CITY OF LAGUNA NIGUEL SCHEDULE OF THE CITY’S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY AND RELATED RATIOS LAST TEN FISCAL YEARS Measurement Period June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017 June 30, 2018 City's Proportion of the Net Pension Liability 0.07294% 0.06905% 0.07545% 0.07849% 0.07924% Cit y's Proportionate Share of the Net Pension Liability $ 4,538,778 $ 4,739,802 $ 6,528,796 $ 7,784,390 $ 7,635,951 City's Covered Payroll $ 5,358,655 $ 5,256,476 $ 5,508,425 $ 5,759,712 $ 6,079,244 City's Proportionate Share of the Net Pension Liability as a Percentage of Covered Payroll 84.70% 90.17% 118.52% 135.15% 125.61% Plan's Proportionate Share of the Fiduciary Net Position as a Percenta ge of the Total Pension Liability 83.03% 83.02% 78.49% 77.30% 78.97% Measurement Period June 30, 2019 June 30, 2020 June 30, 2021 June 30, 2022 June 30, 2023 Cit y's Proportion of the Net Pension Liability 0.08299% 0.08621% 0.09199% 0.09845% 0.24302% City's Proportionate Share of the Net Pension Liability $ 8,504,317 $ 9,380,067 $ 4,974,843 $ 11,371,523 $ 7,365,509 City's Covered Payroll $ 6,140,757 $ 6,447,797 $ 6,234,178 $ 6,854,621 $ 6,969,135 City's Proportionate Share of the Net Pension Liability as a Percentage of Covered Payroll 138.49% 145.48% 79.80% 165.90% 105.69% Plan's Proportionate Share of the Fiduciary Net Position as a Percentage of the Total Pension Liability 77.49% 77.71% 90.49% 78.19% 84.74% Notes to Schedules: Change in Benefit Terms: The figures above do not include any liability impact that may have resulted from plan changes which occurred after June 30, 2017 valuation date. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes). Changes of Assumptions: In 2022 (measurement date), the accounting discount rate was reduced from 7.15% to 6.90% and the inflation rate decreased from 2.50% to 2.30%. None in 2021, 2020, and 2019. In 2018, demo graphic assumptions and inflation were changed in accordance to CalPERS Experience Study and Review of Actuarial Assumptions December 2017. In 2017, the accounting discount rate was reduced from 7.65% to 7.15%. (77)