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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 />Year Ended December 31, 2018 <br />2018 <br />Total OPEB liability <br />Service cost $ 40,892 <br />Interest 22,858 <br />Changes of assumptions 19,347 <br />Benefit payments (3,349) <br />Net change in total OPEB liability 79,748 <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 />565,491 <br />$ 645,239 <br />$ 5,400,000 <br />11.95% <br />Note 1: Changes in Actuarial Assumptions. (1) 2018 Changes - The <br />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. <br />This information is not available for previous fiscal years. <br />Additional years' information will be displayed as it becomes <br />available. <br />100 <br />