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<br /> <br /> <br /> <br />September 5, 2024 17 <br />ACTUARIAL ASSUMPTION HIGHLIGHTS <br /> June 30, 2021 Valuation June 30, 2023 Valuation <br /> Medicare <br />Eligibility <br /> Actives <br />• Hired < 4/1/86: 70% <br />• Hired > 4/1/86: 100% <br /> Current retirees < 65: <br />• Hired < 4/1/86: 70% <br />• Hired > 4/1/86: 100% <br /> Everyone eligible for Medicare <br />will elect Part B coverage <br />Based on current retiree data <br /> Actives <br />• Hired < 4/1/86: 75% <br />• Hired > 4/1/86: 100% <br /> Current retirees < 65: <br />• Hired < 4/1/86: 75% <br />• Hired > 4/1/86: 100% <br /> Everyone eligible for Medicare <br />will elect Part B coverage <br />Based on current retiree data <br /> <br /> <br /> <br /> <br /> <br />September 5, 2024 18 <br />ACTUARIAL METHODS <br /> June 30, 2021 Valuation June 30, 2023 Valuation <br /> Data  Participant data at 6/30/21  Participant data at 6/30/23 <br /> Cost Method  Entry Age Normal  Same <br /> Funding Policy  Full prefunding through <br />CERBT beginning fiscal year <br />2010/11 <br /> Same <br /> Actuarial Value of <br />Assets <br /> Investment gains/losses <br />spread over a 5-year rolling <br />period <br /> Not less than 80% nor more <br />than 120% of market value <br /> Market value of assets <br /> Amortization <br />Method <br /> Level Percent of Payroll  Same