tailieunhanh - financial audit of the department of public safety_part7

Chương 3: Kiểm toán tài chính của các phòng ban của công tố viên của Quận và Tổng chưởng lý, các nhà điều tra ma tuý thực thi, và các nhà điều tra an toàn công cộng được yêu cầu phải đóng góp 12,2% của tiền lương của họ. | Chapter 3 Financial Audit of the departments of the County Prosecuting Attorney and the Attorney General narcotics enforcement investigators and public safety investigators are required to contribute of their salary. The funding method used to calculate the total employer contribution requirement is the Entry Age Normal Actuarial Cost Method. Under this method employer contributions to the ERS are comprised of normal cost plus level annual payments required to liquidate the unfunded actuarial liability over the remaining period of 27 years from June 30 2002. Contributions by the department for the fiscal years ended June 30 2005 2004 and 2003 were approximately 11 269 000 8 893 000 and 8 568 000 respectively which are equal to the required contributions. The contribution rate for the fiscal year ended June 30 2005 was . The contribution rate was and for the fiscal years ended June 30 2004 and 2003 respectively. Postretirement Health Care and Life Insurance Benefits In addition to providing pension benefits the State provides certain health care and life insurance benefits to retired state employees. Contributions are financed on a pay-as-you-go basis. The department s share of the postretirement health care and life insurance benefits expense for the fiscal year ended June 30 2005 was approximately 6 863 000. Deferred Compensation Plan The State offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan available to all state employees permits employees to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination retirement death or unforeseeable emergency. All plan assets are held in a trust fund to protect them from claims of general creditors. The State has no responsibility for loss due to the investment or failure of investment of funds and assets in the plan but does have the duty of due care that would be .