Letter_1946_August 21_SERS - Laserfiche WebLink

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.~ Y • ' r p. Over 25 year period Percentage of annual Salaries q. Over 30 year period Percentage of annual Salaries 27. Total Annual Contributions required of Agency (Items 24, 25, 26), prior service liquidated r. Over 20 year period Percentage of Annual salaries s. Over 25 year period Percentage of Annual Salaries t. Over 30 year period Percentage of Annual ' ~ , 1 2 3 4 Employees other than Local Firemen Totals of Local Local and local Columns Firemen Policemen Policemen 1, 2, & 3 X10,248.81 X12,454.46 ~y28,377.42 ~w51,080.69 9.623 11.343 6.621 ?.921 9,021.?5 10,963.32 24,979.88 44,964.95 8.471 9.985 28,476.49 31,318.03 26.738 26,612.53 28.523 29,052.93 24,988 25,385.4? 26.460 27,561.79 5,828 6.972 64,663.2? 124,457.79 15.08? 19.299. 59,502.25 115,167.71 13.883 17.858 56,104.71 109,051.97 Salaries 23.836 25.102 13.090 16.910 In connection with the foregoing data, the following statements are sub- mitted: 28. Items 24 to 27, both inclusive quote the approximate contribution which would be required of the. Agency by its participation in the State Employees Retirement System. The contributions in Items 24 and 25 are based on the annual salaries now being paid. The amount of these contributions will change, therefore, as the amount of annual salaries changes. The percentages from Items 21 and 22, ho~rever, properly may be applied to members° total salaries on each payroll to determine the amount of the contribution for current service, until a periodic revaluation determines a different percentage. 29. Item 26 is based on the present value of prior service liabilities, assumed to be liquidated over various periods. This contribution is a fixed amount, dependent upon the period selected for liquida- tion, and does not depend upon salaries being paid currently. The amounts quoted in Item 26 remain unchanged, except as thF~y are re- determined in periodic revaluations. F 119-8 11-45 400