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NOTE 12—OTHER POST-EMPLOYMENT BENEFITS (OPEB)PLAN (CONTINUED) <br /> F. Actuarial Methods and Assumptions <br /> The total OPEB liability was determined by an actuarial valuation as of January 1, 2020, using the entry <br /> age normal level percent of pay method. The following actuarial assumptions applied to all periods <br /> included in the measurement,unless otherwise specified: <br /> Discount rate 2.12% <br /> 20-year municipal bond yield 2.12% <br /> Inflation rate 2.00% <br /> Salary increases 3.25% <br /> Healthcare cost trend rate 7.33%grading to 5.00%over 10 years <br /> Since the plan is not funded by an irrevocable trust,the discount rate is equal to the 20-year municipal bond <br /> yield. <br /> Mortality rates were based on the RP-2014 mortality tables used in the PERA plan of which the employee, <br /> retiree, or beneficiary is a participant. <br /> G. Changes in the Total OPEB Liability <br /> Total OPEB <br /> Liability <br /> Beginning Balance $ 461,540 <br /> Changes for the year <br /> Service cost 69,584 <br /> Interest 14,428 <br /> Differences between expected and actual experience 6,307 <br /> Changes of assumptions 20,586 <br /> Benefit p ayments (9,111) <br /> T of al net changes 101,794 <br /> Ending Balance $ 563,334 <br /> Assumption changes since the prior measurement date include the following: <br /> • The discount rate was changed from 2.74 percent to 2.12 percent. <br /> • The healthcare trend rates were updated for changes in recent studies and inflationary adjustments. <br /> 90 <br />