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CITY OF RAMSEY <br />Other Post -Employment Benefits Plan <br />Schedule of Changes in the City's Total <br />OPEB Liability and Related Ratios <br />Total OPEB liability <br />Service cost <br />Interest <br />Changes of assumptions <br />Benefit payments <br />Net change in total OPEB liability <br />Total OPEB liability — beginning of year <br />Total OPEB liability — end of year <br />Covered payroll <br />Total OPEB liability as a percentage of covered payroll <br />Note 1: <br />2019 <br />$ 74,389 <br />24,695 <br />(41,435) <br />(3,476) <br />54,173 <br />645,239 <br />2018 <br />$ 40,892 <br />22,858 <br />19,347 <br />(3,349) <br />79,748 <br />565,491 <br />$ 699,412 $ 645,239 <br />$ 5,600.000 $ 5,400,000 <br />12.49% <br />Changes in Actuarial Assumptions. (1) 2019 Changes - The <br />discount rate was changed from 3.44 percent to 4.09 percent. <br />(2) 2018 Changes - The discount rate was changed from 4.50 <br />percent to 3.44 percent. <br />Note 2: The City implemented GASB Statement No. 75 in fiscal 2018. <br />This information is not available for previous fiscal years. <br />Additional years' information will be displayed as it becomes <br />available. <br />11.95% <br />99 <br />