Fiscal year Ended June 30, 2007 - psers

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TABLE 3
DETERMINATION OF HEALTH INSURANCE CONTRIBUTION RATE
FOR FISCAL YEAR 2008/2009
($ Amounts in Thousands)
Item
1. June 30, 2007 Balance in Health Insurance Account $ 97,292
2. Estimated Fiscal 2007/2008 Contribution
(a) Contribution Rate Certified in 2006 Valuation 0.69%
(b) Estimated Fiscal 2007/2008 payroll $ 11,977,344
(c) Estimated Contribution = (a) x (b) $ 82,644
3. Estimated Number of Annuitants who: Are Eligible Elect Coverage
(a) Fiscal 2007/2008 110,000 72,600
(b) Fiscal 2008/2009 113,000 74,580
(c) Fiscal 2009/2010 115,900 76,494
4. Estimated Disbursements: Administration Assistance Total
(a) Fiscal 2007/2008 $ 2,205 $ 87,120 $ 89,325
(b) Fiscal 2008/2009 1,963 89,496 91,459
(c) Fiscal 2009/2010 2,042 91,793 93,835
(d) Total $ 6,210 $ 268,409 $ 274,619
5. Required Fiscal 2008/2009 Contribution $ 94,683
(4d) - (1) -(2c)
6. Required Health Insurance Contribution Rate
(a) Estimated 2008/2009 Payroll $ 12,500,000
(b) Required Health Insurance Contribution Rate (5) / (6a) 0.76%
(rounded up)
Notes:
1. Current estimates of fiscal 2007/2008 membership payroll and administrative expenses, and of
fiscal 2008/2009 administrative expenses, were provided by PSERS staff.
2. 66% of eligible annuitants are assumed to elect coverage.
3. Premium Assistance payments equal $100 per month per eligible annuitant.
THE PUBLIC SCHOOL EMPLOYEES’
RETIREMENT SYSTEM OF PENNSYLVANIA
BUCK CONSULTANTS