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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 />Differences between expected and actual experience <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 -employee payroll <br />Total OPEB liability as a percentage of covered -employee payroll <br />Fiscal Year <br />$ 401892 <br />$ 741389 <br />$ 559942 <br />$ 69,584 <br />$ 81,145 <br />221858 <br />249695 <br />301837 <br />14,428 <br />131589 <br />— <br />— <br />(368,975) <br />6,307 <br />5101595 <br />19,347 <br />(41,435) <br />47,099 <br />20,586 <br />(365,412) <br />(3,349) <br />(3,476) <br />(2,775) <br />(9,111) <br />(61965) <br />79,748 <br />54,173 <br />(237,872) <br />101,794 <br />2321952 <br />565,491 <br />645,239 <br />6991412 <br />4611540 <br />5631334 <br />$ 6451239 <br />$ 6991412 <br />$ 4611540 <br />$ 5631334 <br />$ 7961286 <br />$ 514001000 <br />$ 516001000 <br />$ 6,4001000 <br />$ 6170000 <br />$ 6001000 <br />Note 1: Changes in Actuarial Assumptions. (1) 2022 Changes - The discount rate was changed from 2.12 percent to 2.06 percent. The healthcare trend <br />rates and plan experience assumptions were updated for changes in recent studies and inflationary adjustments. (2) 2021 Changes - The discount <br />rate was changed from 2.74 percent to 2.12 percent. The healthcare trend rates were updated for changes in recent studies and inflationary <br />adjustments. (3) 2020 Changes - The discount rate was changed from 4.09 percent to 2.74 percent. The healthcare trend rates, mortality tables, <br />and payroll growth rates were updated for changes in recent studies and inflationary adjustments. (4) 2019 Changes - The discount rate was <br />changed from 3.44 percent to 4.09 percent. (5) 2018 Changes - The discount rate was changed from 4.50 percent to 3.44 percent. <br />Note 2: The City implemented GASB Statement No. 75 in fiscal 2018. This information is not available for previous fiscal years. Additional years' <br />information will be displayed as it becomes available. <br />Note 3: No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75 to pay related benefits. There are no factors <br />that affect trends in the amounts reported, such as changes in benefit terms or assumptions. <br />101 <br />