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<br />
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<br />September 5, 2024 19
<br />ACTUARIAL METHODS
<br /> June 30, 2021 Valuation June 30, 2023 Valuation
<br /> Amortization
<br />Period
<br /> 16 years from 6/30/22 14-year fixed period for
<br />projected 6/30/22 UAAL
<br /> 15-year fixed period for
<br />assumption and experience
<br />gains and losses
<br /> “Implicit
<br />Subsidy”
<br /> Employer cost for allowing retirees to participate, irrespective of
<br />employer contribution
<br /> Fire Department demographics combined with City of
<br />Pleasanton for claims cost development
<br /> Value implicit subsidy until Medicare eligibility or lifetime if
<br />not Medicare eligible
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<br />September 5, 2024 20
<br />ASSETS
<br />LPFD Retiree Healthcare Reserve
<br />
<br /> 2020/21 2021/22 2022/23
<br /> Balance
<br />(beginning of year) $954,843 $1,053,194 $977,912
<br /> Income
<br />• Annual Contribution 1,730,000 1,480,000 1,480,000
<br />• Interest Income 2,840 (69,558) (278)
<br />• Subtotal 1,732,840 1,410,442 1,479,722
<br /> Expenditures
<br />• Benefit Payments4 (1,150,398) (1,115,688) (2,282,272)
<br />• Trust Contribution (477,000) (366,000) -
<br />• Professional Services Fees (7,092) (4,035) (15,445)
<br />• Subtotal (1,634,490) (1,485,723) (2,297,717)
<br /> Balance
<br />(end of year) 1,053,194 977,912 159,918
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<br />4 Does not include implicit subsidy payments of $394,000 for 2020/21, $431,000 for 2021/22, and $371,000 for 2022/23.
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