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CITY OFMOUNDS VIEW <br />Notes to Required Supplementary Information (continued) <br />December 31, 2023 <br />PERA — PUBLIC EMPLOYEES POLICE AND FIRE FUND (CONTINUED) <br />2020 CHANGES IN ACTUARIAL ASSUMPTIONS <br />• The mortality projection scale was changed from MP-2018 to MP-2019. <br />2019 CHANGES IN ACTUARIAL ASSUMPTIONS <br />• The mortality projection scale was changed from MP-2017 to MP-2018. <br />2018 CHANGES IN ACTUARIAL ASSUMPTIONS <br />• The mortality projection scale was changed from MP-2016 to MP-2017. <br />2018 CHANGES IN PLAN PROVISIONS <br />• Post -retirement benefit increases were changed to 1.00 percent for all years, with no trigger. <br />• An end date of July 1, 2048 was added to the existing $9.0 million state contribution. <br />• New annual state aid will equal $4.5 million in fiscal years 2019 and 2020, and $9.0 million <br />thereafter, until the plan reaches 100.00 percent funding, or July 1, 2048, if earlier. <br />• Member contributions were changed from 10.80 percent to 11.30 percent of pay, effective <br />January 1, 2019, and 11.80 percent of pay, effective January 1, 2020. <br />• Employer contributions were changed from 16.20 percent to 16.95 percent of pay, effective <br />January 1, 2019, and 17.70 percent of pay, effective January 1, 2020. <br />• Interest credited on member contributions decreased from 4.00 percent to 3.00 percent, <br />beginning July 1, 2018. <br />• Deferred augmentation was changed to zero percent, effective January 1, 2019. Augmentation <br />that has already accrued for deferred members will still apply. <br />• Actuarial equivalent factors were updated to reflect revised mortality and interest assumptions. <br />-71- <br />