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EXHIBIT 2 <br />CalPERS Actuarial Valuation -June 30, 2021 <br />Safety Plan of the City of Santa Ana <br />CalPERS ID: 4843991156 <br />Required Contributions <br />Fiscal Year <br />Required Employer Contributions 2023-24 <br />Employer Normal Cost Rate 24.17% <br />P/us <br />Required Payment on Amortization Bases $13,207,651 <br />Paid either as <br />1) Monthly Payment $1,100,638 <br />Or <br />2) Annual Prepayment Option* $12,780,268 <br />Required PEPRA Member Contribution Rate 12.75% <br />The total minimum required employer contribution is the sum of the Plan's Employer Normal Cost Rate <br />(expressed as a percentage of payrofl and paid as pa yroll is reported) plus the Employer Unfunded Accrued <br />Liability (UAL) Contribution Amount (billed monthly (1) orprepaid annually (2) in dollars). <br />*Only the UAL portion of the employer contribution can be prepaid (which must be received in full no <br />later than July 31). <br />For additional detail regarding the determination of the required contribution for PEPRA members, see <br />'PEPRA Member Contribution Rates' in the "Liabilities and Contributions'section. Required member <br />contributions for Classic members can be found in Appendix B. <br />Fiscal Year Fiscal Year <br />2022-23 2023-24 <br />Normal Cost Contribution as a Percentage of Payroll <br />Total Normal Cost 32.14% 34.43% <br />Employee Contribution' 10.07% 10.26% <br />Employer Normal Costz 22.07% 24.17% <br />Projected Annual Payroll for Contribution Year $52,074,227 $54,983,323 <br />Estimated Employer Contributions Based On <br />Projected Payroll <br />Total Normal Cost <br />$16,736,657 <br />$18,930,758 <br />Employee Contribution <br />5,243,875 <br />5,641,289 <br />Employer Normal Cost <br />11,492,782 <br />13,289,469 <br />Unfunded Liability Contribution <br />34,703,128 <br />13,207,651 <br />% of Projected Payroll (illustrative only) <br />66.64% <br />24.02% <br />Estimated Total Employer Contribution <br />$46,195,910 <br />$26,497,120 <br />% of Projected Payroll (illustrative only) <br />88.71% <br />48.19% <br />' For classic members, this is the percentage specified in the Public Employees'Retirement Law, net of any reduction from <br />the use of a modified formula or other factors. For PEPRA members, the member contribution rate is based on 50% of <br />the normal cost.A development of PEPRA member contribution rates can be found in the"Liabilities and Contributions" <br />section. Employee cost sharing is not shown in this report. <br />z The Employer Normal Cost is a blended rate forall benefit groups in the plan. Fora breakout of normal cost by benefit <br />group, see "Normal Cost by Benefit Group"in the "Liabilities and Contributions"section. <br />City Council 11 — 5 6/6/�Ml <br />