The hypothetical wind-up incremental cost determined in this valuation, compared with the corresponding value determined in the previous valuation, is as follows:

	31.12.2019	31.12.2018
Number of years covered by report	1 year	1 year
Total hypothetical wind-up liabilities at the valuation date (A)	$37,466,000	$36,875,000
Present value at the valuation date of projected hypothetical wind-up liability at the next required valuation (including expected new entrants) plus expected benefit payments until the next required valuation (B)	$37,302,000	$36,931,000
Hypothetical wind-up incremental cost (B – A)	($164,000)	$56,000

The incremental cost is not an appropriate measure of the contributions that would be required to maintain the windup position of the Plan even if actual experience is exactly in accordance with the going concern valuation assumptions. For example, the expected return on plan assets (based on the going concern assumptions) is greater than the discount rate used to determine the hypothetical wind-up liabilities.

Discount Rate Sensitivity

The following table summarizes the effect on the hypothetical wind-up liabilities shown in this report of using a discount rate that is 1% lower than that used in the valuation:

Scenario	Valuation Basis	Reduce DiscountRate by 1%
Total hypothetical wind-up liability	$37,466,000	$42,437,000