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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 />Unrepresented <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: 7.6% <br /> Current actives under proposal: 7.1% <br /> Future actives under proposal: 6.7% <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 13.9% 12.8% (1.1%) $ 106 $ 98 $ (8) <br />2018/19 13.9% 12.8% (1.1%) 109 101 (8) <br />2019/20 13.9% 12.6% (1.3%) 113 102 (11) <br />2020/21 13.9% 12.6% (1.3%) 116 105 (11) <br />2021/22 13.9% 12.6% (1.3%) 119 108 (11) <br />2022/23 13.9% 12.6% (1.3%) 123 111 (12) <br />2023/24 13.9% 12.6% (1.3%) 127 114 (13) <br />2024/25 13.9% 12.5% (1.4%) 130 118 (12) <br />2025/26 13.9% 12.5% (1.4%) 134 121 (13) <br />2026/27 13.9% 12.5% (1.4%) 138 125 (13) <br />: : : : : : : <br />2036/37 12.2% 11.4% (0.8%) 164 152 (12) <br />: : : : : : : <br />2046/47 7.6% 6.7% (0.9%) 137 120 (17) <br /> <br />8.A. - Page 22