Institutional Federal Compliance Report 2021

134 • Required Supplementary Information _______________________________________________________________________

SCHEDULE OF FUNDING PROGRESS (unaudited)

Other Postemployment Benefits (Amounts in millions) Actuarial

UAAL as a Percentage Covered

Actuarial Value of Assets

Accrued Liability (AAL)

Unfunded

AAL

Funded Ratio

Covered Payroll

(UAAL)

Payroll ((b-a)/c)

Actuarial Valuation Date

(a)

(b)

(b-a)

(a/b)

(c)

Governmental Activities: april 1, 2016 (1) . . . . . . . . . . . . . . $ —00000 $ april 1, 2014 (2) . . . . . . . . . . . . . . $ —00000 $ april 1, 2012 (3) . . . . . . . . . . . . . . $ —00000 $ Business-Type Activities: SUNY april 1, 2016 . . . . . . . . . . . . . . . $ —00000 $ april 1, 2014 . . . . . . . . . . . . . . . $ —00000 $ april 1, 2012 . . . . . . . . . . . . . . . $ —00000 $ CUNY june 30, 2016 . . . . . . . . . . . . . . $ —00000 $ june 30, 2015 . . . . . . . . . . . . . . $ —00000 $ june 30, 2014 . . . . . . . . . . . . . . $ —00000 $

72,830 $ 63,426 $ 54,279 $

72,830 63,426 54,279

—% —% —%

$ $ $

8,676 8,463 8,597

839.44% 749.45% 631.37%

17,699 $ 14,427 $ 13,933 $ 1,239 $ 1,186 $ 1,124 $

17,699 14,427 13,933

—% —% —% —% —% —%

$ $ $ $ $ $

3,785 3,337 3,201 1,069 1,026 1,020

467.61% 432.33% 435.27%

1,239 1,186 1,124

115.90% 115.59%

110.20% (1) AAL and UAAL as of 4/1/2016 reflect updates to nearly all of the demographic and medical cost assumptions and a 52 basis point reduction in the discount rate. Updates to assumptions used for medical trends and excise tax resulted in a 10.5 percent increase in the liability.

(2) AAL and UAAL as of 4/1/2014 was determined using the Society of Actuaries’ MP-2014 longevity scale. (3) AAL and UAAL as of 4/1/2012 reflect the State’s decision to implement an Employer Group Waiver Plan. See independent auditors’ report.