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City of Santa Ana
<br />Pension Obligation Bonds
<br />Scenario 1 - Base Case
<br />Amounts in $000s
<br />Amortization Base
<br />Year
<br />Balances
<br />UAL Refunded
<br />UAL Remaining
<br />Fresh Start
<br />2005
<br />(2,800.549)
<br />(2,800.549)
<br />Benefit Change
<br />2006
<br />1,500.690
<br />1,500.690
<br />Assumption Change
<br />2009
<br />14,083.767
<br />-
<br />14,083.767
<br />Special (Gain)/Loss
<br />2009
<br />31,769.094
<br />(31,769.094)
<br />-
<br />Special (Gain)/Loss
<br />2010
<br />(11,745.462)
<br />-
<br />(11,745.462)
<br />Assumption Change
<br />2011
<br />15,355.805
<br />-
<br />15,355.805
<br />Special (Gain)/Loss
<br />2011
<br />(4,365.942)
<br />(4,365.942)
<br />Payment (Gain)/Loss
<br />2012
<br />8,239.758
<br />(8,239.758)
<br />-
<br />(Gain)/Loss
<br />2012
<br />74,443.250
<br />(74,443.250)
<br />-
<br />(Gain)/Loss
<br />2013
<br />140,365.987
<br />(140,365.987)
<br />-
<br />Assumption Change
<br />2014
<br />52,003.240
<br />-
<br />52,003.240
<br />(Gain)/Loss
<br />2014
<br />(84,279.949)
<br />-
<br />(84,279.949)
<br />(Gain)/Loss
<br />2015
<br />59,805.689
<br />(28,078.909)
<br />31,726.780
<br />Assumption Change
<br />2016
<br />19,756.175
<br />-
<br />19,756.175
<br />(Gain)/Loss
<br />2016
<br />51,205.324
<br />(12,516.578)
<br />38,688.746
<br />Assumption Change
<br />2017
<br />23,218.574
<br />-
<br />23,218.574
<br />(Gain)/Loss
<br />2017
<br />(33,611.702)
<br />-
<br />(33,611.702)
<br />Method Change
<br />2018
<br />5,497.157
<br />(5,497.157)
<br />-
<br />Assumption Change
<br />2018
<br />40,053.249
<br />(40,053.249)
<br />-
<br />(Gain)/Loss
<br />2018
<br />(1,536.868)
<br />(1,536.868)
<br />Non -Investment (Gain)/Loss
<br />2019
<br />5,058.705
<br />(5,058.705)
<br />-
<br />Investment (Gain)/Loss
<br />2019
<br />4,675.386
<br />(4,675.386)
<br />-
<br />Total 408,691.378 (350,698.072) 57,993.306
<br />BofA Securities - Preliminary Analysis 3/10/2021 Page 17 of 18
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