GRS 2023 Capital Market Assumption Set

Investment Return Assumption How does this impact the outcomes? Projected Contribution Rates Sensitivity to Changes in Assumptions and Actual Investment Returns 45% 36% 29.0% 27% 18% 9% 0% 40.6% 37.3% 30.5% 16.2% 7.0% 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Future 7% Investment Returns Fiscal Year Future 6% Investment Returns Future 5% Investment Returns Change Assumption to 5%, Actual Return 5% Assumes all other assumptions exactly met GRS 16

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