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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 $80,869 $48,991 $31,878 <br /> Expected @ 6/30/2021 86,943 57,243 29,700 <br />• Actual vs. expected premiums and claims (13,798) - (13,798) <br />• Asset/Contribution gain - 1,077 (1,077) <br />• Medical plan elections <br />(changed to less expensive plans) (404) - (404) <br />• CalPERS 2000-2019 experience study 105 - 105 <br />• Mortality improvement MP-2021 (382) - (382) <br />• Kaiser Medicare trend decreased <br />(also decreasing projected caps) (2,192) - (2,192) <br />• General inflation lowered by 0.25%8 208 - 208 <br />• Discount rate 6.25% 1,969 - 1,969 <br />• Other/Demographic9 (905) - (905) <br />• Total Increase/(Decrease) (15,399) 1,077 (16,476) <br /> Actual @ 6/30/2021 71,544 58,320 13,224 <br /> <br />8 Includes impact of lower discount rate, payroll increases, and medical trend <br />9 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 $19,361 $74,631 $55,270 25.9% $32,281 171.2% <br />6/30/15 33,015 77,076 44,061 42.8% 33,742 130.6% <br />6/30/17 41,099 88,084 46,985 46.7% 36,280 129.5% <br />6/30/19 48,991 80,869 31,878 60.6% 38,286 83.3% <br />6/30/21 58,320 71,544 13,224 81.5% 40,944 32.3% <br />