Pension Reform Assessment

Neither a back-to-back 20% return, or a sustained 9% per year return would return contributions to previous levels Projected Contributions as a Rate of Payroll 50% 40% 30% 20% 10% 0% 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 9.00% each year Rate of Return: 7.50% each year .20% for FY2011 & 2012 & 7.50% thereafter •Expected ARC at each valuation date based on stated return during each year •Assumes continuation of current amortization policy and current member rate •Payroll grows at assumed 3.75% per year GRS 7

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