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6.A. - Page 130 of 191 <br />NOTE 3 — POST -EMPLOYMENT BENEFITS, CONTINUED <br />B. Schedule of Contributions Last Ten Fiscal Years <br />City of Redwood City <br />Fiscal Year Ended June 30 <br />Actuarially Determined Contribution (ADC) <br />Contributions in relation to the ADC <br />Contribution deficiency (excess) <br />Covered -employee payroll <br />Contributions as a percentage of covered -employee payroll <br />Notes to Schedule: <br />Methods and assumptions used to determine contributions: <br />2019 2018 <br />$ 6,983,000 $ 6,777,000 <br />8,553,676 6,830,404 <br />$ (1,570,676) $ 53,404 <br />73,074,208 73,121,435 <br />11.7% 9.3% <br />Actuarial Cost Method <br />Entry Age Normal <br />Amortization Method/Period <br />Straightline Amortization <br />Asset Valuation Method <br />Market value <br />Inflation <br />2.75% <br />Payroll Growth <br />3% annual increases <br />Investment Rate of Return <br />6.75% <br />Healthcare cost -trend rates <br />Non -Medicare -6.25% decreasing to 4.75% <br />Medicare -6.45% decreasing to 4.75% <br />Retirement Age <br />The probabilities of Retirement are based on the 2014 Ca1PERS Experience <br />Study for the period from 1997 to 2011. <br />Mortality <br />Pre -retirement mortality probability based on 2014 Ca1PERS 1997-2011 <br />Experience Study covering Ca1PERS participants. Post-retirement mortality <br />probability based on Ca1PERS Experience Study 2007-2011 covering <br />participants in Ca1PERS. <br />Historical information is required only for measurement periods for which GASB 75 is applicable. Future years' information will <br />be displayed up to 10 years as information becomes available. <br />102 137 <br />