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6.A. - Page 105 of 191 CITY OF REDWOOD CITY NOTES TO THE BASIC FINANCIAL STATEMENTS For the Fiscal Year Ended June 30, 2019 NOTE 9 — EMPLOYEE BENEFITS (CONTINUED) B. Post Employment Benefits, Continued Sensitivity of the Net OPEB Liability to Changes in the Health Care Cost Trend Rates The following presents the net OPEB liability of the City if it were calculated using health care cost trend rates that are one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2018: Current 1% Decrease Trend Rate 1% Increase Net OPEB Liability $ 45,081,264 $ 56,645,036 $ 70,994,116 Recognition of Deferred Outflows and Deferred Inflows of Resources Gains and losses related to changes in total OPEB liability and fiduciary net position are recognized in OPEB expense systematically over time. Amounts are first recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense. The recognition period differs depending on the source of the gain or loss: Net difference between projected and actual earnings on OPEB plan investments All other amounts 5 Years Expected average remaining service lifetime (EARSL) OPEB Expense and Deferred Outflows/(Inflows) of Resources Related to OPEB For the fiscal year ended June 30, 2019, the City recognized OPEB expense of $1,600,764. For the fiscal year ended June 30, 2019, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: OPEB contributions subsequent to measurement date Changes of Assumptions Net differences between projected and actual earnings on plan investments Total full Deferred Outflows of Resources $ 8,553,676 $ 8,553,676 Deferred Inflows of Resources (664,936) $ (664,936) 112