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CITY OF LINO LAKES, MINNESOTA <br />REQUIRED SUPPLEMENTARY INFORMATION <br />NOTES TO RSI <br />December 31, 2016 <br />Note A LEGAL COMPLIANCE — BUDGETS <br />The General Fund budget is legally adopted on a basis consistent with accounting principles generally accepted <br />in the United States of America. The legal level of budgetary control is at the department level for the General <br />Fund. <br />Note B PENSION INFORMATION <br />PERA — General Employees Retirement Fund <br />2016 Changes in Actuarial Assumptions: <br />• The assumed post-retirement benefit increase rate was changed from 1.0% per year through 2035 <br />and 2.5% per year thereafter to 1.0% per year for all future years. <br />The assumed investment return was changed from 7.9% to 7.5%. The single discount rate was <br />changed from 7.9% to 7.5%. <br />• Other assumptions were changed pursuant to the experience study dated June 30, 2015. The <br />assumed future salary increases, payroll growth, and inflation were decreased by 0.25% to 3.25% <br />for payroll growth and 2.50% for inflation. <br />PERA — Public Employees Police and Fire Fund <br />2016 Changes in Actuarial Assumptions: <br />• The assumed post-retirement benefit increase rate was changed from 1.0% per year through 2037 <br />and 2.5% per year thereafter to 1.0% per year for all future years. <br />• The assumed investment return was changed from 7.9% to 7.5%. The single discount rate <br />changed from 7.9% to 5.6%. <br />• The assumed future salary increases, payroll growth, and inflation were decreased by 0.25% to <br />3.25% for payroll growth and 2.50% for inflation. <br />Single Employer — Fire Division <br />There are no factors that affect trends in the amounts reported, such as change of benefit terms or <br />assumptions. With only one year reported in the RSI, there is no additional information to include in the <br />notes. <br />M' <br />