Page 326 - 2022-23 Blue Book Vol 2

City Employees' Retirement Fund

2021-22 2022-23 Change From
CITY CONTRIBUTION: Adopted Proposed 2021-22
Budget Budget Budget

Tier 1 Requirements
Retirement
1. Employer Normal Cost $ 154,992,194 $ 153,884,743 $ (1,107,451)

2. Amortization of UAAL 1 365,403,636 390,852,799 25,449,163
Health
3. Employer Normal Cost $ 61,052,025 $ 62,673,715 $ 1,621,690
4. Amortization of UAAL 14,717,899 5,418,477 (9,299,422)

Subtotal $ 596,165,754 $ 612,829,734 $ 16,663,980

Tier 3 Requirements 2

Retirement
1. Employer Normal Cost $ 29,442,993 $ 37,932,266 $ 8,489,273
2. Amortization of UAAL 111,296,724 155,170,933 43,874,209

Health
3. Employer Normal Cost $ 21,694,838 $ 29,542,710 $ 7,847,872

4. Amortization of UAAL 4,482,862 2,151,168 (2,331,694)
Subtotal $ 166,917,417 $ 224,797,077 $ 57,879,660

TOTAL CITY ACTUARIAL CONTRIBUTION $ 763,083,171 $ 837,626,811 $ 74,543,640

ADJUSTMENTS:

Other Adjustments
Family Death Benefit Plan $ 71,000 $ 47,000 $ (24,000)
Excess Benefit Plan Fund 1,464,000 1,332,000 (132,000)

Limited Term Plan Fund 27,000 55,000 28,000

Subtotal $ 1,562,000 $ 1,434,000 $ (128,000)

Annual Contribution True-Up Owed/(Credited) 3 $ (34,089,399) $ (75,194,360) $ (41,104,961)
Subtotal $ (34,089,399) $ (75,194,360) $ (41,104,961)

GRAND TOTAL PAYMENT $ 730,555,772 $ 763,866,451 $ 33,310,679

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