Page 118 - Moreno Valley 2025 Annual Financial Report

City of Moreno Valley, California

Schedule of Contributions ‐ OPEB
Last Ten Years*

2017 2018 2019 2020 2021 2022 2023 2024 2025
Actuarially Determined Contribution (ADC) $ 642,132 $ 659,902 $ - $ 908,656 $ 1,114,937 $ 1,367,308 $ 1,405,197 $ 1,090,184 $ 793,133
Contributions in relation to the ADC (1,116,747) (927,877) (956,519) (934,040) (1,838,078) (2,005,598) (1,367,308) (2,546,531) (1,406,963)
Contribution deficiency / (excess) $ (474,615) $ (267,975) $ (956,519) $ (25,384) $ (723,141) $ (638,290) $ 37,889 $ (1,456,347) $ (613,830)

Covered-employee payroll - employer fiscal year $ 21,269,539 $ 20,682,710 $ 24,421,260 $ 21,287,842 $ 23,236,495 $ 24,579,873 $ 22,296,347 $ 28,941,720 $ 29,752,088
Contributions as a % of covered-employee payroll 5.30% 4.50% 3.90% 4.40% 7.90% 8.20% 6.10% 8.80% 4.73%

Notes to Schedule:
* Historical information is required only for measurement periods where GASB 75 is applicable. The City adopted GASB 75 for the fiscal year ending June 30, 2017.

Notes to Schedule:

Assumptions and Methods
Actuarial cost method Entry age normal cost, level percent of pay
Amortization method Closed period, level percent of pay
Amortization period 19 years
97
Inflation 2.30%
Payroll growth 2.80%
Healthcare trend rates 6.80%, trending down to 4.04%
Rate of Return on Assets 6.40%
Mortality rate CalPERS rates. See appendix.
Retirement rates CalPERS rates. See appendix.