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Methods and Assumptions <br /> . .. � . ., , __ . <br /> Valuation/Census Data Date January 1,2018 <br /> Measurement Date January 1,2018 <br /> Actuarial Cost Method Entry Age,level percentage of pay <br /> Actuarial Assets None <br /> Amortization of Deferred Average of expected remaining service on a closed basis for <br /> Resource Flows differences between expected and actual experience and <br /> assumption changes. <br /> . . � . . _ �- .- -- _- <br /> Discount Rate 3.30% <br /> 20-Year Municipal Bond Yield 3.30% <br /> Inflation Rate 2.50% <br /> Salary Increases 3.00% <br /> Medical Trend Rate 6.50%as of January 1,2018 grading to 5.00%over 6 years <br /> Dental Trend Rate NA <br /> - -_.-a;�t X^,_ x . ., - - <br /> • � � • r._ .- . . _ .. , . .,#, _ � _, <br /> Mortality RP-2014 White Collar Mortality Tables with MP-2017 <br /> Generational Improvement Scale(with Blue Collar <br /> adjustment for Police and Fire Personnel) <br /> Disability None <br /> Withdrawal See sample rates <br /> Retirement See sample rates <br /> Expenses Assumed paid outside of Plan <br /> Percent Married Current Retirees:Actual retiree/spouse elections used. <br /> Future Retirees: Males 85%,Females 65% <br /> Age Difference Actual spouse birthdate for current retirees(if provided). For <br /> all others,males assumed to be 3 years older than females. <br /> Retiree Plan Participation Future Retirees Electing Coverage: <br /> Pre-65 subsidy available: 100% <br /> Pre-65 subsidy not available: 5% <br /> Percent of Married Retirees Percent Future Retirees Electing Pre-65 Spouse Coverage: <br /> Electing Spouse Coverage Spouse subsidy available: 5% <br /> Spouse subsidy not available: 5% <br /> Benefits Not Included C'ity of Pequot Lakes provides access to dental insurance <br /> during retirement. However,the implicit rate liability is not <br /> significant for dental insurance and has not been included in <br /> this valuation. <br /> City of Pequot Lakes <br /> Page 14 <br />