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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 />COA <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: 3.2% <br /> Current actives under proposal: 3.1% <br /> Future actives under proposal: 3.0% <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 8.0% 7.8% (0.2%) $ 87 $ 84 $ (3) <br />2018/19 8.0% 7.6% (0.4%) 89 85 (4) <br />2019/20 8.0% 7.6% (0.4%) 92 87 (5) <br />2020/21 8.0% 7.6% (0.4%) 94 90 (4) <br />2021/22 8.0% 7.6% (0.4%) 97 92 (5) <br />2022/23 8.0% 7.5% (0.5%) 100 94 (6) <br />2023/24 8.0% 7.5% (0.5%) 103 97 (6) <br />2024/25 8.0% 7.5% (0.5%) 106 100 (6) <br />2025/26 8.0% 7.5% (0.5%) 109 103 (6) <br />2026/27 8.0% 7.5% (0.5%) 113 106 (7) <br />: : : : : : : <br />2036/37 6.8% 6.5% (0.3%) 129 124 (5) <br />: : : : : : : <br />2046/47 3.2% 3.0% (0.2%) 82 75 (7) <br /> <br />8.A. - Page 12