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CITY OF ROSEVILLE, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2021 Salary Increase Rates Public Public Safety Other Safety Other Years of Salary Salary Years of Salary Salary ServiceIncreaseIncreaseServiceIncreaseIncrease 112.25%10.25%143.95%3.70% 210.50%7.25%153.85%3.65% 38.75%6.00%163.75%3.60% 47.75%5.50%173.75%3.50% 56.25%5.00%183.75%3.40% 65.75%4.70%193.75%3.40% 75.25%4.50%203.75%3.40% 85.00%4.40%213.65%3.30% 94.74%4.30%223.55%3.30% 104.50%4.20%233.45%3.30% 114.25%4.00%24 or 253.35%3.20% 124.15%3.90%263.25%3.10% 134.05%3.80%27 or More3.25%3.00% Since the plan is funded on a pay-as-you-go basis, both the discount rate and the investment rate of return was based on published rate information for 20-year, tax exempt, and municipalbonds as of the measurement date. The mortality tables were updated from the RP-2014 Mortality Tables (Blue Collar for Public Safety, White Collar for Others) with MP-2018 Generational Improvement Scale to the Pub-2010 Public Retirement Plans Headcount-Weighted Mortality Tables (General, Safety) with MP-2020 Generational Improvement Scale. The salary increase rates were changed in 2021 from a flat 3.00% per year for all employees to rates which vary by service and contract group. The actuarial assumptions used in the January 1, 2021valuation are similar to those used to value pension liabilities for Minnesota public employees. The state pension plans base their assumptions on periodic experience studies. Changes in assumptions and other inputs since the prior measurements date reflect change in the discount rate from 2.90% to 2.00%,20-year municipal bond yield from 2.90% to 2.00%and health care trend rates, the mortality table, and the retirement and withdrawal tables were updated. 77