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CalPERS Actuarial Valuation - June 30, 2021 <br />Safety 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 24.17% <br />Plus <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 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 32.14% 34.43% <br />Employee Contribution1 10.07% 10.26% <br />Employer Normal Cost2 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 $16,736,657 $18,930,758 <br />Employee Contribution 5,243,875 5,641,289 <br />Employer Normal Cost 11,492,782 13,289,469 <br />Unfunded Liability Contribution 34,703,128 13,207,651 <br />% of Projected Payroll (illustrative only) 66.64% 24.02% <br />Estimated Total Employer Contribution $46,195,910 $26,497,120 <br />% of Projected Payroll (illustrative only) 88.71% 48.19% <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 2