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CITY OF ST. ANTHONY, MINNESOTA <br />REQUIRED SUPPLEMENTARY INFORMATION <br />NOTES TO RSI <br />December 31, 2018 <br /> <br /> <br /> <br /> <br />Note A LEGAL COMPLIANCE – BUDGETS <br /> <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 /> <br />Note B OPEB INFORMATION <br /> <br />No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75 to pay <br />related benefits. There are no factors that affect trends in the amounts reported. <br /> <br /> <br />Note C PENSION INFORMATION <br /> <br />PERA – General Employees Retirement Fund <br /> <br />2018 Changes <br />Changes in Actuarial Assumptions: <br />- The mortality projection scale was changed from MP-2015 to MP-2017. <br /> <br />- The assumed benefit increase was changed from 1.0% per year through 2044 and 2.50% per year <br />thereafter to 1.25% per year. <br /> <br />2017 Changes <br />Changes in Actuarial Assumptions: <br />- The Combined Service Annuity (CSA) loads were changed from 0.8% for active members and 60% <br />for vested and non-vested deferred members. The revised CSA loads are now 0.0% for active member <br />liability, 15.0% for vested deferred member liability and 3.0% for non-vested deferred member <br />liability. <br /> <br />- The assumed post-retirement benefit increase rate was changed from 1.0% per year for all years to <br />1.0% per year through 2044 and 2.5% per year thereafter. <br /> <br />2016 Changes <br />Changes in Actuarial Assumptions: <br />- The assumed post-retirement benefit increase rate was changed from 1.0% per year through 2035 and <br />2.5% per year thereafter to 1.0% per year for all future years. <br /> <br />- The assumed investment return was changed from 7.9% to 7.5%. The single discount rate was changed <br />from 7.9% to 7.5%. <br /> <br />- Other assumptions were changed pursuant to the experience study dated June 30, 2015. The assumed <br />future salary increases, payroll growth, and inflation were decreased by 0.25% to 3.25% for payroll <br />growth and 2.50% for inflation. <br /> <br />PERA – Public Employees Police and Fire Fund <br /> <br />2018 Changes <br />Changes in Actuarial Assumptions: <br />- The mortality projection scale was changed from MP-2016 to MP-2017. <br /> <br />107