Laserfiche WebLink
Cavanaugh l~Iacd®nald <br />~~i~~~f~rG~~, ~~~ <br />April 19, 2007 The experience and dedication yczz deserve <br />Ms, Pamela S. Dubois <br />Deputy County Manager <br />Cabarrus County <br />65 Church Street <br />Concord, NC 28025 <br />December 31, 2005 Actuarial Valuation of <br />The Health Care Plan of Cabarrus County <br />Dear Ms Dubois: <br />Enclosed are the results of the December 31, 2005 Actuarial Valuation of the Health Care Plan of <br />Cabarrus County. In preparing the valuation, the actuary relied on data provided by the employer and the <br />Local Governmental Employees' Retirement System. While not verifying the data at source, the actuary <br />performed tests for consistency and reasonability. The assumptions used by the actuary are in the <br />aggregate reasonably related to the experience under the program and the reasonable expectations of <br />anticipated experience under the program. <br />The valuation was based on an assumed interest rate of 4%. Schedule A summarizes the valuation <br />results, including membership data, the valuation balance sheet and the actuarially determined <br />contribution rates. Schedule C outlines the full set of actuarial assumptions and methods employed. <br />Schedule D provides a summary of the benefit and contribution provisions taken into account. <br />The annual required contribution was determined in accordance with the accounting requirements under <br />GASB Statement No. 43 and GASB Statement No. 45. We have presented the required GASB disclosure <br />information in Schedule B. <br />If you have any questions about this information, please call us at 678.388.1700. <br />Respectfully submitted, l <br />1 I'U`v'~ V _ <br />Todd B. Green <br />Senior Consultant <br />TBG/AB:sh <br />Enclosure <br />Alisa Bennett, EA, ACA, MAAA <br />Senior Actuary <br />~"~ <br />