Laserfiche WebLink
Plan and Employer Accounting <br /> Reconciliation of Changes in Total OPEB Liability <br /> Below is a reconciliation of the Total OPEB Liability for the fiscal year ending December 31,2018. <br /> These exhlbrts should be used as the basis for financlal reporting under GASB 75 for the�scal year <br /> ending December 31,2018. As described 1n the GASB 75 stondard,a one-year lookbock may be <br /> used when preparfng f1'nancial dlsclosures under GASB 75. <br /> . . . _ � . 1 <br /> 1. Measurement Year January 1,2017 <br /> to January 1,2018 <br /> 2. Used for Reporting Date December 31,2018 <br /> 3. Total OPEB Liability(TOL)—Beginning of Measurement Year $ 88,055 <br /> a. Service Cost 26,748 <br /> b. Interest Cost 3,779 <br /> c. Assumption Changes 0 <br /> d. Plan Changes 0 <br /> e. Differences between Expected and Actual Experience 0 <br /> f. Benefit Payments (599) <br /> g. Other Changes 0 <br /> h. Net Change in Total OPEB Liability 29,928 <br /> 4. Total OPEB Liability(TOL)--End of Measurement Year $ 117,983 <br /> 5. Covered Employee Payrotl 680,619 <br /> 6. TOL as%of Payroll 17% <br /> Assumptions as of the Measurement Date <br /> � _ . , - _ , <br /> 1. Discount Rate 3.30% <br /> 2. Medical Trend Rate 6.50%decreasing to I <br /> 5.00%over 6 years I <br /> 3. Dental Trend Rate NA i <br /> Total OPEB Liability Sensitivity to Changes in Assumptions <br /> � - � . . . _ �- ��=Y�'_ . - .:�,�-` �=�,;� :;�.` - � � <br /> 1. Selected Discount Rate $ 117,983 <br /> a. 1%Decrease in Discount Rate 131,170 <br /> b. 1%Increase in Discount Rate 105,980 � <br /> 2. Selected Healthcare Cost Trend Rates $ 117,983 ' <br /> a. 1%Decrease in Trend Rates 99,445 <br /> b. 1%Increase in Trend Rates 140,499 <br /> City of Pequot Lakes <br /> Page 6 <br /> I <br />