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Actuarial Assumptions
The total pension liability was determined by an actuarial valuation as of July 1, 2019, using the following actuarial assumptions, applied to all periods included in the measurement:
Valuation Date July 1, 2019
Actuarial Cost Method Entry Age Normal
Amortization Method Level Percent Open
Remaining Amortization Period 30 Years Asset Valuation Method Fair Market Value Actuarial Assumptions:
Investment Rate of Return * 6.78%
Projected Salary Increases 3.00%
*Includes Inflation at: 2.50%
Cost-of-Living Adjustments None
The actuarial assumptions that determined the total pension liability as of June 30, 2019, were based on expectations as to future plan experience and not the results of a historical actuarial experience study.