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30 <br /> Slide #5 <br /> Basic Retirement Funding Formula <br /> 0 + 0 = 0 + 0 <br /> C —_ Contributions <br /> I Investment Income <br /> Earned on ContributionsC+11 B+�E <br /> B = Benefits Paid <br /> E = Expenses (Admin Fees) <br /> -Money In Money Out' <br /> 2 <br /> 3 <br /> 4 Slide #6 <br /> Plan Provisions <br /> Permanent employees hired on or"re 6/30/2012 who retire from <br /> Orange County and meet one of the following conditions: <br /> A minimum of 10 years of service with Orange County <br /> ■ Age 65 with a minimum of years of service with Orange County <br /> Disabled rctircrncrit with a minimum of years of service with Orange <br /> County <br /> Permanent employees hired after 6/30/2012 who retire from Orange <br /> County and meet one of the following conditions: <br /> ■ A minimum of 20 years of service with Orange County <br /> ■ Age 65 with a min-IT-num of 10 years of service with Orange County <br /> Disabled retirement with a minimum of 10 years ofservice with Oram, <br /> County <br /> 5 ',(,Wt <br /> 6 Vice-Chair McKee said that the changes in 2012 slowed the rate of acceleration in the <br /> 7 liability. <br /> 8 <br /> 9 <br />