Notes to Required Supplementary Information

from Annual Comprehensive Financial Report FY 2021-22

Management’s Discussion and Analysis

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

Factors that Affect Trends. The actuarial assumptions used in the June 30, 2022 valuation for PSPRS were based on the results of an actuarial experience study for the 5‐year period ended June 30, 2016. The total pension liability used to calculate the net pension liability for PSPRS was determined by an actuarial valuation as of that date. The total pension liability as of June 30, 2022 reflects changes of benefit terms and actuarial assumptions including changes in the amortization method for Tiers 1 and 2.

Notes to Required Supplementary Information

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Management’s Discussion and Analysis

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

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Contents Description

This article is from:

Annual Comprehensive Financial Report FY 2021-22