Scenarios in which assumptions regarding Legislative behavior are introduced. These assumptions include actual contributions below what are actuarially required
and improving benefits over time. These scenarios are meant to project past behavior into the future.
The trust fund runs out of assets and payments from the
general fund must be made to meet contractual obligations.
A measurement of the pension system under unfavorable conditions (below expected investment returns, for example). Pessimistic refers to the 25th percentile, where
there is a 75 percent chance of the measurement being better and 25 percent chance of the measurement being worse. Very pessimistic refers to the 5th percentile.
Pay-go payments, measured in today’s value, which might be considered “significant” in terms of the potential impact on the