HomeMy WebLinkAbout03.b. Old Business re Actuarial Value vs. Valuation ValueSAA
AMLCentral Contra Costa Sanitary District
November 24, 2014
TO: FINANCE COMMITTEE
VIA: ROGER S. BAILEY, GENERAL MANAGER
FROM: THEA VASSALLO, FINANCE MANAGER
SUBJECT: ADDITIONAL INFORMATION REQUESTED REGARDING ACTUARIAL
VALUE AND VALUATION VALUE
At the November 12, 2014 Finance Committee meeting, Chair Causey requested
information on the difference between actuarial and valuation value in Chart 12, below,
on Investment Return from 2004 -2013 on page 11 of the abridged CCCERA Valuation
and Review, which was included in the November 12, 2014 agenda packet.
CHART 12
Investment Return — Market Value, Actuarial Value, and Valuation Value: 2004 — 2013
}Jute' Each years yield is wtghted by the average asset vwiue in Mai ywr
Per Finance Administrator Todd Smithey, actuarial value is all the plan's assets. The
valuation value does not include the $15 million CCCERA has set aside for the post -
retirement death benefit. The amount relative to all of the assets is so small that
graphing the two almost looks like they are the same line.
TV:cg
Market Value Investment
Actuarial Value
Valuation Value
Return
Investment Return
Investment Return
Year Ended
Percent
Percent
Percent
December 31
Amount
of Assets
Amount
of Assets
Amount
of Assets
2004
$406,427,237
1127%
$136.674,234
3.85%
5135,741,405
3.840/•
2005
331,400,271
8.71%
216.618.073
5,74%
215.737.484
5.740 ,
2406
603,899,378
14.23%
353,776,306
4.63%
352,439.472
8,64 %s
2007
294,694,885
6,03 %
522;206,583
11.630.E
521,211,436
11.64%
2008
(1,477,705,765)
(28.35 %a)
236,397,117
4.73%
237,402,12,9
4.72%
2009
736,956,891
19.68%
13,226,93;
0.34%
17,021,116
0.32 %
2010
594,637,090
13,35 %0
95,9111.913
1.425"0
9035.030
1,80%
2011
88,042,268
1.76%
1411.050411
2.74%0
1.46;988.614
2.77%
2012 .
668,138,997
13.31%
121,921,302
2.25%
120,426 „177
2:340,6
2013
870,984,744
15.50"!0
492,503,802
9.01%
491,324308
%02 %
Natal
$3,117,475,946
52,344,301,411
52,333,926,1.71
Flvv -Year A verage Returaa
12.41 %
3.27%rb
3.26%
Tern -Year A vertaze
Rectum
6.88%
4,W1 ,4
4.90%,
}Jute' Each years yield is wtghted by the average asset vwiue in Mai ywr
Per Finance Administrator Todd Smithey, actuarial value is all the plan's assets. The
valuation value does not include the $15 million CCCERA has set aside for the post -
retirement death benefit. The amount relative to all of the assets is so small that
graphing the two almost looks like they are the same line.
TV:cg