Federated City Employees’ Retirement System
Police & Fire Department Retirement Plan
1 April 26, 2022
Presented by: Roberto L. Peña
2 3
Development of Actuarial Value of Assets
4 Market Value of Assets 4,726,642$
Earnings 2017 2018 2019 2020 2021 Total
Actual 292,733 233,474 114,180 134,086 1,044,290 1,818,763 Expected 212,514 230,741 241,113 247,714 251,043 1,183,125 Gain or (Loss) 80,219 2,733 (126,933) (113,628) 793,247 635,638 Deferred % 0% 20% 40% 60% 80%
Deferred Gain (Loss) - 547 (50,773) (68,177) 634,598 516,194 Final Actuarial Value of Assets 4,210,448$
Amounts in Thousands
Market Value of Assets 2,884,344$
Earnings 2017 2018 2019 2020 2021 Total
Actual 146,011 117,493 76,855 90,909 698,607 1,129,875 Expected 131,352 140,081 144,760 149,167 151,252 716,612 Gain or (Loss) 14,659 (22,588) (67,905) (58,258) 547,355 413,263 Deferred % 0% 20% 40% 60% 80%
Deferred Gain (Loss) - (4,518) (27,162) (34,955) 437,884 371,250 Final Actuarial Value of Assets 2,513,094$
Amounts in Thousands
Police and Fire
Federated
Actuarial Valuations for Pension and Healthcare for both Federated and Police and Fire as of 06/30/21
Purpose:
◦ Provide assurance the actuarial calculations are reasonable and actuarial process was conducted according to generally accepted actuarial principles and practices Process:
◦ Independent reproduction of the detailed valuation results ◦ Based on actuarial reports, employee data and supplemental information provided by the plans and actuary
Results:
◦ Overall for all plans, calculations of the normal cost, UAAL and the total City and member contribution rate as a percentage of payroll are reasonable for all valuations Segal’s total Police and Fire present value of future Pension benefits (PVB) is 101% of Cheiron’s total present value of future benefits
Segal’s total Police and Fire present value of future OPEB benefits is 98.7% and 102.3% of Cheiron’s total present value of future benefits on the explicit and implicit subsidy, respectively. Segal’s total Federated present value of future Pension benefits is 100% of Cheiron’s total present value of future benefits
Segal’s total Federated present value of future OPEB benefits is 99.6% and 96.4% of Cheiron’s total present value of future benefits on the explicit and implicit subsidy, respectively. 5 6For fiscal years ending