Delaware County, IN
Notes to Required Supplementary Information
Year Ended December 31, 2025
Sheriff Retirement Plan
Actuarial cost method
Entry Age Normal Cost
Amortization method
Level percentage of payroll, closed
Remaining amortization period
20 years
Asset valuation method
5-Year Asset Smoothing limited to 80% and 120% of market value
Inflation
3.00%
Salary increases
4.00% average, including inflation
Investment rate of return
6.50%
Retirement age
The later of age 55 and 10 years of service or one year from the valuation date
Mortality
Pub-2010 Safety Amount-Weighted Mortality Projected Generationally with Scale MP-2021 (separate employee & annuitant tables and male & female tables)
Sheriff Benefit Plan
Actuarial cost method
Aggregate
Amortization method
Not applicable
Remaining amortization period
Not applicable
Asset value method
5-Year Asset Smoothing limited to 80% and 120% of market value
Inflation
3.00%
Salary increases
4.00% average, including inflation
Investment rate of return
6.50%
Retirement age
The later of age 55 and 10 years of service or one year from the valuation date
Mortality
Pub-2010 Safety Amount-Weighted Mortality Projected Generationally with Scale MP-2021 (separate employee & annuitant tables and male and female tables)
OPEB Plan
Cost method
Entry Age Normal Level % of Salary
Amortization method
Not Applicable
Assumptions:
Discount rate
4.28% as of December 31, 2024, and 4.00% as of December 31, 2023
Discount rate basis
20-year tax-exempt general obligation municipal bonds with an average rating of AA/Aa or higher
Inflation rate
3.00% per annum
Payroll growth
2.65% for general wage inflation
Disability
None
Mortality
Active employees and retirees; SOA Pub-2010 General Headcount Weighted Mortality Table fully generational using Scale MP-2021, Surviving spouses: SOA Pub-2010 survivor Headcount Weighted Mortality Table fully generational using Scale MP-2021