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<br />RESULTS
<br />Estimated Benefit Payments
<br />(000’s Omitted)
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<br />FYE
<br />June 30,
<br />Benefit Payments
<br />Cash
<br />Benefits
<br />Implicit
<br />Subsidy Total
<br />2025 $3,406 $1,028 $4,434
<br />2026 3,656 1,143 4,800
<br />2027 3,886 1,264 5,150
<br />2028 4,027 1,330 5,357
<br />2029 4,196 1,440 5,636
<br />2030 4,301 1,420 5,721
<br />2031 4,446 1,306 5,752
<br />2032 4,595 1,380 5,975
<br />2033 4,756 1,459 6,215
<br />2034 4,887 1,453 6,340
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<br />ACTUARIAL CERTIFICATION
<br />This report presents the City of Pleasanton Retiree Healthcare Plan (“Plan”) June 30, 2023 actuarial valuation. The
<br />purpose of this valuation is to:
<br /> Provide the Plan’s June 30, 2023 Benefit Obligations and Funded Status, and
<br /> Calculate the 2024/25 and 2025/26 Actuarially Determined Contributions.
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<br />Information provided in this report may be useful to the City for the Plan’s financial management. Future actuarial
<br />measurements may differ significantly from the current measurements presented in this report due to such factors as: plan
<br />experience differing from that anticipated by the assumptions; changes in assumptions; changes expected as part of the
<br />natural progression of the plan; and changes in plan provisions or applicable law. Actuarial models necessarily rely on the
<br />use of estimates and are sensitive to changes. Small variations in estimates may lead to significant changes in actuarial
<br />measurements. Due to the limited scope of this assignment, we did not perform an analysis of the potential range of such
<br />measurements.
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<br />The valuation is based on Plan provisions, participant data, and asset information provided by the City as summarized in
<br />this report, which we relied on and did not audit. We reviewed the participant data for reasonableness.
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<br />To the best of our knowledge, this report is complete and accurate and has been conducted using generally accepted
<br />actuarial principles and practices. As members of the American Academy of Actuaries meeting the Academy
<br />Qualification Standards, we certify the actuarial results and opinions herein.
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<br />Respectfully submitted,
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<br />Doug Pryor, ASA, EA, MAAA Foster & Foster, Inc.
<br /> Katherine Moore, ASA, MAAA Foster & Foster, Inc.
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