Audit for Fiscal Year Ending June 30, 2017

CITY OF SPENCER NOTES TO OTHER INFORMATION - PENSION LIABILITY - Continued MUNICIPAL FIRE AND POLICE RETIREMENT SYSTEM OF IOWA YEAR ENDED JUNE 30, 2017

Changes of Benefit Terms

There were no significant changes of benefit terms.

Changes of Assumptions

Postretirement mortality changed to the RP-2000 Blue Collar combined Healthy Mortality Table with males set-back two years, females set-forward one year, and disableds set-forward one year (male only rates), with no projection of future mortality improvement.

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