Schedule of Employer Contributions Illinois Municipal Retirement Fund

VILLAGE OF BUFFALO GROVE, ILLINOIS

Illinois Municipal Retirement Fund

Required Supplementary Information Schedule of Employer Contributions December 31, 2021

Fiscal Year Actuarially Determined Contribution Contributions in Relation to the Actuarially Determined Contribution Contribution Excess/ (Deficiency) Covered Payroll Contributions as a Percentage of Covered Payroll

2014 $ 1,020,544 $ 1,071,994 $ 51,450 $ 7,802,324 13.74% 2015 1,093,142 1,093,142 - 8,157,772 13.40% 2016 1,112,901 1,112,901 - 8,023,803 13.87% 2017 1,164,635 1,164,635 - 8,384,700 13.89% 2018 1,225,584 1,225,584 - 8,810,810 13.91% 2019 1,045,988 1,053,229 7,241 9,272,947 11.36% 2020 1,218,373 1,218,373 - 8,938,907 13.63% 2021 1,129,789 1,129,789 - 8,520,279 13.26%

Notes to the Required Supplementary Information:

Actuarial Cost Method

Entry Age Normal Amortization Method Level % Pay (Closed) Remaining Amortization Period 23 Years Asset Valuation Method 5-Year Smoothed Market Inflation 2.50% Salary Increases 3.35% - 14.25% Investment Rate of Return 7.25% Retirement Age See the Notes to the Financial Statements Mortality An IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015).

Note: This schedule is intended to show information for ten years. Information for additional years will be displayed as it becomes available.