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City of Elk River <br />Notes to Required Supplementary Information <br />120 <br />Police and Fire Fund (Continued) <br />2015 Changes <br />Changes in Actuarial Assumptions <br />•The assumed post-retirement benefit increase rate was changed from 1.0% per year through <br />2030 and 2.5% per year thereafter to 1.0% per year through 2037 and 2.5% per year <br />thereafter. <br />Changes in Plan Provisions <br />•The post-retirement benefit increase to be paid after attainment of the 90% funding threshold <br />was changed, from inflation up to 2.5%, to a fixed rate of 2.5%. <br />Page 310 of 637