Delaware County, Indiana
Notes to Financial Statements
December 31, 2025
Key Methods and Assumptions
Key methods and assumptions used to calculate the total pension liability in the latest actuarial valuations are presented below:
| Valuation Date: | |
| Assets: | June 30, 2025 |
| Liabilities: | June 30, 2024 - Member census data as of June 30, 2024 was used in the valuation and adjusted, where appropriate, to reflect changes between June 30, 2024 and June 30, 2025. Standard actuarial roll forward techniques were then used to project the total pension liability computed as of June 30, 2024 to the June 30, 2025 measurement date. |
| Actuarial Cost Method: | Entry Age Normal (Level percent of payroll) |
| Experience Study Date: | Period of five years ended June 30, 2024 |
| Investment Rate of Return: | 6.25%, net of investment expense, including inflation |
| Cost of Living Increases: | 2026-2029 - Annual 13th checks, Beginning July 1, 2029 - For members retired before 7/1/2029 - indexed 13th check, For members retired on or after 7/1/2029 - 1% COLA |
| Salary Increases, Including Inflation: | 2.90%-8.90% for five years, then 2.65%-8.65% |
| Inflation: | 2.00% |
| Mortality: | Pub-2010 Public Retirement Plans Mortality Tables with a fully generational projection of mortality improvements using SOA Scale MP-2019. |
| Healthy: | General Employee table with a three year set forward for males and a one year set forward for females. |
| Retirees: | General Retiree with a three year set forward for males and a one year set forward for females. |
| Beneficiaries: | Contingent Survivor table with no set forward for males and a two year set forward for females. |
| Disability: | General Disabled table with a 140% load. |
| Funding Policy Location: | www.in.gov/inprs/publications/ |
Change in Assumptions
The COLA assumption was revised following the passage of HEA 1221-2025. 13th checks for fiscal years 2027-2029 are assumed to be paid at the typical historical levels.
The range of the future salary increase assumption was increased to 2.90% to 8.90% for the five-year period ending June 30, 2030, returning to 2.65% to 8.65% thereafter.
The disability assumption was updated based on recent experience.
Changes in Actuarial Methods
Decrements are now assumed to occur at the middle of the year.