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Actuarial Methods and Assumptions. The total OPEB liability was determined by <br />an actuarial valuation as of October 1, 2021, using the following actuarial assumptions, <br />applied to all periods included in the measurement, unless otherwise specified: <br />Methods and Assumptions Used to Determine Net OPEB Liability <br />Actuarial Cost Method Entry age normal <br />Inflation 2.25% <br />Discount Rate 6.00% <br />Salary Increases 3.4% to 7.8%, including inflation, varies by plan type <br />and years of service. <br />Retirement Age Experience -based table of rates that are specific to the <br />plan and type of eligibility condition. <br />Mortality Mortality tables used in the July 1, 2020 actuarial <br />valuation of the FRS. They are based on the results of <br />a statewide experience study covering the period 2013 <br />through 2018. <br />Healthcare Cost Trend Rates Based on the Getzen Model, with trend starting at 6.0% <br />and gradually decreasing to an ultimate trend rate of <br />3.75°/x. <br />Aging Factors Based on the 2013 SOA Study "Health Care Costs - <br />From Birth to Death." <br />Expenses Investment expenses are net of the investment returns; <br />Administrative expenses are included in the per capita <br />health costs. <br />Other Information <br />Notes Effective July 1, 2023, per Senate Bill 7024, the <br />retirement eligibility for Special Risk members hired <br />on or after July 1, 2011 was lowered to the earlier of: <br />(1) age 55 with six years of creditable service, or (2) <br />25 years of creditable service regardless of age. In <br />addition, the maximum DROP participation period <br />was extended from 5 to eight years for all eligible for <br />DROP. <br />45 <br />152 <br />