Agda Pkt 2026.07.27 Joint SA PFA

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City of Redwood City Notes to the Basic Financial Statements (Continued) For the Year Ended June 30, 2025 109 Note 12 – Pension Plans (Continued) B. City (Continued) Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions (Continued) The Expected Average Remaining Service Lifetime (“EARSL”) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired) in the risk pool. For the Miscellaneous Plan, the EARSL for the measurement period ended June 30, 2024 is 2.9 years, which was obtained by dividing the total service years of 4,555 (the sum of remaining service lifetimes of the active employees) by 1,575 (the total number of participants: active, inactive, and retired). For the Safety Plan, the EARSL for the measurement period ended June 30, 2024 is 3.5 years, which was obtained by dividing the total service years of 2,131 (the sum of remaining service lifetimes of the active employees) by 614 (the total number of participants: active, inactive, and retired). At June 30, 2025 the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows Deferred Inflows of Resources of Resources Pension contributions made subsequent to measurement date 17,116,743$ -$ Difference between projected and actual earning on pension plan investments 4,594,140 - Differences between expected and actual experience 4,219,393 - Total 25,930,276$ -$ Deferred Outflows Deferred Inflows of Resources of Resources Pension contributions made subsequent to measurement date 21,309,767$ -$ Difference between projected and actual earning on pension plan investments 4,770,605 - Changes in assumptions 1,277,552 - Differences between expected and actual experience 9,241,249 - Total 36,599,173$ -$ Miscellaneous Plan Safety Plan 7.C. - Page 141 of 269 160