Institutional Federal Compliance Report 2021

____________________________________________________________________________________________ STATE OF NEW YORK • 147

Upstate Plan

Schedule of Employer Contributions June 30, 2018 (Amounts in millions) 2017 2016 2015

2014

2013

actuarially determined contribution . . . . . . . . . . . . . . $ contributions in relation to the actuarially determined contribution . . . . . . . . . . . . . . . . . . . . .

2.0 $

2.6 $

1.9 $

1.5 $

2.6

2.0

2.8

2.0

3.5

2.6

contribution excess . . . . . . . . . . . . . . . . . . . . . . . . . . $ —00000 $

0.2 $ 27.3 $

0.1 $ 29.9 $

2.0 $ —00000

covered employee payroll . . . . . . . . . . . . . . . . . . . . . $ contribution as a percentage of covered payroll . . . .

25.5 $

33.6 $

36.0 7.14%

7.90%

10.24%

6.76%

9.02%

2012

2011

actuarially determined contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ contributions in relation to the actuarially determined contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 contribution excess . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ —00000 $ —00000 covered employee payroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 16.0** $ 21.9* contribution as a percentage of covered payroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.57% 5.44% 3.0 $ 1.2 3.0

**Period from January 1, 2011 through July 6, 2011 **Period from July 7, 2011 through December 31, 2011 See independent auditors’ report. Schedule is intended to display ten years of information. Additional years will be displayed as they become available.

Changes in Assumptions The actuarial assumptions for the mortality basis used for the January 1, 2018 actuarial valuation were not changed from the January 1, 2017 valuation other than the projected mortality improvements using Scale MP-2017 on a fully generational basis.

Methods and Assumptions Used in Calculations of Actuarially Determined Contributions The January 1, 2018 actuarial valuation determines the employer rates for contributions payable in 2018. The following actuarial methods and assumptions were used:

investment rate of return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.5 percent Mortality basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . rp-2014 Mortality Tables, by gender, with fully generational improvements using scale Mp-2017. amortization method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . level dollar, 20 year closed remaining amortization period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.5 years asset valuation method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Market value inflation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 percent compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.5 percent increases, limited to a maximum of $270,000 Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1992 vaughn select and ultimate Table See independent auditors’ report.