Exhibit 10: Page 1 of 3

WESTERN STATES OFFICE AND 

PROFESSIONAL EMPLOYEES PENSION FUND

SUSPENSION APPLICATION 

Exhibit 10
Western States Office and Professional Employees Pension Fund

Projection of Funded Percentage

Plan Year Beginning 1/1/2016 1/1/2017 1/1/2018 1/1/2019 1/1/2020

Plan Year Ending 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020

A. Value of Plan Assets 334,210,200 325,872,761 311,506,867 304,314,007 297,165,364

B. Accrued Liability 529,954,836 430,063,669 416,163,695 412,416,101 408,059,554

C. Funded Percentage (A / B) 63.06% 75.77% 74.85% 73.79% 72.82%

Plan Year Beginning 1/1/2021 1/1/2022 1/1/2023 1/1/2024 1/1/2025

Plan Year Ending 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025

A. Value of Plan Assets 290,062,672 282,994,242 276,176,619 269,666,201 263,309,264

B. Accrued Liability 403,087,316 397,477,518 391,439,121 385,026,909 378,076,482

C. Funded Percentage (A / B) 71.96% 71.20% 70.55% 70.04% 69.64%

Plan Year Beginning 1/1/2026 1/1/2027 1/1/2028 1/1/2029 1/1/2030

Plan Year Ending 12/31/2026 12/31/2027 12/31/2028 12/31/2029 12/31/2030

A. Value of Plan Assets 257,482,928 251,902,149 246,627,768 241,716,523 237,181,965

B. Accrued Liability 370,940,688 363,651,727 356,254,809 348,788,473 341,245,216

C. Funded Percentage (A / B) 69.41% 69.27% 69.23% 69.30% 69.50%

Plan Year Beginning 1/1/2031 1/1/2032 1/1/2033 1/1/2034 1/1/2035

Plan Year Ending 12/31/2031 12/31/2032 12/31/2033 12/31/2034 12/31/2035

A. Value of Plan Assets 233,144,604 229,757,174 226,927,730 224,221,692 221,216,669

B. Accrued Liability 333,766,745 326,474,395 319,319,250 312,369,118 305,854,981

C. Funded Percentage (A / B) 69.85% 70.38% 71.07% 71.78% 72.33%

The Projected Market Value of Assets and Funded Percentage for the 

Plan Years beginning January 1, 2016 through December 31, 2055

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 January 1, 2016 through December 31, 2055

Plan Year Beginning 1/1/2036 1/1/2037 1/1/2038 1/1/2039 1/1/2040

Plan Year Ending 12/31/2036 12/31/2037 12/31/2038 12/31/2039 12/31/2040

A. Value of Plan Assets 219,144,540 215,138,897 210,275,353 206,121,784 202,644,899

B. Accrued Liability 299,872,537 294,492,267 289,786,723 285,817,811 282,551,835

C. Funded Percentage (A / B) 73.08% 73.05% 72.56% 72.12% 71.72%

Plan Year Beginning 1/1/2041 1/1/2042 1/1/2043 1/1/2044 1/1/2045

Plan Year Ending 12/31/2041 12/31/2042 12/31/2043 12/31/2044 12/31/2045

A. Value of Plan Assets 199,567,978 196,942,573 194,765,477 193,098,350 191,963,355

B. Accrued Liability 279,712,164 277,350,824 275,465,033 274,116,812 273,328,569

C. Funded Percentage (A / B) 71.35% 71.01% 70.70% 70.44% 70.23%

Plan Year Beginning 1/1/2046 1/1/2047 1/1/2048 1/1/2049 1/1/2050

Plan Year Ending 12/31/2046 12/31/2047 12/31/2048 12/31/2049 12/31/2050

A. Value of Plan Assets 191,366,099 191,357,789 191,958,791 193,196,235 195,083,570

B. Accrued Liability 273,106,124 273,500,820 274,533,046 276,229,879 278,604,640

C. Funded Percentage (A / B) 70.07% 69.97% 69.92% 69.94% 70.02%

Plan Year Beginning 1/1/2051 1/1/2052 1/1/2053 1/1/2054 1/1/2055

Plan Year Ending 12/31/2051 12/31/2052 12/31/2053 12/31/2054 12/31/2055

A. Value of Plan Assets 197,652,925 200,926,664 204,947,941 209,740,663 215,340,550

B. Accrued Liability 281,689,246 285,505,741 290,096,823 295,485,804 301,707,656

C. Funded Percentage (A / B) 70.17% 70.38% 70.65% 70.98% 71.37%

Exhibit 10: Page 3 of 3