 7.8% as originally set by Retirement Board
action.
✓ The rates are BEFORE ANY EMPLOYER SUBVENTION.
The rates quoted here are the employer and employee required rates without taking into
consideration any employer subvention of employee contributions. Because of this, if you
subvent employee rates, you will need to compute this additional contribution and adjust both
employee and employer rates accordingly. A convenient methodology is included for your use.
✓ The. rates are BEFORE ANY EMPLOYEE-EMPLOYER COST
SHARING.
A provision in the law allows safety members to defray the employer's cost for the "3% at 50"
enhanced benefit. The rates quoted here are the employer and employee required rates without
taking into consideration any employee contribution to defray this cost. 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
accordingly. A convenient methodology is included for your use located on page 6.
✓ The rates distinguish between "County", "District" and
"Consolidated Fire & Moraga-Orinda Fire District" Rates.
The County used the proceeds from its sale of Pension Obligation Bonds in early 1994 and
again in April 2003 to extinguish its share of the unfunded liability at that time. Since then, the
portion of the total employer rate, which is attributable to amortizing the unfunded liability, has
been separately accounted for between the county and districts. Two fire districts separately
used proceeds from the sale of Pension Obligation Bonds to extinguish their respective
unfunded liability in 2005. Subsequently, Consolidated Fire has made additional payments to
CCCERA for its unfunded liability in 2006 and 2007; therefore separate rates apply to these two
districts.
0c CONTRA COSTA COUNTY
T r�11� EMPLOYEES RETIREMENT ASSOCIATION
' A51 i, 1355 Willow Way,Suite 221,Concord,CA 94520-5728
Telephone: (925)521-3960,Fax: (925)646-5747
i
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY,CALIFORNIA
Adopted this Order on d�%����'< •�' U ,by the following vote:
AYES: l G�((l.J t � Q; Pte_ 1 od boru _w
NOES: hone
ABSENT: 64dve -
ABSTAIN: �,
irrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr■,■
SUBJECT: Approving Contribution Rates to be charged and Resolution No.
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 1,2009 through June 30,2010.
1. Basic Retirement Benefit Rate Component (payable as a % of compensation)
Coun * District* M/O Fire Con Fire
N A. For General Members Under the 111.67% at 5511 benefit schedule(Sec. 31676.11)
1. General Members—Tier I covered by Social Security,
N On the first$350 of earnable monthly compensation: N/A 13.18% N/A N/A
On earnable compensation in excess of$350 monthly: N/A 19.76% N/A NIA
E 2. General Members—Tier I not covered by Social Security: N/A 19.76% N/A N/A
3. General Members-Tier III:
N On the first$350 of earnable monthly compensation: N/A N/A N/A NIA
H On earnable compensation in excess of$350 monthly: NIA N/A N/A N/A
A
N B. For Safety Members Under the"2% at 50"benefit schedule
C 1. Safety Members: N/A 20.93% N/A N/A
E
D C. For.Employee Rates under the above benefit schedules—
See attached rate sheets A and B.
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: 10.67% 13.56% 7.68% 7.24%
E On earnable compensation in excess of$350 monthly: 16.00% 20.34% 11.52% 10.87%
2. General Members—Tier I not covered by Social Security: 16.00% 20.34% 11.52% 10.87%
N
N3. General Members'-Tier III:
A On the first$350 of earnable monthly compensation: 9.75% 12.93% N/A N/A
N On earnable compensation in excess of$350 monthly: 1.4.62% 19.40% N/A N/A
C E. For Safety Members(Tier A)Under the 113% at 50" 1 year FAS benefit schedule(Sec. 31664.1)
E 1. Safety Members: 28.55% 36.82% 18.18% 18.46%
D
F. For Safety Members(Tier C)Under the 113% at 50"3 year FAS benefit schedule(Sec. 31664.1)
1. Safety Members: 25.54 N/A N/A N/A
G. For Employee Rates under the above benefit schedules —
See attached rate sheets C,D, E and F.
ADMINISTRATION
CONTRIBUTIONS - 1 -
(Resolution)
T:\Contributions\Resolutions\Resolution 7-1-09 rates.doc
II. Cost of Living Program Rate Component (payable as a% of compensation)
Coufijy* District* MIO Fire Con Fire
A. For General Members Under the"1.67% at 55" benefit schedule(Sec. 31676.11)
N 1. General Members—' Tier I covered by Social Security,
0 On the first$350 of earnable monthly compensation: N/A 6.51% N/A N/A
N On earnable compensation in excess of$350 monthly: N/A 9,77% N/A N/A
2. General Members—Tier I not covered by Social Security: N/A 9.77% N/A N/A
E 3. General Members-Tier III:
N On the first$350 of earnable monthly compensation: N/A N/A N/A N/A
H On earnable compensation in excess of$350 monthly: N/A N/A N/A N/A
A B. For Safety Members Under the"2%.at 50" benefit schedule
N
C 1. Safety Members: N/A 13.45% N/A N/A
E- C. For Employee Rates under the above benefit schedules
UD See attached rate sheets A and B.
D. For General Members Under the"2% at 55" benefit schedule(Sec. 31676.16)
I General Members—Tier I covered by Social Security,
On the first$350 of earnable monthly compensation: 4.19% 6.68% 3.27% 2.29%
E On earnable compensation in excess of$350 monthly: 6.28% 10.03% 4.92% 3.44%
N 2. General Members—Tier I not covered by Social Security: 6.28% 10.03% 4.92% 3.44%
H 3. General Members-Tier III:
A On the first$350 of earnable monthly compensation: 1.77% 6.35% N/A N/A
N On earnable compensation in excess of$350 monthly: 5.66% 9.52% N/A N/A
C E. For Safety Members (Tier A) Under the '13% at 50", 1 year FAS benefit schedule(Sec. 31664.1)
E L 1. Safety Members: 1126% 19.92% 6.84% 5.92%
D
F. For Safety Members (Tier Q Under the 113% at 50",3 year FAS benefit schedule(Sec. 31664.1)
1. Safety Members: 9.22% N/A N/A N/A
G. For Employee Rates under the above benefit schedules—
-See attached rate sheets C,D,E and F.
11I.Non-refundabili1y Discount Factors
Because payments made under agreement, by the employer on behalf of
employees are non-refUndable, they shall be paid at the following rates:
Benefit Schedule
Non-Enhanced Enhanced
General Tier 1: .9951 .9972
General Tier III: N/A .9929.
Benefit Schedule
Non-Enhanced Enhanced
Safety Tier A: 1.0000 .9971
Safety Tier.C: N/A .9800
ADMINISTRATION
CONTRIBUTIONS -2-
(Resolution)
T:\Contributions\Resolutions\Resolution 7-1-09 rates.doc
*The Pension Obligation Bonds (POB);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" including
the Superior Court of California, Contra Costa 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
:*Local Agency Formation Commission
'*Rodeo:*Rodeo Sanitary District
*In-Home Supportive Services Authority
:*First 5 - Children& Families Commission
*East Contra Costa Fire Protection District
'*Rodeo-Hercules Fire Protection District
:*San Ramon Valley Fire Protection District
:**Contra Costa County Fire Protection District and Moraga-Orinda Fire Protection District issued Pension
Obligation Bonds in 2005 which affected contribution rates f6r these two employers. Subsequently, Con Fire has
made additional payments to CCCERA of its UAAL in 2006 and 2007. These two employers have separate
contribution rates as denoted on the resolution.
ADMINISTRATION
CONTRIBUTIONS -3-
(Resolution)
T:\Contributions\Resolutions\Resolution 7-1-09 ratesl,doc
CONTRA COSTA COUNTY EMPLOYEE RETIREMENT ASSOCIATION
EMPLOYER RATES FOR DISTRICTS
AT VARIOUS SUBVENTION LEVELS
NON-ENHANCED BENEFITS
Eff. July 1, 2009
Subvention Levels
50% 75% 100%
TIER I (Aggregate)
Basic 19.24% 19.24% 19.24%
Subvention 3.62% 5.43%. 7.24%
Basic+ Subvention 22.86% 24.67% 26.48%
COL 9.52% 9'.52% 9.52%
Total 32.38% 34.19% 36.00%
TIER II There are NO Tier 11 Active Rates
TIER III (Aggregate) There are NO Tier III Active Rates
SAFETY(TIER A) i
Basic 20.93% 20.93% 20.93%
Subvention 4.27% 6.41% 8.54%
Basic+ Subvention 25.20% 27.34% 29.47%
COL 13.45% 13.45% 13.45%
Total 38.65% 40.79% 42.92%
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 exact subvention 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(ie.50%, 75%, etc.).
3. Multiply this result by the reduction factor for that employment category:
Tier 1 .9951
Tier 11 N/A
Tier III N/A
Safety 1.000
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 are added to the members account, are available to the member as a refund, and
are considered by the retirement system as part of the members compensation for retirement purposes.
4
T:\Contributions\Subvention Ivls\2009-2010\subvention levels non-enhanced 7-1-09
9 I ,
CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT ASSOCIATION
EMPLOYER RATES 'FOR DISTRICTS (other than M/0 Fire and Con Fire)
AT VARIOUS SUBVENTION'LEVELS
ENHANCED BENEFITS
Eff. July 1, 2009
Subvention levels
50% 75% 100%
TIER I (Aggregate)
Basic 19.98% 19.98% 19.98%
Subvention 2.91% 4.37% 5.82%
Basic+ Subvention 22.89% 24.35% 25.80%
COL 9.86% 9.86% 9.86%
-Total 32.75% 34.21%. 35.66%
TIER III (Aggregate)
Basic. 18.97% 18.97% 18.97%
Subvention 3.14% 4.71% - 6.28%
Basic+ Subvention 22.11% 23.68% 25.25%
COL 9.31% 9.31% 9.31%
Total 31.42% 32.99% 34.56%
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 exact subvention 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 subverted.
2. Multiply this by your subvention percent(ie. 50%, 75%, etc.).
3. Multiply this result by the reduction factor for that employment category:
Tier 1 .9972
Tier III .9929
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 are 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 members compensation for retirement purposes.
5
TAContributions\Subvention Ivls\2009-201Msubvention levels enhanced 7-1-09
TIER I - "1.67% @ 55" (Non-Enhanced)
Effective 7/1/09 - 6/30/10 A
(Expressed as a Percentage of Monthly Payroll) .
Entry Basic COLA Total
Age FIRST$350 OVER$350 FIR5T$350 _OVER$350 FIRST$350 OVER$350
15 3:59% 5.38% 1.78% 2.67% 5.37% 8.05%
16 3.65% 5.47% ' 1.81% 2.` :;°i3 5.46% 8.18%
17 3.71% 5.56% 1.84% 2.76% 5.55% 8.32%
18 3.76% 5.64% 1.87% 2.80% 5.63% 8.44%
19 3.82% 5.73% ;v"*: 1 8 ,yo2 84°a 5.71% 8.57%
20 3.88% 5.82% 1.93% 2.89% 5.81% 8.71%
21 3.95% 5.92% 1.96% 2.94% .5.91% 8.86%
22 4.01% 6.01% 1.99% 2.98% 6.00% 8.99%
23 4.07% 6.10% z30 ° 6.08% 9.12%
24 4.13% 6.20% 2 05% iT7°, 6.18% 9.27%
25 4.20% 6.30% 0 °f¢�x 6.28% 9.42%
26 4.27% 6.40% °,j orr 6.38% 9.57%
27 4.33% 6.50% 2.15% 322°v� 6.48% 9.72%
28 4.40% 6.60% 2 18% ° 6.58% 9.87%
29 4.47% 6.70% 6.68% 10.02%
30 4.54% 6.81%' 2.25% 3.38% 6.79% 10.19%
31 4.61% 6.92% 2.29% 6.90% 10.35%
32 4.69% 7.03% 2.33% 3.49% 7.02% 10.52%
33 4.76% 7.14% 2 `6°' X64°I 7.12% 10.68% '
34 4.83% 7.25% 2.40% 3.60% 7.23% 10.85%
35 .4.91% 7.37%' °/ °a 3 7.34% 11.02%
36 4.99% 7.49% 47°fa W37 °c 7.46% 11.20%
37 . 5.07% 7.61% ° SFA 3 7o'g. a 7.58% 11.38%
38 5.16% 7.74% 2.56% 3.84% 7.72% 11.58%
39 5.25/ 7.87/ ,,Tg27 . 7.85% 11.77%
r
40 5.33% 8.00% 2.65% 3.97% 7.98% 11.97%
41 5.43% 8.14% 2.69% 4.04% 8.12% 12.18%
42 5.53% 8.29%', 2 ,aF 4F 8.27% 12.40%
43 5.63% 8.44%1" 2.79% 4.19% 8.42% 12.63%
44 5.74% 8.61% 2.85% 2 ° = 8.59% 12.88%
45 5.84% 8.76%'' ` "F 2 n 8.73% 13.10%
46 5.95% 8.92% 2.95% 4 �'/w 8.90% 13.34%
47 6.04% 9.06% 9.03% 13.55%
48 6.13% 9.20%. 3 9.17% 13.76%
49 6.22% 9.33% 3.09% 4.63% 9.31% 13.96%
50 6.29% 9.44% 3 2°a :'" '" 68/;" " 9.41% 14.12%
51 6.30% 9.45% 3.13% 4.69% 9.43%- 14.14% '
52 6.29% . 9.43% 3.12% 4.68% 9.41% 14.11%
53 6.23% 9.34%, 463°f 9.32% 13.97%
54 6.05% 9.08% f}0°la 4 °u 9.05% 13.58%
55 6.05% 9.089.05/ 13.58/
56 6.05% 9.08% 4fl°° ;aw 9.05% 13.58%
57 6.05% 9.08% �x '3 a, 4�50°I°s 9.05% 13.58%
58 6.05% 9.08%, 300°at 45Q°s` 9.05% 13.58%
59 6.05% 9.08%', ° 0°I' 9.05% 13.58%
60 6.05% 9 080/, ' 04 ° 9.05% 13.58%
,7,7 77m7um
_ ,. f" wae".ux .�"Yu `"•sa, n'�- tMw:.iv: '. �auww:s`� :,,a.:�.
**NOTE: All rates above assume the employee is covered under Social Security. If the employee is not
under bocial becurity,use the-uvtK 4)sou"rate and apply it to an reported compensation.
- RATES THAT HAVE CHANGES FOR 2009-2010
6enMemRates T-1 unenhanced A 7-1-09 Exhibit A(2) 7
SAFETY - "2% @ 50" (Non-Enhanced)
Effective 7/1/09.- 6/30/10 B
(Expressed as a Percentage of Monthly Payroll)
Entry Age Basic COLA Total
15 7.85% 11.74%
16 7.85% 89%a 11.74%
17 7.85% `3 89�/0 11.74%
18 7.85% # 3$9`°!0 11.74%
19 7.85% 11.74
20 7.85% ",�11WX 11.74
21 7.85% 89°/ mak R 11.74%
22 7.97% 3 95>a 11.92%
23 8.09% 12.10%
24 8.22% 4.08% 12.30%
25 8.35% 4 4% 12.49%
26 8.48% 4.21% 12.69%
27 8.61% °off 12.88%
28 8.74% _ Q�3°0 13.07%
29 8.87% 4.40% 13.27%
30 9.02% ,GOk 4AWO , ...W_., 13.49%
31 9.15% 4.54% 13.69
32 9.30% 13.91%33 9.45% 4.69% 14.14%
34 9.59% 4.76% 14.35%
35 9.75% 4.84% 14.59
36 9.91% ;� 4 9I%, 14.82%
37 10.08% 504 15.08%
38 10.25% 15.33%
39 10.43% 5a % 15.60%
40 10.62% 5.27% 15.89%
41 10.82% 5.37% 16.19%
42 11.05% 16.53%
43 11.31% <
��,,:-`Y �61�%" `� 16.92%
44 11.60% 57 17.35%
45 11.77% 584=% 17.61%
46 11.80% 5$5'a� 17.65
47 11.73% S2%M, 17.55%
48 11.56% 5 3 17.29%
49 11.51% 571a e' ' 17.22%
sr
50 11.51% 17.22%
51 11.51% 17.22%
52 11.51% 5 7 17.22%
53 11.51% 571% ' 17.22
54 11.51% 5,ZE, 111, 17.22%
55 11.51% 17.22%
56 11.51% 5'gj�/0 17.22
57 11.51% °
1'rlQ 17.22%
58 11.51% X71°fa 17.22%
59 11.51% 17.22%
60 11.51% � 573°f _ 17.22%
zg
CaLA9 UP g
- RATES THAT HAVE CHANGED FOR 2009-2010
Safety Rates non-enhanced B 7-1-09 Exhibit B(2) 8
CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT 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 applicable Safety refundability factor:
EXAMPLE FOR TIER A: If the cost-sharing percent is 9.0%,
Employee rates should be increased by 9.0%.
The employer rate should be decreased by (9.0%x.9971)
= 8.9739%
EXAMPLE FOR TIER C: If the cost-sharing percent is 2.1%,
Employee rates should be increased by 2.1%.
The employer rate should be decreased by (2.1%x.9800)
= 2.0580%
Employer Contribution Prepayment Program & Discount Factor'
for 2009-10
'If you are currently participating in the prepayment program and wish to continue, you
don't need to do anything other than prepay the July.1, 2009 through June 30, 2010
contributions by July 30, 2009. If you wish to start participating,please contact the
Accounting Division at the Retirement Office by March 31, 2009.
The'discount factor for the fiscal year July 1, 2009 through June 30,2010 will be .959
and remains the same as the previous year based on the interest assumption rate of 7.8%.
rate sub chart 7-1-09 EE cost sharing 6
ti
TIER I = "2% @ 55" (Enhanced)
Effective 7/1/09- 6/30/10 C
(Expressed as a Percentage of Monthly Payroll)
Entry Basic COLA Total
Age FIRST$350 OVER$350 FIRST$350 OVER$350 FIR5T$350 OVER$350
15 3.11% 4.67% X1$7% �8a Gj 4.98% 7.47%
16 3.17% 4.75% I$ o� % 5.06% 7.59%
17 3:21% 4.82% Y.T «� 3°fog gy 5.14% 7.71%
,k
18 3.27/° �� ° °
4.90% 1�95a �2 931° 5.22/° 7.83/°
19 3.32% 4.98% _ 1 9% $ 2r98'fo 5.31% 7.96%
20 3.37% 5.06% 0Y3%. 5.39% 8.09%
21 3.43% 5.14% 2�051fl� _ �3081a 5.48% 8.22%
22 3.48% 5.22% 2�9° 13/d 5.57/° 8.35%
23 3.53% 5.30% 21=IYa 317% 5.64% 8.47%
24 3.59% 5.39% 3 2� % 5.74% 8.62%
25 3.65% 5.47% 2�I9% 3 28a/o 5.84% 8.75%
26 3.71%
5.56/° ��22�0� �� 3� 1 5.93% 8.89%
27 3.77% 5.65% 6.02% 9.03%
28 3.83% 5.74% gC 44°fes 6.12% 9.18%
29 3.89% w2 33°la �� 3 %
5.83/° 6.22% 9.32%-�
30 3.95% 5.92% �4 =2 3F °cam 3 55'fo` 6.32% 9.47%
31 4.01% 6.01% 6.41% 9.61%
32 4.07% 6.11% 6.51% 9.77%
33 4.13% 6.20% Z� 6.60% 9.91%
34 4.20% 6.30% 2 51%0 6.71% 10.07%
35 4.27% 6.40% 2 55% X398", 6.82% 10.23%
zx
36 4.33% 6.50% 59 0' 3 89°la 6.92% 10.39%
37 4.40% 6.60% 2 63% 3 95% 7.03% 10.55%
38 4.47% 2 b8a ° °
6.71/° -x � 4�Q2�1° 7.15/° 10.73/°
39 4.54% 6.81% � �72%> 4 08% 7.26% 10.89%
40 4.61% ° 2�76s°f 41+4% .: ° °
6.92/o 7.37/° 11.06/°
41 4.69% 7.04% r 3af 4 22°I 7.50% 11.26%
42 4.77% 7.15% ° 7.62/° 11.43/°°
4�
43 4.85% 7.27% r 90% 4�35o1a 1 7.75% 11.62%
44 4.93% 7.39% 2 5.1 4 1" 7.8 8/0 11.82%
45 5.01% . 7.52% m" � � 4 50°- 8.01% 12.02%
3'00
��o
46 5.10% - 7.65% K 3 �5° ` s 4 8°a 8.15% 12.23%
47 5.19% 7.79% 3 0 s 4,675o
8.30% 12.46%
48 5.29% 7.93% �1R14 4 75° 8.46% 12.68%
49 5.39% 8.09%° rte%33 48 °f° 8.62% °
12.94/°
50 5.49% 8.23%
8.78% 13.16%
3 290 4 9�1
51 5.59% 8.38% 35%2 _ ' 2°/ 8.94% 13.40%
52 5.67% 8.51% 9.07% 13.61%
53 5.77% 8.65%° 9.22% 13.83%
8.76/°
54 5.84% ° i ° °
5 M'. t 2510 9.34% 14.01%
55 5.91% 8.87% - 3 54°a KK h5 3t � js„ 9.45% 14.18%
56 5.92% 8.88% 3 5 a 2% 9.47% 14.20%
57 5.91% 8.86% X54'/0 31�q° 9.45% 14.17%
58 5.85% v
° 8.78% � 3 %,� 5�2b°fa � 9.36% 14.04%
59 5.69% 8.53% 4I�% 5ll.o { 9.10% 13.64%
60
5.69% 8 530
910% 13.64%
**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.
- RATES THAT HAVE CHANGED FOR 2009-2010
GenMemRates T-1 enhanced C 7-1-09 Exhibit C(2) q
TIER III - "2% @ 55 (Enhanced)
Effective 7/1/09 '- 6/30/10
(Expressed as a Percentage of Monthly Payroll)
Entry Basic COLA Total
A�_e- FIRST$350 OVER$350 FIRST$350 OVER$350 FIRST$350 OVER$350
15 3.11% 4.67% = i35 % a22A % 4.62% 6.94%
16 3.17% 4.75% 314.71% 7.06%
17 3.21% 4.82% f 57°fA 2 35°J° 4.78% 7.17%
18 3.27% 4.90% 159% �39°fo 4.86% 7.29%
19 3.32% 4.98% Ibl% 242% 4.93% 7.40%
20 3.37% 5.06% 164°!a 246x% 5.01% 7.52%
21 3.43% 5.14% 167!° 250% 5.10% 7.64%
22 3.48% 5.22% � l b9fl/a 2 54s/ 5.17% 7.76%
23 3.53% 5.30% 172% 2 58% 5.25% 7.88%
24 3.59% 5.39% 2x 5.34% 8.01%
25 3.65% 5,47% �177fo Z 66 J° "� 5.42% 8.13%
26 3.71% 5.56% 1�$1% 5.52% 8.27%
27 3.77% 5650/9 Z 75=%�3 5.60% 8.40%
28 3.83% 5.74% 1861 2 79°/ 5.69% 8.53%
29 3.89% 5.83% q 1$9/a 2 84 5.78% 8.67%
30 3.95% 5.92% a5.87% 8.80%
31 4.01% 6A =1% 195% 2 93`!° 5.96% 8.94%
32 4.07% 6.11% s 1.98a/Q X2 4,7 6.05% 9.08%
33 4.13% 6.20% = Z Q1�Ja 3 02°J 6.14% 9.22%
OR
34 4.20% 6.30% r 2 05%° 07% 3 P 6.25% 9.37%
35 4.27% 6.40% x 2 Q8/ 31`2°J° 6.35% 9.52%
36 4.33% 6.50% 6.44% 9.66%
�av fi
37 4.40% 6.60% " `214°!a 6.54% 9.81%
ME
38 4.47% 6.71% 2181 3'27 6.65% 9.98%
39 4.54% 6.81% 224Jo 3 32°� t 6.75% 10.13%
40 4.61% 6.92% „ 225,°fo 33=710 3 6.86% 10.29%
41 4.69% 7.04% 2 29a/o� 3 43%� K' 6.98% 10.47%
42 4.77% 7.15% 7.09% 10.63%
43. 4.85% 7.27% 2 3f%la 3 54% 7.21% 10.81%
44 4.93% 7.39% a, 240D/ 53�60ro -ti 7.33% 10.99%
45 5.01% 7.52% 244°Jo 3 66% 7.45% 11.18%
46 5.10% 7.65% 2 $% 3 7Z°!, 7.58% 11.37%
7.79/° . ' 7.72% °11.58/°
47 5.19% Z 53,% ",.. 3 79�/°
48 5.29% 7.93% ,; 257s' 7.86% 11.79%
49 5.39% 8.09% 263% 3 94'/° _ 8.02% 12.03%
50 5.49% 8.23% 2 67°l� � �Ol'/o 8.16% 12.24%
51 5.59% ° s
8.38/° �.: 2 72% 4 08°!° 8.31% 12.46%
52 5.67% 8.51% 276!° 14°l° 8.43% 12.65%
53 5.77% 8.650/, 2 81,°!0 4 2_l°l0 8.58% 12.86%
54 5.84% 2 84% 4 26j% 8.68% °
13.02/°
55 5.91% 8.87% `' 2 88'la " 326 °
8.79/0 13.19/o
56 5.92% 8.88% 288°l0 4 32J° 8.80% 13.20%
57 5.91% 8.86% 2#8 '/0 _ 431Jo� 8.78% 13.17%
58 5.85% 8.78% 2$5`f 4 2�T/ate 8.70% 13.05%
59 5.69% 8.53% 277�la 4�5�Io 8.46% 12.68%
60 5.69% 8.530%
Z77%a 415/0 8.46% 12.68%
__E �- .- ,.- COLA Loadmglactor�48 58°l0IR...
**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.
- RATES THAT HAVE CHANGED FOR 2009-2010
GenMemRates T-III enhanced D 7-1-09 Exhibit D(2) 10
SAFETY (TIER A) -. ."3% @ 50" (Enhanced)
Effective 7/1/09 - 6/30/10 E
(Expressed as a Percentage of Monthly Payroll)
Entry Age Basic COLA Total
15 7.85% 13.76%
16 7.85% 13.76%
17 7.85% °ld x 13.76%
18 7.85% 92% _ 13.76%
19 7.85% _� 9=19`d 13.76%
20 7.85% 5 91% 13.76%
21 7.85% 91�° ��. 13.76%
22 7.97% �7�f1 s,. 13.97%
23 8.09% 6f}9% v 14.18%
24 8.22% "i i}fa 14.41%
25 8.35% g� 9 o � ' 14.64%
26 8.48% s
�' ��639s o � � 14.87%
27 .8.61% -, 49% 15.10%
28 8.74/° .s. 6 8/0 =3 15.32%
29 8.87% M b b8 - - 15.55%
30 9.02% � b 7Qilo x 15.81%
31 9.15% b 89wo,�� 16.04%
32 9.30% 16.30%
33 9.45% � 717r°!° s F 16.57%
4 9.59%
3 °
7 22/� 16.817.
.35 9.75% X3'4% 17.09%
36 ;9.91% �4(j'/� 17.37%
37 10.08% 7............. 9x/o � 17.67%
38 10.25% 7210 17.97%
39 10.43% 18.29%
40 10.62% 8�Q'l° � a 18.62%
41 10.82% �" 8150 18.97%
42 11.05% 8332% 19.37%
43 11.31% 8�5�2�°!0 � �� 19.83%
44 11.60% 8 4°0 7 20.34%
45 11.77% 20.64%
46 11.80% $$. /o 20.69%
47 11.73% 6,fi 20.57%
48 11.56% . 20.27%
49 11.51% bk
8 20.18%
50 .11.51% 8fi °o 20.18%
51 . 11.51% 867 ° 20,18%
52 11.51/0
° 87° 20.18%
` "' � o � �
53 11.51% ;. 8 67% 20.18%
54 11.51% �p $f�7/ � 20.18%
55 11.51% 20.18%
� 3
56 11.51% � `t 8 6 l 20.18%
57 11.51% ' $b o� 20.18
58 11.51% 20.18%
59 11.510/. $b7.o 20.18%
60 11.51% $b7/ 20.18%
RATES THAT HAVE CHANGED.FOR 2009-2010
Safety Rates(Tier A)enhanced E 7-1-098.Exhibit E(2)
t
SAFETY (TIER C) - "3% @ 50" (Enhanced)
Effective 7/1/09 -. 6/30/10 F
(Expressed.as a Percentage of Monthly Payroll)
Entry Age Basic COLA Total
15 7.48% ��09° 10.57%
16 7.48% F "� xF� ar °
�O9�p 10.57/° .
17 .7.48% 10.57%10.57%
18 7.48% M9x% 10.57%
19 7.48%
10.57/°°
20 7.48%
9 10.57%
21 7.48% y 0:9� 10.57%
22 7.60% 3141A 10.74%
23 7.72% 5 18 10.90%
24 7.83% _ °
3131x . n: 11.06/°
25 7.96% 328/0 11.24%
26 8.08% °
30 11.41/°
27 8.20% 11.58/°
°
l°�
28 8.33% ? `°1 11.77%
29 8.46% 11.95%
30 8.59% 3 41 rt 12.13%
31 8.73% 12.33%
32 8.86% °
12.51/°
33
9.00% 12.71%
34 9.15% �3 77°% h 12.92%
35 9.29% _" 3$lam 13.12%
36 9.44% 3 9°t 13.33%
37 9.60% gb Q 13.56%
38 9.76% 13.79%
39 9.94% °
�, 41QI 14.04/°
40 10.13% �}
r„ ��8°� r - 14.31%.
41 10.31% 425�l z 14.56%
42 10.53% 4`34 14.87%
43 10.71% 4 4 15.13%
44 10.82%' 15.28%
45 10.84% � 44 �� 15.31%
46 10.77% 4 4 15.21%.
47 10.56% 4_ 14.92%
48 11.01o% o 15.55%
49 11.51% 5%W-1_' - 16.26%
°
50 11.51% 75 r 16.26%
51 11.51% 4 16.26%
52 11.51% 47 16.26%
53 11.51% 455 16.26%
54 11.51% 16.26%
55 11.51% 475=. , 16.26%
56 11.51% 16.26%
57 11.51% a ,° , .° y 16.26%
° °
58 11.51/oo i 16.26/°
59 11.51% } 4;75°Ing 16.26%
6011.51% � 16.26%
-RATES THAT HAVE CHANGED FOR 2009-2010 '
5afety Rates(Tier C)enhanced F 7-1-09 Exhibit F(2) 12