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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, 2020. <br /> These exhibits should be used as the basis for financial reporting under GASB 75 for the fiscal year <br /> ending December 31,2020. As described in the GASB 75 standard, a one-year lookback may be <br /> used when preparing financial disclosures under GASB 75. <br /> , � - • . • � 1 <br /> 1. Measurement Year January 1,2019 <br /> to January 1, 2020 <br /> 2. Used for Reporting Date December 31, 2020 i <br /> 3. Total OPEB Liability(TOL) --Beginning of Measurement Year $ 142,605 <br /> a. Service Cost 9,511 <br /> b. Interest Cost 5.780 <br /> c. Assumption Changes �5��1�) � <br /> d. Plan Changes � <br /> e. Differences between Expected and Actual Experience (72,354) <br /> f. Benefit Payments � <br /> g. OtherChanges � <br /> h. Net Change in Total OPEB Liability (62,780) <br /> 4. Total OPEB Liability(TOL) --End of Measurement Year _ ______ $ 79,825 , <br /> — - -- ---- <br /> 5. Covered Employee Payroll 775,960 i <br /> 6. TOL as%of Payroll _ ___ __ ___10% <br /> . � . � . � � <br /> 1. Discount Rate 2.90% <br /> 2. Medical Trend Rate 6.50%decreasing to <br /> 5.00%over 6 years � <br /> 3. Dental Trend Rate _ NA� <br /> Total OPEB Liability Sensitivity to Changes in Assumptions <br /> �. � � � <br /> 1. Selected Discount Rate $ �9,825 <br /> a. 1% Decrease in Discount Rate 87,653 <br /> b. 1% Increase in Discount Rate 72,518 <br /> ------_--- - --—--- <br /> 2. Selected Healthcare Cost Trend Rates $ 79,825 <br /> a. 1°/o Decrease in Trend Rates 67,982 <br /> b. 1% Increase in Trend Rates 93,999 <br /> City of Pequot Lakes <br /> Page 6 <br />