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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 />E. Annual OPEB Cost and Net OPEB Obligation (Continued) <br />The City first had an actuarial valuation performed for the plan as of January 1, 2008 to determine the <br />funded status of the plan as of that date as well as the employer's annual reguired contribution (ARC). <br />As of December 31, 2013, the City's annual OPEB cost (expense) is $210,809. The City's annual OPEB <br />cost, the percentage of annual OPEB cost contributed to the plan and the net OPEB obligation for 2013 <br />was as follows: <br />Fiscal <br />Year Ended <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />Annual <br />OPEB <br />Cost <br />$ 234,937 <br />232,654 <br />215,574 <br />213,503 <br />210,809 <br />F. Funded Status and Funding Progress <br />Employer <br />Contributions <br />$ 119>317 <br />125,980 <br />101,582 <br />68,009 <br />77,705 <br />Percentage <br />of Annual OPEB <br />Cost Contributed <br />50.8°Io <br />54.1°Io <br />47.1% <br />31.9% <br />36.9% <br />Net <br />OPEB <br />Obligation <br />$ 244,063 <br />350,737 <br />464,729 <br />610,223 <br />743,327 <br />The City has no assets that have been irrevocable deposited in a trust for future health bene�its; therefore, <br />the actuarial value of assets is zero. The funded status of the plan was as follows: <br />Unfunded UAAL as <br />Acniarial Actuarial Actuarial Annual a Percentage <br />Valuation Actuarial Accraed Accrued Funded Covered of Annual <br />Date Value of Assets Liability (AAL)* Liability (UAAL) Ratio Payroll Covered Payroll <br />7anuaxy 1, 2008 $ 0 $ 1,833,845 $ 1,833,845 <br />January 1, 2011 $ 0 $ 1,709,742 $ 1,709,742 <br />�Using the projected unit credit actuarial pay cost method. <br />74 <br />0% $ 9,528,355 19.2% <br />0% $10,169,482 16.8% <br />