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ERS PFRS Measurement Date © March 31, 2025 March 31, 2025 Actuarial Valuation Date April 1, 2024 April 1, 2024 Interest Rate 5.9% 5.9% Salary Scale . 4.3% 6.0% Decrement Tables April 1, 2015 - April 1, 2015 - March 31, 2020 March 31, 2020 System's experience System's experience inflation Rate 2.9% 2.9% Cost of Living Adjustment 1.5% 15% The annuitant mortality rates are based on April 1, 2015 — March 31, 2020 System’s experience with adjustments for mortality improvements based on Society of Actuaries’ Scale MP-2020. The actuarial assumptions used in the April 1, 2024 valuation are based on the results of an actuarial experience study for the period April 1, 2015 — March 3 1, 2020. The long-term rate of return on pension plan investments was determi ned using a building block method in . which best estimate ranges of expected future real rates of return (expected returns net of investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long term expected rate of return by weighting the expected future real rates of return by each the target asset allocation percentage and by adding expected inflation. Best estimates of the arithmetic real rates of return for each major asset class included in the target asset allocati on are summarized below. ERS.andPFRS Measurement Date: March 31, 2025 Long-Term Expected Real Asset type Percentage Rate of Return Domestic equity 25.00% 3.54% International equity 14.00% 6.57% Private equity 15.00% 7.25% Real estate 12.00% 4.95% Opportunistic portfolio 3.00% 5.25% Credit 4.00% 5.40% Real assets 4.00% 5.55% Fixed income 22.00% 2.00% Cash 1.00% 25.00% 09.Q0% Discount Rate - The discount rate used to calculate the total pension liabilities was 5.9%. The projection of cash flows used to determine the discount rate assumes that contribu tions from plan members will be made at the current contribution rates and that contributions from employers will be made at statutorily required rates, actuarially. Based upon the assumptions, the Systems ’ fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. 25