Exhibit 10: Page 1 of 3

WESTERN STATES OFFICE AND 

PROFESSIONAL EMPLOYEES PENSION FUND

THIRD SUSPENSION APPLICATION

Exhibit 10
Western States Office and Professional Employees Pension Fund

Projection of Funded Percentage

Plan Year Beginning 4/1/2018 1/1/2019 1/1/2020 1/1/2021 1/1/2022

Plan Year Ending 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022

A. Value of Plan Assets 330,182,699 322,925,500 316,158,135 309,522,367 302,763,090

B. Accrued Liability 522,428,825 407,290,401 402,064,956 396,380,166 390,074,276

C. Funded Percentage (A / B) 63.20% 79.29% 78.63% 78.09% 77.62%

Plan Year Beginning 1/1/2023 1/1/2024 1/1/2025 1/1/2026 1/1/2027

Plan Year Ending 12/31/2023 12/31/2024 12/31/2025 12/31/2026 12/31/2027

A. Value of Plan Assets 295,785,242 288,735,587 281,536,742 274,401,611 267,348,790

B. Accrued Liability 383,092,878 407,290,401 402,064,956 396,380,166 390,074,276

C. Funded Percentage (A / B) 77.21% 70.89% 70.02% 69.23% 68.54%

Plan Year Beginning 1/1/2028 1/1/2029 1/1/2030 1/1/2031 1/1/2032

Plan Year Ending 12/31/2028 12/31/2029 12/31/2030 12/31/2031 12/31/2032

A. Value of Plan Assets 260,289,573 254,659,691 249,264,336 244,143,102 239,324,426

B. Accrued Liability 340,981,399 331,562,173 321,955,938 312,182,659 302,269,629

C. Funded Percentage (A / B) 76.34% 76.81% 77.42% 78.21% 79.18%

Plan Year Beginning 1/1/2033 1/1/2034 1/1/2035 1/1/2036 1/1/2037

Plan Year Ending 12/31/2033 12/31/2034 12/31/2035 12/31/2036 12/31/2037

A. Value of Plan Assets 234,792,143 229,897,454 224,898,802 219,732,683 214,811,712

B. Accrued Liability 292,219,844 282,116,564 272,092,480 262,128,839 252,289,727

C. Funded Percentage (A / B) 80.35% 81.49% 82.66% 83.83% 85.14%

The Projected Market Value of Assets and Funded Percentage for the 

Plan Years beginning April 1, 2018 through December 31, 2057

Exhibit 10: Page 2 of 3
Western States Office and Professional Employees Pension Fund

Projection of Funded Percentage

The Projected Market Value of Assets and Funded Percentage for the 

Plan Years beginning April 1, 2018 through December 31, 2057

Plan Year Beginning 1/1/2038 1/1/2039 1/1/2040 1/1/2041 1/1/2042

Plan Year Ending 12/31/2038 12/31/2039 12/31/2040 12/31/2041 12/31/2042

A. Value of Plan Assets 209,644,670 202,627,855 195,713,710 189,195,208 183,092,395

B. Accrued Liability 242,714,960 233,456,121 224,570,992 216,130,780 208,153,557

C. Funded Percentage (A / B) 86.37% 86.79% 87.15% 87.54% 87.96%

Plan Year Beginning 1/1/2043 1/1/2044 1/1/2045 1/1/2046 1/1/2047

Plan Year Ending 12/31/2043 12/31/2044 12/31/2045 12/31/2046 12/31/2047

A. Value of Plan Assets 177,398,342 172,157,716 167,418,381 163,190,846 159,535,390

B. Accrued Liability 200,630,340 193,603,621 187,118,844 181,183,867 175,856,037

C. Funded Percentage (A / B) 88.42% 88.92% 89.47% 90.07% 90.72%

Plan Year Beginning 1/1/2048 1/1/2049 1/1/2050 1/1/2051 1/1/2052

Plan Year Ending 12/31/2048 12/31/2049 12/31/2050 12/31/2051 12/31/2052

A. Value of Plan Assets 156,477,028 153,616,807 151,354,189 149,693,825 148,661,967

B. Accrued Liability 171,157,085 167,073,269 163,634,772 160,845,384 158,744,758

C. Funded Percentage (A / B) 91.42% 91.95% 92.50% 93.07% 93.65%

Plan Year Beginning 1/1/2053 1/1/2054 1/1/2055 1/1/2056 1/1/2057

Plan Year Ending 12/31/2053 12/31/2054 12/31/2055 12/31/2056 12/31/2057

A. Value of Plan Assets 148,274,659 148,525,566 149,442,791 151,031,893 153,319,085

B. Accrued Liability 157,334,431 156,621,262 156,618,900 157,346,095 158,814,350

C. Funded Percentage (A / B) 94.24% 94.83% 95.42% 95.99% 96.54%

Exhibit 10: Page 3 of 3