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CalPERS Actuarial Valuation - June 30, 2021 <br />Miscellaneous Plan of the City of Santa Ana <br />CalPERS ID: 4843991156 <br />Page 4 <br />Required Contributions <br />Fiscal Year <br />Required Employer Contributions 2023-24 <br />Employer Normal Cost Rate 12.55% <br />Plus <br />Required Payment on Amortization Bases $9,888,635 <br />Paid either as <br />1)Monthly Payment $824,053 <br /> Or <br />2)Annual Prepayment Option*$9,568,651 <br />Required PEPRA Member Contribution Rate 7.75% <br />The total minimum required employer contribution is the sum of the Plan’s Employer Normal Cost Rate <br />(expressed as a percentage of payroll and paid as payroll is reported) plus the Employer Unfunded Accrued <br />Liability (UAL) Contribution Amount (billed monthly (1) or prepaid 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 Append ix B. <br />Fiscal Year Fiscal Year <br />2022-23 2023-24 <br />Normal Cost Contribution as a Percentage of Payroll <br />Total Normal Cost 18.93% 20.47% <br />Employee Contribution1 7.70% 7.92% <br />Employer Normal Cost2 11.23% 12.55% <br />Projected Annual Payroll for Contribution Year $71,055,915 $73,868,846 <br />Estimated Employer Contributions Based On <br />Projected Payroll <br />Total Normal Cost $13,450,885 $15,120,953 <br />Employee Contribution 5,471,305 5,850,413 <br />Employer Normal Cost 7,979,580 9,270,540 <br />Unfunded Liability Contribution 29,148,807 9,888,635 <br />% of Projected Payroll (illustrative only) 41.02% 13.39% <br />Estimated Total Employer Contribution $37,128,387 $19,159,175 <br />% of Projected Payroll (illustrative only) 52.25% 25.94% <br />1 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 />2 The Employer Normal Cost is a blended rate for all benefit groups in the plan. For a breakout of normal cost by benefit <br />group, see “Normal Cost by Benefit Group” in the “Liabilities and Contributions” section. <br />EXHIBIT 1