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INTRODUCTION <br />Section 112.664, F.S. Requirements <br />When reviewing the following schedules, please note the following: <br />1) The purpose of producing this report is solely to satisfy the requirements set forth by Section <br />112.664, Florida Statutes, and is mandatory for every Florida public pension fund, excluding the <br />Florida Retirement System (FRS). <br />2) None of the schedules shown have any impact on the funding requirements of the Plan. These <br />schedules are for statutory compliance purposes only. <br />3) In the schedules that follow, the columns labeled "ACTUAL" represent the final recorded GASB <br />67/68 results. The columns labeled "HYPOTHETICAL" illustrate what the results would have <br />been if different assumptions were used. <br />4) It is our opinion that the Plan's actual assumptions utilized in the October 1, 2018 Actuarial <br />Valuation Report, as adopted by the Board of Trustees, are reasonable individually and in the <br />aggregate, and represent our best estimate of future Plan experience. <br />5) The "Number of Years Expected Benefit Payments Sustained" calculated in Section II: Asset <br />Sustainability should not be interpreted as the number of years the Plan has left until it is <br />insolvent. This calculation is required by 112.664, Florida Statutes, but the numeric result is <br />irrelevant, since in its calculation we are to assume there will be no further contributions to the <br />Fund. As long as the Actuarially Determined Contribution is made each year the Plan will never <br />become insolvent. <br />City of Casselberry Police Officers' and Firefighters' Pension Plan FOSTER & FOSTER 13 <br />