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$aRTEL J 1550CIATES, LLC May 23, 2006 David Culver Director of Finance City of Pleasanton P. O. Box 520 Pleasanton, CA 94566-0802 RG GASB ~S- Of/ierPant Employment Bene,/its (OPEB) AduarialSYudy Dear Mr. Culver: Bartel Associates. is happy to provide the City of Pleasanton actuarial consulting services. This letter summarizes our project scope and fee estimates associated with the City's retiree healthcare obligations. Background The City participates in CaIPERS retirement program, providing Miscellaneous employees the 2.7% @ 55 benefit and Safety employees the 3% @ 50 benefit. Additionally, the City has a stand alone medical program, providing medical insurance options through HealthNet and Kaiser. The City allows retirees to continue participating in the medical insurance program after retirement paying a portion of the premium (varying by bargaining group), for all employees who retire directly from the City. The following table summarizes the City's retiree healthcare es• i vu a uv. Benefit Department Heada, Mid-Managers and Confidential Em to see' ll other Em to see ^ Service Retirement: Percentage of monthly Kaiser Percentage of monthly Kaiser • Percentages applied S-1 2-party rate, where S-1 2-party. rate, where to Kaiser S-1 2-party percentage is based on percentage is based on: rate, but subsidy for greater of ^ 4% for each year of retiree-only capped at ^ 4% for each year of service 100% of single rate service and ~ • Must retire from ^ following percentage active service (based on service): 10 75% 20 90% IS 80 25 100 ~ For Department Heads and Mid-Managers, service includes service with another CaIPERS municipal agency. For everyone else, service includes only service with the Ciry.