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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 />POA Group <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: 6.9% <br /> Current actives under proposal: 6.8% <br /> Future actives under proposal: 6.6% <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 15.8% 15.6% (0.2%) $ 1,689 $ 1,667 $ (22) <br />2018/19 15.8% 15.6% (0.2%) 1,740 1,717 (23) <br />2019/20 15.8% 15.6% (0.2%) 1,792 1,768 (24) <br />2020/21 15.8% 15.6% (0.2%) 1,846 1,820 (26) <br />2021/22 15.8% 15.6% (0.2%) 1,901 1,873 (28) <br />2022/23 15.8% 15.5% (0.3%) 1,958 1,928 (30) <br />2023/24 15.8% 15.5% (0.3%) 2,017 1,985 (32) <br />2024/25 15.8% 15.5% (0.3%) 2,078 2,043 (35) <br />2025/26 15.8% 15.5% (0.3%) 2,140 2,102 (38) <br />2026/27 15.8% 15.5% (0.3%) 2,204 2,164 (40) <br />: : : : : : : <br />2036/37 13.6% 13.3% (0.3%) 2,546 2,488 (58) <br />: : : : : : : <br />2046/47 6.9% 6.5% (0.4%) 1,742 1,649 (93) <br /> <br />8.A. - Page 10