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<br /> <br /> <br /> <br />October 13, 2022 25 <br />RESULTS <br />Actuarial Gain/Loss <br />(000’s Omitted) <br /> <br /> AAL Assets UAAL <br /> Actual @ 6/30/2019 $37,045 $21,231 $15,814 <br /> Expected @ 6/30/2021 40,572 25,353 15,218 <br />• Actual vs. expected premiums and claims (5,760) - (5,760) <br />• Asset/Contribution gain - 673 (673) <br />• CalPERS 2000-2019 experience study 277 - 277 <br />• Mortality improvement MP-2021 (178) - (178) <br />• Kaiser Medicare trend decreased <br />(also decreasing projected caps) (863) - (863) <br />• General inflation lowered by 0.25%9 97 - 97 <br />• Discount rate 6.25% 939 - 939 <br />• Other/Demographic10 (2,377) - (2,377) <br />• Total Increase/(Decrease) (7,865) 673 (8,537) <br /> Actual @ 6/30/2021 32,707 26,026 6,681 <br /> <br />9 Includes impact of lower discount rate, payroll increases, and medical trend <br />10 Includes terminations and retirements different than expected and medical coverage changes. <br /> <br /> <br /> <br /> <br />October 13, 2022 26 <br />RESULTS <br />Schedule of Funding Progress <br />(000’s Omitted) <br /> <br />Actuarial <br />Valuation <br />Date <br />Actuarial <br />Value of <br />Assets <br />(a) <br />Entry Age <br />Actuarial <br />Accrued <br />Liability <br />(b) <br />Unfunded <br />Actuarial <br />Accrued <br />Liability <br />(b-a) <br />Funded <br />Ratio <br />(a/b) <br />Covered <br />Payroll <br />(c) <br />UAAL as <br />Percentage <br />of Covered <br />Payroll <br />((b-a)/c) <br />6/30/13 $8,696 $32,064 $23,368 27.1% $14,088 165.9% <br />6/30/15 13,294 31,195 17,901 42.6% 14,781 121.1% <br />6/30/17 17,279 35,497 18,218 48.7% 16,989 107.2% <br />6/30/19 21,231 37,045 15,814 57.3% 18,104 87.4% <br />6/30/21 26,026 32,707 6,681 79.6% 19,455 34.3% <br /> <br />