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Actuarial Valuation of Other Post - Employment Benefit Programs as of <br />April 1, 2012 for the Citv of Sample Citv <br />Table of Contents <br />A. Executive Summary ........................................................................ ............................... <br />1 <br />B. Requirements of GASB 45 ............................................................. ........................„...... <br />3 <br />C. Sources of OPEB Liabilities ............................................................ ............................... <br />4 <br />OPEB Obligations of the City ..................................................... ............................... <br />4 <br />D. Valuation Process ........................................................................... ............................... <br />5 <br />E. Basic Valuation Results .................................................................. ............................... <br />6 <br />Changes Since the Prior Valuation ............................................. ............................... <br />6 <br />F. Funding Policy ................................................................................ ............................... <br />8 <br />Determinationof the ARC .......................................................... ............................... <br />8 <br />Decisions Affecting the Amortization Payment ........................... ............................... <br />8 <br />Funding Policy Illustrated in This Report...........„ ........................ ............................... <br />8 <br />G. Choice of Actuarial Funding Method and Assumptions., ................................................ <br />9 <br />Factors Impacting the Selection of Funding Method... ................ .............................. <br />9 <br />Factors Affecting the Selection of Assumptions ......................... ............................... <br />9 <br />H. Certification .................................................................................. ............................... <br />10 <br />Table 1A Summary of Valuation Results Partially Prefunding Basis .... ............................... <br />11 <br />Table 1 B Calculation of the Annual Required Contribution. ................................................ <br />12 <br />Table 1C Expected OPEB Disclosures ................................................ ............................... <br />12 <br />Table 2 Summary of Employee Data ................................................... ............................... <br />14 <br />Table 3A Summary of Retiree Benefit Provisions ................................ ............................... <br />16 <br />Table 3B General CalPERS Annuitant Eligibility Provisions ................ ............................... <br />17 <br />Table 4 OPEB Valuation Actuarial Methods and Assumptions ........... ............................... <br />18 <br />Table 5 Projected Benefit Payments ................................................... ............................... <br />24 <br />Appendix 1 Determination of Blended Discount Rate ................ ............ ......... <br />.................... 25 <br />Appendix 2 Breakout of the City Plan Results by Group ...................... ........................... <br />„... 26 <br />Appendix 3 OPEB Disclosure Information ........................................... ............................... <br />28 <br />Appendix 4 Prefunding Results for FYE 2013 ..................................... ............................... <br />29 <br />Glossary.............................................................................................. ............................... <br />30 <br />