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BOARD OF ADMINISTRATION <br />' ,r. ~. -- <br />THOS. E. STANTO N, PFESIDEVT <br />H. H. BENEDICT <br />JOHN R. CORNWELL. <br />DONALD C-ALLAC:HER <br />FORD A. CHATTERS <br />JAMES DEAN <br />WALTER C. KENNEDY <br />JOSEPH H. STEPHENS <br /> <br />~ o <br />STATE OF CALIFORNIA <br />~~~~~ ~Iti~~Q~1PPS' ~E~tL'PI1i.Pki~ ~~~~EZii <br />702 STATE OFFICE BUILDING NO. i <br />TENTH AND L STREETS <br />SACRAMENTO 14 <br />Gity Council <br />City of Santa Ana, California <br />Gentlemen: <br />EARL W. CHAPMAN <br />EXECUTIVE SECRETARY <br />RALPH R. NELSON <br />ACTUARY <br />Enclosed is the Consulting Actuaries' report on the investigation into the <br />employment ©xperience of ~ i City of Santa Ana , hereinafter <br />Name of Subdivision <br />referred to as subdivision, arch suc},. valuation of the benefits and contributions <br />provided in the State Employeest Reti.roment Act, as was necessary to determine the <br />approximate, as distinguished frpm the definitive, contribution which would be re- <br />quired by the participation of said subdivision in the State Employees' Retirement <br />System. The following comments axe submitted: <br />1. The approximate contribution tivhich would be required of the subdivision by <br />its participation in said Retirement System, under various assumptions acid <br />segregated according to employee groups, is hereby quoted by the Board of <br />Administration to said subdi~tision, to be the amounts and percentages as <br />given in items 2Z~. to 27 on pages 7 and 8 of. the report. The amounts and per- <br />centages given in these items are subject to the statements in items 28 to <br />31, both inclusive, of the report, and to the statements in this letter. <br />2. As an illustration of the approximate contributign shotivn in th© report, <br />the following amounts are tak@n :from column Z~, applying to all employees: <br />a, Subdivision's contribut~,on to provide service pensions,. <br />current service, from item 2_1a. '~ 27 367.12 <br />b. Subdivision's contribution to provide current service <br />death. anal disability benefits, from item 25 ~Ig 478.65 <br />c. Total annual contributions to provide benefits based <br />on current service, i.e., service rendered after the <br />effective date of participation ~4&,845.77 <br />d. Subdivision's contribution to provide benefits based <br />or_ prior service, i.e., service rendered prior to <br />said effective date of participation, liquidat©d over <br />a 25 year period, from item 26 '.28,835.49 <br />e. Total approximate annual contribution as given in item <br />27 (o), subject to adjustm~rt as explained, and to be <br />reduced after 25 years by ~:he amount in item (d) `~ 75,681.26 <br />~~12G-1 5-l~t~ 15G <br />