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FIRE <br /> Tier 1 - Current Benefits <br /> Tier 2 - Hired>7/1/12, Benefits Capped at Single Premium & End at Age 652 <br /> Discount Rate 7.75% <br /> (000's Omitted) <br /> FYE Tier 1 Tier 2 Combined Savings <br /> June30, NC % NC$ NC % NC $ NC % NC$ NC $ <br /> 2012 4.6% $742 2.0% $ - 4.6% $742 $ - <br /> 2013 4.6% 728 2.0% 16 4.5% 745 22 <br /> 2014 4.6% 713 2.0% 33 4.4% 746 45 <br /> 2015 4.6% 696 2.0% 51 4.2% 748 69 <br /> 2016 4.6% 678 2.0% 71 4.1% 749 95 <br /> 2017 4.6% 658 2.0% 91 4.0% 749 122 <br /> 2018 4.6% 638 2.0% 111 3.9% 750 149 <br /> 2019 4.6% 614 2.0% 134 3.7% 748 180 <br /> 2020 4.6% 588 2.0% 158 3.6% 746 212 <br /> 2021 4.6% 561 2.0% 183 3.5% 744 241 <br /> 1,139 <br /> 2 Implied subsidy continues post 65. <br /> 1 October 14,2011 I I <br /> FIRE <br /> i 1 <br /> ■ Current plan: Assume no change to the future new hires. 'tier 1 and Tier 2 have the <br /> same benefits under current plan. <br /> • Alternative benefit structure: Tier 1 at current benefits and Tier 2 at alternative <br /> benefits <br /> Normal Cost Projection <br /> more u.ilr11 <br /> 52.000 <br /> $1,900 <br /> 51600 <br /> S1 400 <br /> SI 200 <br /> 51000 <br /> 5800 <br /> S600 <br /> top <br /> 5200 <br /> 2012 1015 101E 2021 2021 2027 2030 1' 2033 1036 1039 <br /> -0•Alrmnaree Benefit Strucwn Current Plan <br /> ►RJ/ <br /> 1 October 14.:WI 1 2 <br />