|
Required Supplementary Information Schedules of Employer Contributions |
||||||||||
| (Expressed in Millions) | ||||||||||
| SERS | TRS | JRS | MERS | PJRS | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Fiscal Year |
Annual Required Contribution |
Percentage Contributed |
Annual Required Contribution |
Percentage Contributed |
Annual Required Contribution |
Percentage Contributed |
Annual Required Contribution |
Percentage Contributed |
Annual Required Contribution |
Percentage Contributed |
| 1995 | $535.3 | 54.3% | $154.0 | 86.0% | $9.0 | 100.0% | $22.2 | 100.0% | $- | - |
| 1996 | $501.1 | 66.9% | $164.7 | 85.0% | $9.2 | 100.0% | $23.2 | 100.0% | $0.35 | 100.0% |
| 1997 | $542.8 | 64.3% | $174.0 | 85.0% | $9.3 | 100.0% | $21.3 | 100.0% | $0.32 | 100.0% |
| 1998 | $567.6 | 59.0% | $211.0 | 85.0% | $9.3 | 100.0% | $18.8 | 100.0% | $0.20 | 100.0% |
| 1999 | $315.6 | 100.0% | $221.6 | 85.0% | $9.3 | 100.0% | $18.1 | 100.0% | $0.02 | 100.0% |
| 2000 | $342.8 | 100.0% | $240.5 | 85.0% | $9.3 | 100.0% | $32.0 | 100.0% | $- | - |
Note: During 1995 and 2000 the only contributions to the Probate Judges Retirement System were the required member contributions.
The information presented in the required supplementary
schedules was determined as part of the actuarial valuations
at the dates indicated. Additional information as of the
latest actuarial valuation follows.
| SERS | TRS | JRS | MERS | PJRS | ||
|---|---|---|---|---|---|---|
| Valuation date | 6/30/00 | 6/30/98 | 6/30/00 | 6/30/99 | 12/31/99 | |
|
Actuarial cost method |
Projected unit credit |
Entry age |
Projected |
Entry age |
Entry Age |
|
| unit credit | ||||||
|
Amortization method |
Level percent of pay |
Level percent of pay |
Level percent of pay |
Flexible amortization |
- |
|
|
Remaining amortization period |
33 Years |
15-34 Years |
31 Years |
15-23 Years |
- |
|
| Asset valuation method |
5 year smoothed market |
4 year smoothed market |
5 year smoothed market |
Adjusted market |
Adjusted Market |
|
| Actuarial assumptions: | ||||||
| Investment rate of return | 8.5% | 8.5% | 8.5% | 8.5% | 8.5% | |
| Projected salary increases | 4.25-15.0% | 5.0% | 5.5% | 7.0-7.5% | 7.50% | |
| Includes inflation at | 5% | 5% | 5.5% | 4.5% | 3.5% | |
| Cost-of-living adjustments | 2.75-3.75% | 3-5% | 3.0-5.5% | 3.0% | 3% | |