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Schedule 1
Schedule of Funding Progress
Law Enforcement Officers' Special Separation Allowance
Required Supplementary Information
Years Ended December 31, 2006- 2015
Actuarial
Valuation Date
Actuarial
Value of
Assets
(a)
Actuarial
Accrued
Liability
(b)
1
Funded
Ratio
(a) / (b)
Unfunded
Actuarial
Accrued
Liability
(b) - (a)
Covered
Payroll (c)
Unfunded
Actuarial
Accrued
Liability as a
Percentage of
Covered
Payroll
((b - a) / c)
12/31/06
4,928,994
17,108,957
28.8
12,179,963
28,904,571
42.1
12/31/07
5,303,623
19,222,221
27.6
13,918,598
30,409,922
45.8
12/31/08
5,508,789
20,246,141
27.2
14,737,352
32,424,296
45.5
12/31/09
5,711,795
20,222,331
28.2
14,510,536
33,925,054
42.8
12/31/10
5,929,167
21,154,975
28.0
15,225,808
32,888,679
46.3
12/31/11
6,049,722
21,719,945
27.9
15,670,233
34,008,872
46.1
12/31/12
6,074,645
22,108,659
27.5
16,034,014
34,308,314
46.7
12/31/13
6,152,335
22,620,327
27.2
16,467,992
36,294,681
45.4
12/31/14
6,311,610
23,109,232
27.3
16,797,622
37,206,540
45.1
12/31/15
6,366,653
32,672,426
19.5
26,305,773
38,648,789
68.1
(1) For years prior to 12/31/15, the projected unit credit actuarial cost method was used.
Beginning with 12/31/15, the entry age normal actuarial cost method is used.
Analysis of the dollar amounts of plan net position, actuarial accrued liability, and unfunded actuarial
accrued liability in isolation can be misleading. Expressing plan net position as a percentage of the
actuarial accrued liability provides one indication if PERS funding status is a going-concern basis.
Analysis of this percentage over time indicates whether the system is becoming financially stronger or
weaker. Generally, the greater this percentage, the stronger the PERS. Trends in the unfunded
actuarial accrued liability and annual covered payroll are both affected by inflation. Expressing the
unfunded actuarial accrued liability as a percentage of annual covered payroll approximately adjusts
for the effects of inflation and aids analysis of PERS progress made in accumulating sufficient assets to
pay benefits when due. Generally, the smaller this percentage, the stronger the PERS.
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