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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2018
<br />I NOTE 13 -PENSION PLAN (Continued) I
<br />The table below reflects the long-term expected real rate of return by asset class. The rate of return was
<br />calculated using the capital market assumptions applied to determine the discount rate and asset
<br />allocation. These rates of return are net of administrative expenses.
<br />New
<br />Strategic Real Return Real Return
<br />Asset Class Allocation Years 1 -lO(a) Years 11 +(b)
<br />Global Equity 47.0%
<br />Global Fixed Income 19.0%
<br />Inflation Sensitive 6.0%
<br />Private Equity 12.0%
<br />Real Estate 11.0%
<br />Infrastructure and Forestland 3.0%
<br />Liquidity 2.0%
<br />Total 100%
<br />(a) An expected inflation of2.5% used for this period.
<br />(b) An expected inflation of 3. 0% used for this period.
<br />C. Miscellaneous (All Other) Agents Multiple-Employer Plan
<br />4.90% 5.38%
<br />0.80% 2.27%
<br />0.60% 1.39%
<br />6.60% 6.63%
<br />2.80% 5.21%
<br />3.90% 5.36%
<br />-0.40% -0.90%
<br />The changes in the Net Pension Liability for the City's Miscellaneous Plan are as follows:
<br />Increase (Decrease)
<br />Total Pension Plan Fiduciary Net Pension
<br />Liabilit~ Net Position Liability/(Asset)
<br />Balance at June 30, 2016 $ 268,595,247 $ 186,151,563 $ 82,443,684
<br />Changes in the year:
<br />Service cost 4,044,169 4,044,169
<br />Interest on the total pension liability 19,808,061 19,808,061
<br />Changes of benefit tenns
<br />Changes of assumptions 15,476,760 15,476,760
<br />Differences between expected and actual
<br />experience (1,248,019) (1,248,019)
<br />Plan to plan resource movement
<br />Contributions -employer 6,399,288 (6,399,288)
<br />Contributions -employees 1,695,139 (1,695,139)
<br />Net investment income 20,564,284 (20,564,284)
<br />Benefit payments, including refunds of employee
<br />contributions (15,620,511) (15,620,511)
<br />Administrative expense (274,840) 274,840
<br />Net changes 22,460,460 12,763,360 9,697,100
<br />Balance at June 30, 2017 $ 291,055,707 $ 198,914,923 $ 92,140,784
<br />78 543
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