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<br /> <br /> <br /> <br />October 13, 2022 15 <br />ACTUARIAL METHODS <br /> June 30, 2019 Valuation June 30, 2021 Valuation <br /> Data  Participant data at 6/30/19  Participant data at 6/30/21 <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 /> Same <br /> Amortization <br />Method <br /> Level Percent of Payroll  Same <br /> Amortization <br />Period <br /> 18 years from 6/30/20  16 years from 6/30/22 <br /> <br /> <br /> <br /> <br />October 13, 2022 16 <br />ACTUARIAL METHODS <br /> June 30, 2019 Valuation June 30, 2021 Valuation <br /> “Implied <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 implied subsidy until Medicare eligibility or lifetime if <br />not Medicare eligible <br />