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CITY OF EUGENE, OREGON
<br />Notes to Required Supplementary Information
<br />June 30, 2016
<br />(1) The City’s proportionate share of the net pension asset (liability) is actuarially determined by comparing the City’s
<br />projected long-term contributions to OPERS to the total projected long-term contributions to the plan from all
<br />employers.
<br />Schedule of City’s Proportionate Share of the Net Pension Asset (Liability)
<br />201620152014
<br />Proportion of the net pension asset (liability)1.31%1.35%1.35%
<br />Proportionate share of the net pension asset (liability)$(75,419,692)30,504,733(69,360,287)
<br />Covered-employee payroll100,127,79395,710,43592,451,727
<br />Proportionate share of the net pension asset (liability) as a
<br /> percentage of its covered-employee payroll-75.32%31.87%-75.02%
<br />Plan fiduciary net position as a percentage of the total
<br /> pension asset (liability)91.90%103.60%N/A
<br />Schedule of City contributions
<br />201620152014
<br />Contractually required contribution$14,860,75912,098,45511,751,145
<br />Contributions in relation to the contractually required
<br /> contribution(14,860,759)(12,098,455)(11,751,145)
<br />Contribution deficiency (excesses)$000
<br />Covered-employee payroll100,127,79395,710,43592,451,727
<br />Contributions as a percentage of covered-employee payroll14.84%12.64%12.71%
<br />Information about the significant methods and assumptions used in calculating the actuarially determined
<br />contributions may be found below.
<br /> Changes in Plan Provisions and Assumptions
<br />A summary of key changes in plan provisions are described in the Oregon Public Employees Retirement System’s
<br />GASB 68 Audit Report, which can be found at:
<br />https://www.oregon.gov/pers/EMP/docs/gasb_68_report.pdf
<br />Additional details and a comprehensive list of changes in methods and assumptions can be found in the 2014
<br />Experience Study for the System, which was published on September 23, 2015, and can be found at:
<br />https://www.oregon.gov/pers/docs/2014_experience_study_9-23-15.pdf
<br />(2) Schedule of Funding Progress – OPEB
<br />Other Post Employment Benefits schedule of funding progress:
<br /> Unfunded
<br /> Unfunded actuarial
<br />Actuarial Actuarial Actuarial actuarial accrued liability
<br />valuation value of accrued accrued Funded Covered as a percentage
<br />date assets liability liability ratio payroll of covered payroll
<br />06/30/11 $ 0 9,502,642 9,502,642 0% 91,224,907 10%
<br />06/30/13 0 14,171,194 14,171,194 0% 93,916,203 15%
<br />06/30/15 0 13,181,876 13,181,876 0% 97,086,746 14%
<br />The City’s other post employment benefits include retiree healthcare and waiver of life insurance premiums for
<br />disabled employees. The actuarial cost method for retiree healthcare benefits is entry age normal; the cost method
<br />for waiver of life insurance premiums for disabled employees is projected unit cost.
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