Key Results – City of San Diego

Table I-1 SDCERS - City of San Diego
Valuation Date Unfunded Actuarial Liability (in millions) $ Funding Ratio City Contribution Rate Fiscal Year Annual Required Contribution (GASB): -if paid at the beginning of the year -if paid throughout the year 6/30/2012 2,279.3 68.6% 59.5% 2014 6/30/2011 $ 2,177.8 68.5% 46.6% 2013 $ 231.1 million $ 239.6 million

$ 275.4 million $ 285.5 million

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Changes Since Last Valuation City Of San Diego
Changes in UAL and ARC (dollars in millions)
1. Value at June 30, 2011 2. Expected Value at June 30, 2012* 3. Actual Value at June 30, 2012 4. (Favorable)/Unfavorable experience (3 - 2) UAL $ 2,177.8 2,131.2 2,279.3 $ 148.1 ARC $ 231.1 236.2 275.4 $ 39.2

Breakdown of Experience (dollars in millions)
1. 2. 3. 4. 5. 6. 7. Actuarial investment experience different than projected Liability experience Method change Employee contributions paid less than expected Effect of Proposition B plan closure and level dollar amortization Purchase service credits paid for during year Other Misc UAL $ 91.4 40.2 7.9 8.4 0.2 $ 148.1 ARC $ 8.3 4.7 (0.3) 0.8 27.0 (1.3) 39.2

8. Total change: (sum 1 thru 7)
* Includes projected phase-in of asset gains or losses

$

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