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Single <br /> ➢ Single Equivalent Interest Rate (SEIR) solvency test for 2023 fiscal year <br /> end equals the 20-year Municipal Bond Index Rate. <br /> ■ The irrevocable trust is expected to be depleted in its initial year. <br /> ■ Contributions to the irrevocable trust were $250,000 in 2017 and $0 <br /> for 2018-2023. <br /> ■ Irrevocable trust will grow nominally without contributions <br /> relative to the liability. <br /> ➢ Around 38 employers have assets and only around 15 employers in <br /> North Carolina have SEIR = Long Term Rate of Return (LTRoR) based <br /> on our valuation work with around 375 employers. <br />