Laserfiche WebLink
City of Santa Ana <br />Pension Obligation Bonds <br />Scenario 2 - Base Case <br />Amounts in $000s <br />Assumptions <br />Expected Annual Return <br />Annual Volatility <br />Results <br />Probability of Success <br />Average Present Value Benefit <br />Percentiles <br />P5 <br />P25 <br />P50 <br />P75 <br />P95 <br />7.000% <br />12.000% <br />86.10% <br />209,034.346 Discounted at Actuarial Discount Rate <br />(56,493.802) (5% of outcomes less than) <br />45,546.592 (25% of outcomes less than) <br />149,668.678 (Median) <br />295,852.997 (25% of outcomes greater than) <br />668,146.338 (5% of outcomes greater than) <br />750.0 <br />600.0 <br />450.0 <br />LL <br />w 300.0 <br />m <br />a <br />150.0 <br />(150.0) III I <br />SIMULATIONS (ORDERED BY PV BENEFIT) <br />Stress Test Scenarios <br />Base Case Stress Test 1 Stress Test 2 Stress Test 3 <br />-20% in First Year, <br />7% Annual Returns 6% Annual Returns 5% Annual Returns <br />7% After <br />PV Benefit 210,433.520 210,433.520 210,433.520 210,433.520 <br />PV Future UALs due to Act Losses - (160,030.373) (73,798.655) (130,933.294) <br />Net PV Benefit 210,433.520 50,403.147 136,634.865 79,500.226 <br />Net PV Benefit (% of Par Amount) 32.4% 7.8% 21.1% 12.3% <br />BofA Securities - Preliminary Analysis 3/10/2021 Page 14 of 18 <br />