Presentation of an Analysis of the Impacts of CalPERS' Actuarial Changes on the City's Retirement Plans for Miscellaneous and Safety Employees. CITY OF CULVER CITY MISCELLANEOUS AND SAFETY PLANS CalPERS Actuarial Issues 6/30/11 Valuation Preliminary Results Page 1 3 5 9 13 23 27 31 35 45 Presented by John E. Bartel Prepared by Bianca Lin Tina Haugbro Bartel Associates LLC May 13 2013 Topic Definitions Miscellaneous Plan: Agenda Safety Plan: Demographic Information Plan Funded Status Plan Assets & Actuarial Obligations Contribution Rates & Projections Demographic Information Plan Funded Status Plan Assets & Actuarial Obligations Contribution Rates & Projections PEPRA Cost Sharing 11.wol.docx o: clients city of culver city projects calpers 6 30 11 ba culverci 13 05 13 calpers misc safety De efinitions Present Va PVB P Di scounted v yments bas pay ial Liabili Actuar Di scounted v va alue of pas Po ortion of PV nt Normal Curren Po ortion of PV Va alue of emp alue of all value (at va sed on vari ty: value (at va st service b VB earned l Cost: VB allocate ployee and Projected aluation da ious (actua : d Benefits: 1) of all fu ate 6/30/1 arial) assum mptions future expe ected benef fit ate) of bene efits earned d through v valuation d date aluation da enefit d at measu urement ed to (or e d employer earned du current se uring) curre ervice bene ent year efit May 13 2013 1 De efinitions bank to co ey short of over Actuar target at v rial Liabili aluation da ity (past se ate rvice) target at th one contrib hat point in buting. n time. ney in the ity Mone urplus: and above n you re do Target Unfund Excess Mo Do Super F As If e (em Have mon ded Liabili Assets / Su oney over oesn t mean Funded: ssets cover everything mployer or whole pie g goes exac r employee (PVB) ctly like PE e) dime in. ERS calcul ated you l ll never hav ve to put a another May 13 2013 2 Actives Counts Average Age City Service PERSable Wages Total PERSable Wages (millions) Receiving Payments Counts Service ...
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