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NOTE 11—OTHER POST -EMPLOYMENT BENEFITS (OPEB) PLAN (CONTINUED) <br />G. Changes in the Total OPEB Liability <br />Total OPEB <br />Liability <br />Beginning Balance $ 699,412 <br />Changes for the year <br />Service cost 55,942 <br />Interest 30,837 <br />Differences between expected and actual experience (368,975) <br />Changes of assumptions 47,099 <br />Benefit payments (2,775) <br />Total net changes (237,872) <br />Ending l3alance <br />Assumption changes since the prior measurement date include the following: <br />• The discount rate was changed from 4.09 percent to 2.74 percent. <br />$ 461,540 <br />• The healthcare trend rates, mortality tables, and payroll growth rates were updated for changes in <br />recent studies and inflationary adjustments. <br />H. Total OPEB Liability Sensitivity to Discount and Health -Care Cost Trend Rate Changes <br />The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability <br />would be if it were calculated using a discount rate that is 1 percentage point lower or 1 percentage point <br />higher than the current discount rate: <br />1 % Decrease in Discount 1 % Increase in <br />Discount Rate Rate Discount Rate <br />OPEB discount rate 1.74% <br />2.74% 3.74% <br />Total OPEB liability $ 497,411 $ 461,540 $ 426,418 <br />90 <br />