staff report memo

WS - C - City of Tiffin 2024 - Auditor's Report - Final

Dated January 7, 2025City Council — work session, January 7, 2025 51 pages

Page 39 of 51

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City of Tiffin Notes to Other Information – Pension Liability Changes of Benefit Terms There are no significant changes in benefit terms. Changes of Assumptions The 2022 valuation incorporated the following refinements after a quadrennial experience study: Changed mortality assumptions to the PubG-2010 mortality tables with mortality improvements modeled using Scale MP-2021. Adjusted retirement rates for regular members. Lowered disability rates for regular members. Adjusted termination rates for all membership groups. 35

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sharepoint (WS - C - City of Tiffin 2024 - Auditor's Report - Final.pdf) — where it was found ↗ first seen Oct 12, 2026

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