Delaware County, Indiana
Schedule of County Contributions -
Sheriff's Retirement Plan
Last 10 Fiscal Years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Actuarially Determined Contribution | $1,276,206 |
$1,320,157 |
$1,135,961 |
$1,165,684 |
$1,230,226 |
$1,211,597 |
$1,155,731 |
$1,098,504 |
$1,103,054 |
$1,160,900 |
|
Contributions in Relation to the Contractually Required Contributions |
(1,504,573) | (1,475,127) | (1,628,960) | (1,263,220) | (1,230,226) | (1,251,515) | (1,224,465) | (1,276,579) | (969,112) | (1,181,537) |
| Contribution (Excess) | $(228,367) |
$(154,970) |
$(492,999) |
$(97,536) |
$- |
$(39,918) |
$(68,734) |
$(178,075) |
$133,942 |
$(20,637) |
| County's Covered Payroll | $2,945,261 |
$2,887,161 |
$2,558,168 |
$2,626,684 |
$1,994,927 |
$2,100,928 |
$2,063,384 |
$2,155,223 |
$2,032,474 |
$2,075,934 |
|
Contributions as a Percentage of Covered Payroll |
51.08% | 51.09% | 63.68% | 48.09% | 61.67% | 59.57% | 59.34% | 59.23% | 47.68% | 56.92% |
Notes:
Valuation date:
Actuarially determined contribution rates are calculated as of January 1, two years prior to the end of the fiscal year in which contributions are reported.
Methods and assumptions used to determine most current contributions rate above:
| Actuarial cost method | Entry Age Normal Cost |
| Amortization method | Level percentage of payroll, closed |
| Remaining amortization period | 25 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 | 6.75% |
| Retirement age | The later of age 55 and 10 years of service or one year from the valuation date (age 55 for participants hired prior to December 1, 2014), or one year from the valuation date. |
| Mortality |
Pub-2010 Safety Amount-Weighted Mortality Projected Generationally with Scale MP-2020 (separate employee, retiree, contingent survivor, and disabled retiree tables and male & female tables) |
Other information:
None