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NOTE 13 — 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 December 31, 2021, 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 4.05% <br />20-year municipal bond yield 4.05% <br />Inflation rate 2.50% <br />Salary increases 3.00% <br />Healthcare cost trend rate 6.20% grading to 3.90% over several decades <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 />G. Changes in the Total OPEB Liability <br />Total OPEB <br />Liability <br />Beginning Balance $ 796,286 <br />Changes for the year <br />Service cost 119,416 <br />Interest 18,686 <br />Differences between expected and actual experience 1,371 <br />Changes of assumptions (123,730) <br />Benefit payments (17,207) <br />Total net changes (1,464) <br />Ending Balance <br />$ 794,822 <br />Assumption changes since the prior measurement date include the following: <br />• The discount rate was changed from 2.06 percent to 4.0.5 percent. <br />92 <br />