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CCP 06202022
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CCP 06202022
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8/11/2022 12:08:27 PM
Creation date
8/11/2022 12:08:06 PM
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Roseville City Council
Document Type
Council Agenda/Packets
Meeting Date
6/20/2022
Meeting Type
Regular
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CITY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br />D.Total OPEB Liability and Changes in Total OPEB Liability <br />1,668,186 was measured as of January 1, 2021and was <br />determined by an actuarialvaluation dated January 1, 2021. Changes in the total OPEB liability <br />during 2021were: <br />Balances at January 1, 2021$1,701,938 <br />Changes for the year <br />Service cost 135,470 <br />Interest 52,102 <br />Plan changes- <br />Differences between expected and actual experience(149,745) <br />Changes in assumptions 10,616 <br />Benefit payments (82,195) <br />Net changes (33,752) <br />Balance at December 31, 2021$1,668,186 <br />There were no plan changes since the measurement date of January 1, 2021. <br />E.Actuarial Assumptions and Other Inputs <br />The total liability in the actuarial valuation was determined using the following actuarial assumptions <br />and other inputs, applied to all periods included in the measurement, unless otherwise specified: <br />Inflation 2.00% <br />Salary increasesService Graded Table <br />Discount rate2.00% <br />20-year muncipal bond yield2.00% <br />Medical cost trend rates 6.5% in 2021 grading to 5% over 6 years <br />and then 4% over the next 48 years <br />76 <br /> <br />
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