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<br />REDWOOD CITY <br />IMPACT OF 2ND TIER RETIREE HEALTH PROPOSAL <br />BASED ON THE JUNE 30, 2017 OPEB ACTUARIAL VALUATION <br /> <br /> September 24, 2018 <br />2 <br /> <br />Executive Management <br />Impact of Benefit Change for New Hires <br />(Amounts in thousands) <br /> <br /> New hires are not included in the 6/30/17 valuation results <br /> Benefit changes for new hires impact future year normal costs only <br /> Normal Cost: <br /> Current actives in 6/30/17 valuation: 3.1% <br /> Current actives under proposal: 2.9% <br /> Future actives under proposal: 2.7% <br /> Projection below reflects impact of proposal on both current and futures actives <br /> <br /> <br /> <br />Projected Actuarially Determined Contribution (ADC) Comparison <br />(Amounts in thousands) <br /> <br /> ADC - % of Payroll ADC - $ <br />Fiscal <br />Year <br />Current <br />Plan Proposal Impact <br />Current <br />Plan Proposal Impact <br />2017/18 8.7% 8.4% (0.3%) $ 376 $ 363 $ (13) <br />2018/19 8.7% 8.4% (0.3%) 387 373 (14) <br />2019/20 8.7% 8.4% (0.3%) 399 383 (16) <br />2020/21 8.7% 8.4% (0.3%) 411 393 (18) <br />2021/22 8.7% 8.3% (0.4%) 423 404 (19) <br />2022/23 8.7% 8.3% (0.4%) 436 416 (20) <br />2023/24 8.7% 8.3% (0.4%) 449 428 (21) <br />2024/25 8.7% 8.3% (0.4%) 463 440 (23) <br />2025/26 8.7% 8.3% (0.4%) 477 453 (24) <br />2026/27 8.7% 8.3% (0.4%) 491 466 (25) <br />: : : : : : : <br />2036/37 7.3% 7.0% (0.3%) 553 526 (27) <br />: : : : : : : <br />2046/47 3.1% 2.7% (0.4%) 316 276 (40) <br /> <br />8.A. - Page 20