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<br /> <br /> <br /> <br />September 5, 2024 21 <br />ASSETS <br />Market Value of Plan Assets <br />(000’s Omitted) <br /> <br /> 2020/21 2021/22 2022/23 <br />Projected <br />2023/245 <br /> Market Value <br />(Beginning of Year) $22,586 $29,272 $25,701 $27,339 <br />• Trust Contribution 477 366 - - <br />• Trust Withdrawals6 - - - - <br />• Administrative Expenses (13) (14) (13) (14) <br />• Net Investment Return 6,222 (3,922) 1,651 1,708 <br /> Market Value <br />(End of Year) 29,272 25,701 27,339 29,034 <br /> Approximate Annual Return 27.5% (13.4%) 6.4% 6.25% <br /> <br />5 Projection assumes no trust contributions or withdrawals in 2023/24 <br />6 Benefit payments paid outside trust by the LPFD. <br /> <br /> <br /> <br /> <br />September 5, 2024 22 <br />ASSETS <br />Actuarial Value of Plan Assets <br />(000’s Omitted) <br /> <br /> 2020/21 2021/22 2022/23 <br /> Actuarial Value <br />(Beginning of Year) $23,182 $26,026 $27,544 <br />• Contributions 477 366 - <br />• Trust Withdrawals - - - <br />• Administrative Expenses (13) (14) (13) <br />• Expected Earnings 1,568 1,627 1,721 <br /> Expected AVA (End of Year) 25,215 28,005 29,252 <br /> MVA (End of Year) 29,272 25,701 27,339 <br /> 1/5 of (MVA - Expected AVA) 811 (461) (383) <br /> Preliminary AVA 26,026 27,544 28,870 <br />• Minimum AVA (80% of MVA) 23,417 20,561 21,872 <br />• Maximum AVA (120% of MVA) 35,126 30,842 32,807 <br /> Actuarial Value <br />(End of Year) 26,026 27,544 28,870 <br /> Approximate Annual Return 10.2% 4.5% 4.9%