HomeMy WebLinkAbout04/17/2018 - CC - Public Presentation - Barasch, Item 11CalPERS — Who We Are and How We Put
Your Money to Work
Presentation for
San Luis Obispo Property & Business Owners' Association
Barbara Ware, Senior Pension Actuary
November 20, 2014
Specifics for San Luis Obispo, 'continued
• Funded Status is an indicator of how "on track" your plan is
9 100% is the desired target.
• Average, plan is- about 70% on 6/30/13
Miscellaneous is 62.3%
• Safety is 65.2%
A. CaIPERS
2
Specifics for San Luis Obispo, continued
°miscellaneous plan"
The table below shows projected employer contribution rates (before cost sharing) for the next five Fiscal
Years, assuming CaIPERS earns 18 percent for fiscal year 2013-14 and 7.50 percent every fiscal year
thereafter, and assuming that all other actuarial assumptions will be realized and that no further changes to
assumptions, contributions, benefits, or funding will occur.
CaIPERS
New Rate
Projected Future Employer Contribution Rates
2015-16
2016-17
2017-18
2018-19
2019-20
E 2020-21
28.300%
30.2%
31.4%
32.6%
33.8%
34.0%
Contribution
Rates:
CaIPERS
Specifics for
San Luis Obispo, continued
it
safety plan It
The table below shows projected employer contribution rates (before cost sharing) for the next five Fiscal Years, assuming CaMERS
earnsIao% ,for fiva/ year 2013-14 and 7.50 percent every fiscal year thereafi!+er, and assuming that all other actuarial
assumptions will be realized and that no further changes to assumptions, contributions, benefits, or funding will occur.
Normal Cost %:
UAL $
A, CAPERS
New Rate Projected Future Emp yer Contribution Rates
2015-16 2016-17 2017-18 1 2018-19 2019-20 2020-21
20.230% 21.3% 21.3% 21.3% 21.3% 21.3%
> 3 056,723 $ 3,402 670 3 766,621 $ 4,149,349 $ 4.551 _Fi51 t a 711 an
2C �
CALPERS ACTUARIAL VALUATION - June 30, 2013
MISCELLANEOUS PLAN OF THE CITY OF SAN LUIS OBISPO
CalPERS ID: 7574628515
- Volatility Ratios
The actuarial calculations supplied in this communication are based on a number of assumptions about very long-
term demographic and economic behavior. Unless these assumptions (terminations, deaths, disabilities,
retirements, salary growth, and Investment retum) are exactly realized each year, there will be differences on a
yearz..o-year basis. The year-to-year differences Between -actual experience and the assumptions are called
actuarial gains and losses and serve to lower or raise the employer's rates from one year to the next: Therefore,
the' rates will inevitably fluctuate, especially due to the ups and downs of investment returns.
Asset Volatility Ratio (AVR)
Plans that have higher asset to payroll ratios produce more volatile employer rates due to investment return. For
example, a plan with an asset to payroll ratio of 8 may experience twice the contribution volatility due to
investment return volatility, than a plan with an asset to payroll ratio of 4. Below we have shown your asset
volatility ratio, a measure of the plan's current rate volatility. It should be noted that this ratio is a measure of the
current situation. It increases over time but generally tends to stabilize as the plan matures.
Uabil-ity Volatility Ratio (LVR)
Plans that have higher liability to payroll ratios produce more volatile employer rates due to investment return and
changes in liability. For example, a plan with a liability to payroll ratio of 8 is expected to have twice the
contribution volatility of a plan with a liability to payroll ratio of 4. The liability volatility ratio is also included in the
table below. It should be noted that this ratio indicates a longer-term potential for contribution volatility and the
asset volatility ratio, described above, will tend to move closer to this ratio as the plan matures.
Rate Volatility
1. Market Value of Assets without Receivables
2. Payroll
3. Asset Volatility Ratio (AVR = 1. / 2.)
4. Accred Liability �W Al I cv� 4 SGo PrWAS
5. Liability Volatility Ratio (LVR = 4. / 2.)
As of June 30, 2013 /
101,773,549
18,675,551
5.4
163,764,694 ✓
8.8
Page 25
Amortization Schedules for the City of San Luis Obispo Pension Plans
Miscellaneous Plan
Benefit
Method
Assumption
Assumption
Special G/L
Special G/L
Special G/L
change (10)
change (11)
change (16)
change (18)
(26)
(27)
(28)
Gain[Loss (29)
Gain/Loss (30)
Total
711 Balance
Payment
Payment
Payment
Payment
Payment
Payment
Payment
Payment
Payment
Payment
$ 61,775,643
$ 35,839
$ (26,906)
$
646,210
$
85,360
$
459,965
$
74,747
$
100,365
$
1,501,408
$ (165,122)
$ 2,711,86E
$ 63,597,094
$ 36,914
$ (27,713)
$
665,596
$
277,574
$
473,764
$
76,989
$
- 103,376
$
1,687,773
$ (189,792)
$ 3,104,48:
$ 65,148,081
$ 38,022
$ (28,545)
$
685,564
$
285,901
$
487,977
$
79,299
$
106,477
$
1,738,406
$ 207,525
$ 3,600,62-,.
$ 66,300,977
$ 39,162
$ (29,401)
$
706,131
$
294,478
$
502,616
$
81,678
$
109,672
$
1,790,558
427,502
$ 3,922,39E
$ 67,206,724
$ 40,337
$ (30,283)
$
727,315
$
303,313
$
517,695
$
84,128
$
112,962
$
1,844,275
660,490
$ 4,260,23:
$ 67,830,126
$ 41,547
$ (31,191)
$
749,134
$
312,412
$
533,225
$
86,652
$
116,351
$
1,899,603
907,073
$ 4,614,80;
$ 68,132,652
$ 42,794
$ (32,127)
$
771,609
$
321,784
$
549,222
$
89,252
$
119,841
$
1,956,591
1,167,856
$ 4,986182:
$ 68,072,154
$ 44,077
$ (33,091)
$
794,757
$
331,438
$
565,699
$
91,929
$
123,436
$
2,015,289
1,202,892
$ 5,136,42;
$ 67,852,005
$ 45,400
$ (34,084)
$
818,599
$
341,381
$
582,670
$
94,687
$
127,139
$
2,075,748'-
1,238,979
$ 5,290,52(
$ 67,455,578
$ 46,762
$ (35,106)
$
843,157
$
351,622
$
600,150
$
97,528
$
130,954
$
2,138,020
1,276,148
$ 5,449,23!
$ 66,864,859
$ 48,165
$ (36,159)
$
868,452
$
362,171
$
618,154
$
100,454
$
134,882
$
2,202,161
1,314,432
$ 5,612,71:
$ 66,060,339
$ 49,610
$ (37,244)
$
894,506
$
373,036
$
636,699
$
103,467
$
138,929
$
2,268,226
1,353,865
$ 5,781,09'
$ 65,020,899
$ (38,362)
$
921,341
$
384,227
$
655,800
$
106,571
$
143,096
$
2,336,273
1,394,481
$ 5,903,42E
$ 63,776,662
$
948,981
$
395,754
$
675,474
$
109,768
$
147,389
$
2,406,361
1,436,316
$ 6,120,04U
$ 62,214,515
$
977,451
$
407,627
$
695,738
$
113,062
$
151,811
$
2,478,552
1,479,405
$ 6,303,64`
$ 60,344,846
$
1,006,774
$
419,856
$
716,610
$
116,453
$
156,365
$
2,552,908
1,523,787
$ 6,492,75L
$ 58,138,878
$
1,036,977
$
432,451
$
738,109
$
119,947
$
1611056
$
2,629,495
1,569,501
$ 6,687,531
$ 55,565,508
$
1,068,087
$
445,425
$
760,252
$
123,545
$
165,888
$
2,708,380
1,616,586
$ 6,888,162
$ 52,591,121
$
458,788
$
783,060
$
127,252
$
170,865
$
2,789,632
1,665,084
$ 5,994,67S
$ 50,320,040
$
472,551
$
806,551
$
131,069
$
175,991
$
2,873,321
1,715,036
$ 6,174,51S
$ 47,692,166
$
830,748
$
135,001
$
181,270
$
2,959,520
1,766,487
$ 5,87-3,021
$ 45,179,794
$
855,670
$
139,051
$
186,708
$
3,048,306
1,819,482
$ 6,049,21E
$ 42,296,316
$
881,341
$
143,223
$
192,310
$
3,139,755
1,874,066
$ 6,230,694
$ 39,008,419
$
907,781
$
147,520
$
198,679
$
3,233,948
1,930,288
$ 6,417,61!
$ 35,280,125
$
935,014
$
151,945
$
204,021
$
3,330,966
1,988,197
$ 6,610,144
$ 31,072,591
$
963,065
$
156,504
$
210,142
$
3,430,895
2,047,843
$ 6,808,44E
$ 26,343,8, 87 _.
$
991,957
$
161,199
$
216,446
$
3,533,822
2,109,278
$ 7,012,703
$ 21,048,755
$
1,021,715
$
166,035
$
222,940
$
3,639,837
2,172,556
$ 7 223 081
$ 15,138,360
I71,016
229,628
$
3,749,032
1,790,186
$ 5,939,862
$ 10,115,158
$
236,517
$
3,861,503
1,382,919
$ 5,480,938
$ 5,191,037
$
3,977,348
949,604
$ 4,926,952
$ 471,992
489,046
$ 489,04E