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HomeMy WebLinkAboutRESOLUTIONS - 01012004 - 2004-653 THE BOARD OF SUP'ERV'ISORS OF CONTRA COSTA COUN'T'Y,CALIFORNIA Adopted this Order on CEMBER 14, 2004 ,by the following vote: AYES: SUPERVISORS GIOIA, UILREMA, GREENBERG AND DeSAULNIER NOES: NONE ABSENT: SUPERVISOR FEDERAL D. GLOVER ABSTAIN: NONE rrrrrrrwrrrrrwrwrrrrrwrwwrrrwrrrrrrrrrrrrrrrwrrr■rarrrrwrrrrrrrrrrrrrrrrrrrrrrrr 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 RESOLVER 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 5517 benefit schedule(Sec. 31676.11) I. General Members--Tier I covered by Social Security, N On the first$350 of earnable monthly compensation: 9.55% 12.46% 0 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 earnable monthly compensation: 8.83'/0 12.02% M On earnable compensation in excess of$350 monthly: 13.25% 18.04% A N For Safety Members Cinder the 112% at 50" benefit schedule C 1. Safety Members: NA 20.91% E O C. For Employee Rates under the above benefit schedules — See attached rate sheets A, B, C and U. 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 III: 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 Under the"3% 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. f z� c5 ADMINISTRATION CONTRIBLITIONS (Resolution) II. Cost of Living program Rate Component{payable as a%of compensation) County* District* For General Members Lander the"1..67% at 55"benefit schedule(Sec. 31676.11) 1. General Members--Tier I covered by Social Security, N On the first$350 of earnable monthly compensation: 3.03% 5.28% fl On earnable compensation in excess of$350 monthly: 4.55% 7.93% 2. General Members—Tier I not covered by Social Security: 4.55% 7.93% 3. General Members--Tier 11: 4.53% 7.81% E 4. General Members -Tier III: N On the first$350 of earnable monthly compensation: 3.03% 5.31% H On earnable compensation in excess of$350 monthly: 4.55% 7.97% A B. For Safety Members Linder the"2% at 50" benefit schedule C 1. Safety Members: NA 11.52% 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(See. 31676.16) 1. General Members—Tier I covered by Social Security, On the first$350 of earnable monthly compensation: 3.91'!0 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% 1 9.07% H 3. General Members-Tier III: A On the first$350 of earnable monthly compensation: 3.300x'0 5.60% N On earnable compensation in excess of$350 monthly: 4.96% 8.41% C E E. For Safety Members Under the"3% at 50" benefit schedule(Sec. 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-refundabili y 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: .9962 .9974 General Tier 11: .9879 na General Tier III: .9999 .9956 Benefit Schedule Non-Enhanced Enhanced Safety: .9974 .9952 ADMINISTRATION CONTRIBUTIONS (Resoluti-) *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'[.inion Cemetery District *Central Contra Costa Sanitary District *Centra Costa County Employees' Retirement Association *Contra Costa Housing Authority *Contra Costa Mosquito and Vector Control District *Diablo Water District *Local Agency Formation Commission *Ironouse Sanitary District *Rodeo Sanitary District *In-biome 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 A►Nxxts RATION CONTRIBUTIONS (Resolution) UIPLOYER RATES FOR DISTRIC"' AT VARYING SUBVENTION LEVELS NON-ENHANCED BENEFITS Eff.July 1, 2005 Subvention Levels - 01 - 50% 80% 85% 90% 95% 100% TIER I (Aggregate) Basic 18.26% 18.26% 15.26% 18.26% 18.26% 18.26% Subvention 3,62% 5.79% U5% 6,52°La 6,88% Z.24% Basic+ Subvention 21.88% 24.05% 24.41% 24.78% 25.14% 25.50% COAL 7,75% 7,75% 7,75% 7..15% Yo Zia Total 29.63% 31.80% 32.16% 32.53% 32.89% 33.25% TIER II Basic 16.04% 16.04% 16.014% 16.04% 16.04% 16.04% Subvention 1.46% 2,34% 2,48% 2,63% 2.77% 2.92% Basic+ Subvention 17.50% 18.38% 18.52% 18.67% 1&81% 18.96% COAL 7,.81% 7,81 z 81% 7,81% 7,81% ZB111a Total 25.31% 26.19% 26.33% 2.6.48% 26.62% 26.77% TIER III (Aggregate) Basic 17.74% 17.74% 17.74% 17.74% 17.74% 17.74% Subvention 3,77% U3% 0.41 6,72 7,. 7 % Basic+ Subvention 21.51% 23.77% 24.15% 24.53% 24,90% 25.28% COAL 7.34% 7,84% 7,84% 7,84% 7,84 7,84% Total 29.35% 31.61% 31,99% 32.37% 32.74% 33.12% SAFETY Bask 20,91% 20.91% 20.91% 20.91% 20.91% 20.91% Subvention 457% 7475o 7,4.% $,41% UM U4% Basic+ Subvention 25.58°! 28.38% 28.85% 29.32% 29.78% 30.25% COL 11.52° jj_52& 11,52% 11,52% 1152% 11,52Ya Total 37.10.1% 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 subvention percent fore 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 subventad. 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 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 subverted 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 adder#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. )APL OYER RATES FOR DISTRIC } AT VARYING SUBVENTION LEVELS ENHANCED BENEFITS Eff. 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_913 . 4,7 5�Q5% 5,355 4% 51M1O. ,Basic+ Subvention 23.32% 25.10% 25.40% 25.70% 25.99% 26.29% COL 8.88% B.8�°1 8.88°la 8.8 % 5.8.51. 5..88% Total 32.20% 33.98% 34.28% 34.58% 34.87% 35.17% TIER III (Aggregate) Basic 19.12% 19.12% 19.12% 19.12% 19.12% 19.12% Subvention 3,22% 5,15.% 547% Vis: 6,12% Q,44% Basic+Subvention 22.34% 24.27% 24.59% 24.92% 25.24% 25.56% COL S 8 ala % 8,23% 2,23% Total 30.57% 32.50% 32.82°/. 33.15% 33.47% 33.79% SAFETY Basic 36.72% 38.72% 36.72% 36.72% 36.72% 36.72% Subvention aA5yj 8,61% M% Basic + Subvention 41.25% 43.97% 44.42% 44.87% 45.33% 45.78% COL 18,5QYA 18,5Q% 18,5Q% 18,50% 18,50% 18,50,1 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 exactsubvention 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(le. 50%,70%,65%,etc.). 3.Multiply this result by the reduction factor for that employment category: Tier l .5974 Tier€l€ .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 members compensation for retirement purposes. CONTRA COS' COUNTY EMPLOYEES' RETIREMET' `ASSOCIATION ADJUSTING RATES TO REFLECT EMPLOYEE PAYMENT OF EMPLOYER COST A provision in the law allows safety members to defray the employer cast 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 bath employee and employer rates: Employee rate—Increase the employee's rate by the cast-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 (9.0% x .9952) 8.9568% rate sub chart.7.1.05.ee.cost.sharing.doc TIER I V1.67% G 55" (Non-Enhanced) Effective 7/1/05 - 6/30/06 +� (Expressed as a Percentage of Monthly Payroll) Entry Basic COLA Total Age FIRST 350 OVER 1350 EIRST 1350 OVER 350 FIRST-$35 QVER 35#3 15 5.17% 7.76% 2.86% 4.29% 8.03% 12.05% 16 5.12% 7.68% 2.83% 4.24% 7.95% 11.92% 17 5.07% 7,60% 2,80% 4.20% 7.87%4 21.80% 18 5.02% 7,537 2.77% 4.16% 7.79% 11.69% 19 4987 7.47% 2.75% 4.13% 7.73%4 11.60% 20 4.95% 7,42% 2.73% 4.10% 7.68% 11.52% 21 4,92% 7.38%4 2.72% 4,08% 7.64% 11.46% 22 4.89% 7.34% 2.71% 4.06% 7.60%4 11.40% 23 4,88% 7.32% 2,70% 4.05%4 7.58% 11.37% 24 4.87% 7.31% 2,69% 4.04% 7.56% 11.357. 25 4.87% 7,30% 2.69% 4.03% 7.56% 11,33% 26 4.87114 7.30% 2,69% 4.03% 7.56% 11.33% 27 4.87% 7.30% 2.69%4 4.03% 7.56% 11.33% 28 4.87% 7.31% 2.69% 4.04% 7.56% 11,35% 29 4.88% 7.32°x`4 2,70% 4.05414 7.58% 11.3774 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% 32 4.93% 7.39% 2.72% 4.08!4 7.65% 11.47% 33 4.95% 7.42% 2.73% 4.10`10 7.68% 11.52% 34 4.97% 7.46%4 2.75414 4.12% 7.72% 11.58% 35 5.00% 7.50% 2.76% 4.14% 7.76% I1.64% 36 5,03% 7.54% 2.78% 4.17% 7.81414 11.71% 37 5,06% 7.59% 2.79% 4.19% 7,85% 11.78% 38 5.09% 7.64% 2,81% 4.22/0 7.90% 11.86% 39 5.13% 7.70% 2,84% 4.26% 7.97410 11.96% 40 5.17% 7.75% 2.85% 4.28% 8.02410 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 5.29% 7.94% 2.93% 4.39% 8.22% 12.33`74 44 5.35% 8.02% 2.95%4 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% 1218% 48 5.55% 8.32% 3.07% 4.60% 6.62% 12.92% 49 5.59% 8.39% 3.09% 4.64% 8.68% 13.03% 50 5.65% 8,47% 3.12% 4,68414 8.774!4 13.15% 51 5.72% 8,58% 3.16% 4.74% 8.88% 13.329'4 52 5.78% 8.67% 3.19% 4,79% 8.97% 13.46% 53 5.83% 8.74% 3.227 4.83% 9.05% 13.57% 54 5.85414 8.77% 3,23% 4.85% 9.08% 13.62% 55 5.85410 8.77% 3.23% 4.85% 9.08% 13.62% 56 5.85% 8.77% 3.23% 4.65% 9.08% 13.62% 57 5.65% 8.771% 3.23% 4,85% 9.018% 13.62% 58 5.85% 8.77% 3.23% 4,85% 9.08% 13.62% 59 5.85% 8.77%4 3.23% 4.85% 9.08% 13.62% 60 5.85% 8,77% 3.23%4 4.85% 9.08% 13.62% COLA Loading Factor: 55.26% **NOTE. All rates above assume the employee is covered under Social Security. If the employee is not under Social Security,use.the"OVER$350"rate and apply it to all reported compensation. GenMemPotes unenhanced.7.1.05.xis Exhibit A .-- R xx '+1,13% C.� 55+1 Effective 7/1/05 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) _LqMAC& xic CO A Total 15 2.94% 1.62%e 4.56%8 16 2.91% 1.61% 4.52% 17 2.88% 1.59% 4.471/a 1$ 2.85% 1.571/a 4.42% 19 2.83% 1.56% 4.39% 20 2.81%, 1.55% 4.36% 21 2.79% 1.54% 4.33% 22 2,78% 1.54% 4.32 23 2.77'✓. 1.53% 4.30% 24 2.77% L53% 4M% 25 2.76% 1.53% 4.29% 26 2.76%n 1.53% 4.29% 27 2.77%ti 1.53% 4.30% 28 2.77%Q L53% 4.30% 29 2.77% 1.53%0 4.30% 30 2.78% 1.54% 4.32%n $1 2.79% 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% L57% 4.41% 36 2.86%4 1.58%e 4,44% 37 2.87% 1.59% 4,46% 38 2.89% 1.60% 4.49% 39 2.91% 1.61%, 4.52% 40 2.93% 1,62% 4,55% 41 2.96% 1.64% 4.60% 42 2.99% 1.65% 4.64% 43 3.01% 1.66% 4.67% 44 3,04%, 1.68% 4.72% 45 3.06% 1.69% 4.75% 46 3.09% 1.71% 4,80%« 47 3.12% 1.72% 4.84% 48 3.14% 1.74% 4,88% 49 3.18% 1.76% 4.94%a 50 3.21% 1.77% 4,98% 51 3.25% 1.80% 5.05% 52 3,30% 1.82% 5.12% 53 3.44% 1.90% 5.34%s 54 3.51% 1.94% 5.45% 55 3.51% 1.94% 5.45% 56 3.51% 1.94% 5.45% 57 3.51% L94% 5.45% 59 3.51% 1.94% 5.45% 59 3,51% 1,94% 5,45% 60 3.51%b 1,94% 5,45% COLA Loading Factor: 55.26% GenMemkates umenhanced.7.1.05.x1s Exhibit 8 TIER III )111.67% 55" (Non-Enhanced) Effective 7/1/05 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) Entry Basic COLA Total Age FIRST$350 OVER 350 MST$,350 OVER 35fl FIRST$350 OVER 350 15 5.171/a 7.76% 1.94% 2.91% 7.11% 10.67% 16 5,12% 7.68% 1.92%6 2.88% 7.04% 10.56% 17 5.07% 7.60% 1.90% 2.85% 6.97% 10.45% 18 5.02% 7.53% 1.89% 2.83% 6.91% 10.36% 19 4.98% 7.4710 1.87% 2.81% 6.85% 10.28% 20 4.95% 7.42% 1.86% 2.79% 6.81% 10.21% 21 4.92% 7.38% 1.85% 2.77% 6.77% 10.15% 22 4.89% 7.34% 1.84% 2.76% 6:73% 10.10% 23 4.88% 7.32% 1.83% 2.75% 6.71% 10.07% 24 4.87% 7.31% 1.83% 2.75% 6.70% 10.06% 25 4.87% 7,30% 1.83`/0 2.74% 6.70% 10.04% 26 4.87°1. 7.30% 1.83% 2.74% 6.70% 10.04% 27 4.87%. 7.30% 1.83% 2.74% 6.70% 10.04% 28 4.67% 7.31% 1.83%. 2.75% 6.70%. 10.06% 29 4.88% 7.32% 1.83%6 2.75%. 6.71% 10.07% 30 4.89%6 7.34% 1.84% 276% 6.73%4 10.10% 31 4.91% 7.36%. 1.84% 2.76% 6.75%b 10.12% 32 493% 7.39% 1.85% 2.78% 6.78% 10.17%. 33 4.95`/0 7.42% 1.86% 2.79% 6.81% 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 55.06% 7.59% 1.90% 2.85% 6.96% 10.44% 38 5.09% 7.64% 1.91% 2.87% 7.00% 10.51% 39 5.13% 7.70% 1.93% 2.89% 7.06% 10.59% 40 5.17% 7.75% 1.94% 2.91% 7.11% 10.66% 41 5.21% 7.81% 1.95% 2.93% 7.16%6 10.74% 42 5.25%. 7.87% 1.97% 2.96% 7.22% 10.83%. 43 5.29%s 7.94% 1.99% 2.98%. 7.28% 10.92% 44 5.35% 8.02% 2,01%. 3.01%6 7.36% 11.03%. 45 5.39% 8.08% 2.02% 3.03% 7.41%. 11.11% 46 5.44% 8.16% 2.04% 3.06% 7.48% 11.22% 47 5.49% 8.23% 2.06% 3.09% 7.55% 11.32% 48 5.55% 8.32% 2,08% 3.12% 7.63% 11.44% 49 5.59%. 8.39% 2.10% 3.15% 7.69% 11.54% 50 5.65% 8.47% 2.12% 3.18% 7.77% 11.65%. 51 5.72% 8.58% 2.15% 3.22% 7.87% 11.80%. 52 5.78% 8.67% 2.17% 3.26%6 7.95% 11.93% 53 5.83% 8,74% 2.19% 3.28% 8.02% 12.02% 54 5.85% 8.77% 2.19% 3.29% 8.04% 12.06% 55 5.85% Sa77°16 2.19% 3.29% 8,04% 12.06% 56 5.85% 8.77% 2.19% 3.29% 8.04% 12.036% 57 5.85% 8.77%. 2.19% 3.29% 8.04%'. 12.06% 58 5.851% 8.77% 2.19% 3.29% 8,04% 12.06%. 59 5.85% 8.77%6 2.19%. 3.29% 8.04% 12.06% 603 5.85% 8.77% 2.19% 3.29% 8,04% 12.036%6 COLA Loading Factor: 37,56% **NOT'E: 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. CenMemPates unenhanced.7.1.05.xis Exhibit C SAFETY = "2% W' (Non-Enhanced) Effective 7/1!45 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) Rt A e Basic COLA Total 15 9.44% 5.22% 14.66% 16 9.44% 5,22% 14.66% 17 9.44%e 5.22% 14.66% 18 9.44% 5.22% 14.66% 19 9.44% 5.22%n 14,66% 20 9.44%n 5.22% 14.66% 21 9.37% 5.18% 14.55% 22 9.31% 5.14%e 14,45% 23 9.25% 5.11% 14.36% 24 9.21% 5.09% 14.30% 25 9.18% 5.07% 14.25% 26 9.16% 5.06% 14,22% 27 9.15% 5.06% 14.21% 28 9.15% 5.06% 14.21% 29 9.16% 5.06%n 14.22% 30 9.19% 5.08% 14.27% 31 9.22% 5.09% I4.31%0 32 9.27%m 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% 14.89% 38 9.67%d 5.34% 15.01% 39 9.75% 5,39% 15.1410 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% 5.71% 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%., 16.97% 50 10.93% 6.04% 16.97% 51 10.93% 6,04% 16,97% 52 10.93% 6.04% 16.97% 53 10,93% 6.04% 16.97 54 10.93% 6.04% 16.97% 55 10.93% 6,64% I6.97% 56 10.93% 6.04% 16.97% 57 10.93% 6.04% 16,97% 58 10.93% 6.04% 16.97% 59 10.93% 6.04% 16.97% 60 10.93% 6.04% 16.97% COLA.Loading Factor. 55.26% Safety Rates Old 7.1.05.xis Exhibit 0 1 TIER I - "2% 55" (Enhanced) Effective 7/1/()5 - 6/30/46 (Expressed as a Percentage of Monthly Payroll) Entry Basic COLA Total Age FIi2ST$350 OVER 350 FIRST$350 OVER 350 FrRST$350 OVER 350 15 4.39% 6.59% 2.65% 3.97% 7.04% 10.56% 16 4.35% 6.53% 2,63% 394% 6.98% 10.47% 17 4.31% 6.47% 2.60% 3.90% 6.91% 10.37% 18 4.28% 6,42% 2.58% 3.87% 6.86% 10.29% 19 4.25% 6.38% 2.57% 3.85% 6,82% 10.23% 20 4.23% 6.35% 2.55% 3.83% 6.78% 10.18% 21 4.21% 6.32% 2.54% 3.81% 6.75% 10,13% 22 4.20% 6.30% 2.53% 3.80010 6.73% 10.10°/0 23 4,19% 6.29% 2.53% 3.79% 6.72% 10.08% 24 4.19% 6.28% 2.53% 3.79% 6.72% 10.07% 25 4.19% 6.28% 2.53% 3.79% 6.72% 10.07% 26 4.19% 6.28% 2.53% 3.79% 6.72% 10.07% 27 4.19% 6.29% 2.53% 3.79% 6.72% 10,08% 28 4.21% 6.31% 2.53% 3.80% 6.74% 10.11% 29 4,21% 6.32% 2.54% 3.81% 6.75% 10.13010 30 4,23% 6.34% 2.55% 3.82% 6,78% 10.16% 31 4.25% 6,37% 2.56% 3.84% 6,81% 10.21% 32 4.27% 6,40% 2.57% 3.86% 6.84% 10.26% 33 4.29% 6.43% 2,59% 3.88% 6.88% 10.31% 34 4.31% 6.47% 2.60% 3.90% 6.91% 10.37% 35 4,34% 6.51% 2,61% 3.92% 6.95% 10.43% 36 4.37% 6,55% 2.63% 3.95% 7.00°/ 10.50% 37 4.40% 6.60% 2.65% 3,98% 7.05% 10.58% 3.8 4.43% 6.65% 2.67!6 4.01% 7.10% 10.66% 39 4.47% 6.70% 2.69% 4.04% 7.16% 10.74% 40 4.50% 6.75% 2.71% 4.07% 7.21% 10.82% 41 4.54% 6.81% 2.74% 4.11% 7,28% 10.92% 42 4.58% 6.87% 2.76% 4.14% 7.34% 11.01% 43 4.63% 6.94% 2.79% 4,18% 7.42% IL12% 44 4.67% 7.00% 2.81% 4.22% 7,48% 11.22% 45 4.71% 7.07% 2,84% 4.26% 7,55% 11.33% 46 4,76% 7.14% 2.87% 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% 296% 4.44% 7.87% 11.80% 50 4.96% 7,44% 2,99% 4,49% 7.95% 11.93% 51 5.02% 7.53% 3.03% 4.54% 8.05% 12,07% 52 5.07010 7.61% 3.06% 4.59% 8.13% 12,20% 53 5.13% 7.70% 3.09% 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% 4.93010 8.74% 13.11% 60 5.45`/0 8.18% 3.29010 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"OVER$350"rate and apply it to all reported compensation. TIER III - "2% @ 55" (Enhanced) Effective 7!1!05 - 6/30106 (Expressed as a Percentage of Monthly Payroll) Entry Basic COLI Total Age FIRST$350 C?VI R 350 FIRST$350 OVER 350 !✓IPST$350 OVER 350 15 4.39% 6.59% 2.14% 3.21% 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% 3.08414 6.26% 9.40% 22 4.20% 6.30% 2.05% 3.07% 6.25% 9.37414 23' 4.19% 6.29% 2.05% 3.07% 6.24% 9.36% 24 4.19% 6.28% 2.04% 3.06`!4 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% 6.26414 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% 6.3814 9.56% 34 4.31% 6.47414 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% 3.19414 6.50% 9.74% 37 4.40%4. 6.60414 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% 6.67% 2.23% 3.35% 6.81% 10.22% 43 4.63% 6.94% 2.25% 3.38% 6.88% 10.32% 44 4.67% 7.00% 2.27% 3.41% 6.94% 10.41% 45 4.71% 7.07% 2.30% 3.45414 7.01% 10,52% 46 4.76% 7.14% 2.32414 3.48% 7.08414 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% 7.53% 2.45% 3.67% 7.47% 11.20414 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 5.19'14 7.79% 2.53% 3.80% 7.72% 11.59% 55 5,24% 7.86% 2.55% 3.83% 7.79% 11.69% 56 5.29414 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% 60 5.45% 8.18% 2.66% 3.99% 8.11414 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 SAF Y - "3% G 5V' (Enhanced) Ettective 7/1/05 - 6/30/06 (Expressed as a Percentage of Monthly Payroll) < JnLrt A e -is COLA Total 15 9.44% 6.88% 16,32% 16 9,44% 6.88% 16.32% 17 9.44% 6,88% 16.32% is 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% 6.74% 15.99 24 9.21% 6.71% 15.92`! 25 9.18% 6.69% 15.87 26 9.16% 6.67% 15,83% 27 9.15% 6.67% 15.82% 28 9.15% 6.67% 15.82% 29 9,16% 6.67% 15.83% 90 9.19% 6.69% 15.88`/0 31 9.22% 6.72% 15.94% 32 9.271/v 6.75% 16.02% 33 9.32% 6.79% 16.11 34 9.38% 6,83% 16.21% 35 9.45% 6,88% 16.93% 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%0 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% 7.37% 17,49 44 10.22% 7.451% 17,67% 45 10.34% 7.53% 17.87% 46 10.45% 7.61% 16.06% 47 10.52% 7.66% 18.18% 48 10,64% 7,75% 18.39% 49 10.93% 7.96% 18.89% 50 10.93% 7.96% 18.89% 51 10.93% 7.96 18,89% 52 10.93% 7.96% 18.89% 53 10.33% 7,96% 18.89% 54 10.93% 7.96% 18.89% 55 10,93% 7,96%b 18.89% 56 10.93% 7.96% 18,89% 57 10.93% 7.56% 18.89%m 58 10.93%d 7.96% 18.89% 59 10.93% 7.96% 18.89% 60 10.93%a 7.96% 18.89% COLA Loading Factor: 72.65% Safety Rates New 7.1.05.xis Exhibit 6 -