COG Comprehensive Annual Financial Report

Schedule 2

Schedule of Employer Contributions Law Enforcement Officers' Special Separation Allowance (LEOSSA) Pension Benefit Trust Required Supplementary Information Fiscal Year Ending June 30, 2018 and 2017

2018

2017

Actuarially determined employer contribution

$

3,406,217

3,924,814

Actual employer contributions

2,671,394

2,528,862

Annual contribution deficiency (excess) $

734,823

1,395,952

Covered payroll

$

38,197,009

37,437,239

Actual contributions as a percentage of covered payroll

6.99%

6.75%

Notes to the Required Schedule:

The information presented in the required supplementary schedules was determined as part of the actuarial valuations at the dates indicated. The following actuarial methods and assumptions were used to determine contribution rates:

Actuarial valuation Actuarial cost method Amortization method

12/31/2016 Entry age

Level dollar, closed

Remaining amortization period

14 years

Asset valuation method

Market value

Inflation

2.50%

Salary Increase

3.50% - 7.35%, including inflation 4.00%, net of pension plan investment expense, including inflation

Investment rate of return

All years for which information is available are presented.

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