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Public Safety Pool <br />Restructuring Option <br />•On May 19, 2015 CalPERS approved <br />restructuring of CSL Pool; Finance Director <br />provided testimony <br />•Requires lower payments in next 3 years; higher <br />payments in years 4-15 <br />•Assumes unfunded liability extinguished after 15 <br />years instead of 30 years <br />•Assumes interest savings are $24.4 million using <br />a 7.5% discount rate <br />6