b'Capital Region Airport Commission NOTES TO REQUIRED SUPPLEMENTARY INFORMATION VRS PENSION PLAN Year Ended June 30, 2025 Changes of Benefit Terms There have been no actuarially material changes to the System benefit provisions since the prior actuarial valuation. Changes of Assumptions The actuarial assumptions used in the June 30, 2023 and June 30, 2022 valuation were based on the results of an actuarial experience study for the period from July 1, 2016 through June 30, 2020. Changes to the actuarial assumptions as a result of the experience study and VRS Board action are as follows: All Others (Non-10 Largest)Non-Hazardous Duty:Mortality Rates (pre-retirement, post- Update to Pub-2010 public sector mortality tables. Forretirement healthy, and disabled) future mortality improvements, replace load with amodified Mortality Improvement Scale MP-2020Retirement Rates Adjusted rates to better fit experience for Plan 1; setseparate rates based on experience for Plan 2/Hybrid;changed final retirement ageWithdrawal Rates Adjusted rates to better fit experience at each age andservice decrement through 9 years of serviceDisability Rates No changeSalary Scale No changeLine of Duty Disability No changeDiscount Rate No changeAll Others (Non-10 Largest)Hazardous Duty:Mortality Rates (pre-retirement, post- Update to Pub-2010 public sector mortality tables.retirement healthy, and disabled) Increased disability life expectancy. For future mortalityimprovements, replace load with a modified MortalityImprovement Scale MP-2020Retirement Rates Adjusted rates to better fit experience and changed finalretirement age from 65 to 70Withdrawal Rates Decreased rates and changed from rates based on ageand service to rates based on service only to better fitexperience and to be more consistent with Locals Largest10 Hazardous DutyDisability Rates No changeSalary Scale No changeLine of Duty Disability No changeDiscount Rate No change90'