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6.A. - Page 128 of 191
<br />NOTE 3 — POST -EMPLOYMENT BENEFITS
<br />A. Schedule of Changes in the Net OPEB liability and Related Ratios
<br />City of Redwood City
<br />Measurement Period
<br />Total OPEB Liability
<br />Service Cost
<br />Interest on the total OPEB liability
<br />Differences between expected and actual experience
<br />Changes of assumptions
<br />Benefit payments, including refunds of employee contributions
<br />Net change in total OPEB liability
<br />Total OPEB liability - beginning
<br />Total OPEB liability - ending (a)
<br />Plan Fiduciary Net Position
<br />Contributions - employer
<br />Net investment income
<br />Benefit payments, including refunds of employee contributions
<br />Administrative expense
<br />Net change in plan fiduciary net position
<br />Plan fiduciary net position - beginning
<br />Plan fiduciary net position - ending (b)
<br />Notes to Schedule:
<br />pill F: ON
<br />$ 2,504,347 $ 2,431,405
<br />5,741,299 5,420,908
<br />(3,239,884) (3,117,523)
<br />5,005,762 4,734,790
<br />84,171,879 79,437,089
<br />$ 89,177,641 $ 84,171,879
<br />$ 6,830,404 $ 6,163,000
<br />2,158,132
<br />2,270,291
<br />(3,239,884)
<br />(3,117,523)
<br />(50,216)
<br />(11,547)
<br />5,698,436
<br />5,304,221
<br />26,834,169
<br />21,529,949
<br />$ 32,532,605 $ 26,834,170
<br />Net OPEB liability/(asset) - ending (a) - (b) $ 56,645,036 $ 57,337,709
<br />Plan fiduciary net position as a percentage of the total OPEB liability 36.5% 31.9%
<br />Covered -employee payroll 73,121,435 71,831,235
<br />Net OPEB liability as a percentage of covered -employee payroll 77.5% 79.8%
<br />Changes in assumptions. Average per capita claims cost was updated to reflect actual 2017 premiums, the health care cost trend rate
<br />was updated to reflect 2018 industry survey data, and the mortality table was updated to reflect the most recent CaIPERS studies.
<br />Historical information is required only for measurement periods for which GASB 75 is applicable. Future years' information will be
<br />displayed up to 10 years as information becomes available.
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