ELK GROVE PARK DISTRICT, ILLINOIS Illinois Municipal Retirement Fund Schedule of Employer Contributions December 31, 2021
Actuarially Determined Contribution
Fiscal Year 2015 2016 2017 2018 2019 2020 2021
$
555,784 578,012 564,066 593,523 510,698 484,946 482,515
Contributions in Relation to the Actuarially Determined Contribution $
628,572 634,300 739,066 593,523 510,698 566,946 582,515
Contribution Excess/ (Deficiency) $
72,788 56,288 175,000 — — 82,000 100,000
Covered Payroll
Contributions as a Percentage of Covered Payroll
$ 5,258,131 5,468,416 5,487,027 5,647,225 5,785,373 5,126,276 4,938,742
11.95% 11.60% 13.47% 10.51% 8.83% 11.06% 11.79%
Notes to the Required Supplementary Information: Actuarial Cost Method Amortization Method Remaining Amortization Period Asset Valuation Method Inflation Salary Increases Investment Rate of Return Retirement Age Mortality
Entry Age Normal Level % Pay (Closed) 22 Years 5-Year Smoothed Fair Value 2.50% 3.35% - 14.25% 7.25% See the Notes to the Financial Statements IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015).
Note: This schedule is intended to show information for ten years. Information for additional years will be displayed as it becomes available.
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