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CITY OF ROSEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2013 <br />NOTE 6— OTHER POST-EMPLOYMENT BENEFITS (Continued) <br />C. Participants <br />As of the actuarial valuation dated January 1, 2011, participants consisted of: <br />Retirees and beneficiaries currently <br />purchasing health insurance through the City <br />Disabled police and firefighters <br />Active Employees <br />Total <br />D. Funding Policy <br />The additional cost of using a blended rate for actives and retirees is currently funded on a pay-as-you-go <br />basis. The City Council may change the funding policy at any time. <br />E. Annual OPEB Cost and Net OPEB Obligation <br />The City's annual other post-employment benefit (OPEB) cost is calculated based on the annual required <br />contribution (ARC) of the employer, an amount actuarially determined in accordance with the parameters <br />of GASB Statement No. 45. The ARC represents a level of funding that, if paid on an ongoing basis, is <br />projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding <br />excess) over a period not to exceed 30 years. The net OPEB obligation as of December 31, 2013, was <br />calculated as follows: <br />Annual required contribution <br />Interest on OPEB obligation <br />Adjustment to annual required contribution <br />Annual OPEB cost <br />Contributions made <br />Increase (decrease) in net OPEB obligation <br />Net OPEB obligation beginning of year <br />Net OPEB obligation end of year <br />$ 221,244 <br />27,460 <br />(37,895) <br />210,809 <br />(77,705) <br />133,104 <br />610,223 <br />$ 743,327 <br />For the governmental activities, other post-employment benefits are generally liquidated through the <br />general fund. <br />73 <br />