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CITY OF SAN LEANDRO Notes to Required Supplementary Information For the year ended June 30, 2024 City of San Leandro Agent Multiple Employer Defined Benefit Retirement Plan - Miscellaneous Plan As of fiscal year ending June 30, SCHEDULE OF CONTRIBUTIONS Last 10 Years Fiscal Year 2015 2016 2017 2018 2019 Actuarially determined contribution 5,043,060$ 5,638,865$ 6,387,063$ 6,873,205$ 7,688,583$ Contributions in relation to the actuarially determined contributions (5,043,060) (5,638,865) (6,387,063) (6,873,205) (7,688,583) Contribution deficiency (excess)-$ -$ -$ -$ -$ Covered payroll 19,979,507$ 21,037,041$ 21,903,698$ 22,864,060$ 22,638,587$ Contributions as a percentage of covered payroll 25.24%26.80%29.16%30.06%33.96% Notes to Schedule Valuation date:6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 Methods and assumptions used to determine contribution rates: Entry age normal Level percentage of payroll Fair Value of Assets 2.75% for 2015 to 2019, 2.625% for 2020, and 2.50% for 2021 and 2022 2.30% for 2023 and 2024. Varies by entry age and service 2.75% Mortality Salary increases Payroll growth Investment rate of return Inflation Actuarial cost method Amortization method Retirement age Asset valuation method The probabilities of retirement are based on the CalPERS Experience Study. 7.50% for 2015 to 2018, 7.375% for 2019, 7.25% for 2020, and 7.00% for 2021, 2022, 2023 and 2024, net of pension plan investment expense and administrative expenses, includes inflation The probabilities of mortality are based on the CalPERS Experience Study. Pre-retirement and Post- retirement mortality rates include 20 years of projected mortality improvement using Scale AA published by the Society of Actuaries for 2015 to 2018. For 2019, 2020, 2021, 2022, 2023 and 2024, pre-retirement and post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. 98