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2 <br />Actuarial Certification, Reliances and Distribution <br />This valuation has been conducted in accordance with generally accepted <br />actuarial principles and practices. The consulting actuaries are members <br />of the Society of Actuaries and other professional actuarial <br />organizations and meet their "General Qualification Standard for Public <br />Statements of Actuarial Opinion" relating to postretirement Medical <br />plans. <br />In preparing the results presented in this report, we have relied upon <br />information provided to us regarding plan provisions, plan participants, <br />and plan assets. We have reviewed this information for overall <br />reasonableness and consistency but have neither audited nor <br />independently verified this information. The accuracy of the results <br />presented in this report is dependent upon the accuracy and completeness <br />of the underlying information. <br />The results shown in this report have been developed on the basis of <br />actuarial assumptions, selected by City of Lino Lakes Minnesota, which <br />are considered to be reasonable and within the "best- estimate range" as <br />described by the Actuarial Standards of Practice. Other actuarial <br />assumptions could also be considered to be reasonable and within the <br />best - estimate range. Thus, reasonable results differing from those <br />presented in this report could have been developed by selecting <br />different points within the best - estimate ranges for various <br />assumptions. <br />The information contained in this report was prepared for the internal <br />use of City of Lino Lakes Minnesota and its auditors in connection with <br />the actuarial valuation of the postretirement Medical plan. It is <br />neither intended nor necessarily suitable for other purposes. City of <br />Lino Lakes Minnesota may distribute this actuarial valuation report to <br />parties who have a legal right to require the City to provide them with <br />this report, in which case the City will provide this report in its <br />entirety including all assumptions, caveats and limitations. <br />Duane Hanf, F.S.A., M.A.A.A. <br />Hanf Actuarial <br />November 2008 <br />Richard Johnson, F.S.A., M.A.A.A. <br />City of Lino Lakes Minnesota, Retiree Health Benefit Plan - November 2008 <br />