FY2016 CCDOA Financial Report as of 6302016.pdf - page 76

CLARK COUNTY DEPARTMENT OF AVIATION
CLARK COUNTY, NEVADA
Notes to Financial Statements
For the Fiscal Years Ended June 30, 2016 and 2015
63
Long-termGeometric
Target
Expected Real Rate of
Asset Class
Allocation
Return *
Domestic Equity
42%
5.50%
International Equity
18%
5.75%
Domestic Fixed Income
30%
0.25%
10%
6.80%
* As of June 30, 2015 and 2014, the PERS long-term inflation assumption was
3.5 percent, respectively.
Private Markets
Net Pension Liability
The net pension liability was measured as of June 30, 2015, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of that date. The
employer allocation percentage of the net pension liability was based on the total contributions
due on wages paid during the measurement period. Each employer’s proportion of the net
pension liability is based on their combined employer and member contributions relative to the
total combined employer and member contributions for all employers for the fiscal years ended
June 30, 2015 and 2014.
Pension Liability Discount Rate Sensitivity
The following presents the Department's share, 14.8 percent, of the County’s net pension liability as of
June 30, 2015 and 2014, calculated using the discount rate of 8.00 percent, as well as what the PERS
net pension liability would be if it were calculated using a discount rate that is one percentage point
lower (7.00 percent) or one percentage point higher (9.00 percent) than the current discount rate:
1% Decrease in
1% Increase in
Discount Rate
Discount Rate
Discount Rate
Fiscal Year
(7.00%)
(8.00%)
(9.00%)
2014
202,632,080
$
130,300,856
$
70,175,191
$
2015
217,540,244
142,761,701
80,578,120
1...,66,67,68,69,70,71,72,73,74,75 77,78,79,80,81,82,83,84,85,86,...169
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