|
6.C. - Page 132 of 196
<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 />Changes of benefit terns
<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 />2019 2018 2017
<br />$ 2,579,477 $ 2,504,347 $ 2,431,405
<br />6,059,446 5,741,299 5,420,908
<br />(91,335) - -
<br />(6,285,887)
<br />1,388,517
<br />(3,975,125) (3,239,884) (3,117,523)
<br />(324,907) 5,005,762 4,734,790
<br />89,177,641 84,171,879 79,437,089
<br />$ 88,852,734 $ 89,177,641 $ 84,171,879
<br />$ 8,553,676 $ 6,830,404 $ 6,163,000
<br />2,293,756 2,158,132 2,270,291
<br />(3,975,125) (3,239,884) (3,117,523)
<br />(16,917) (50,216) (11,547)
<br />6,855,390 5,698,436 5,304,221
<br />32,532,605 26,834,169 21,529,949
<br />$ 39,387,995 $ 32,532,605 $ 26,834,170
<br />Net OPEB liability/(asset) - ending (a) - (b) $
<br />49,464,739
<br />$ 56,645,036
<br />$ 57,337,709
<br />Plan fiduciary net position as a percentage of the total OPEB liability
<br />44.3%
<br />36.5%
<br />31.9%
<br />Covered -employee payroll
<br />73,074,208
<br />73,121,435
<br />71,831,235
<br />Net OPEB liability as a percentage of covered -employee payroll
<br />67.7%
<br />77.5%
<br />79.8%
<br />Notes to Schedule:
<br />Changes in assumptions. Average per capita claims cost was updated to reflect actual 2017 premiums, the health care cost
<br />trend rate was updated to reflect 2018 industry survey data, and the mortality table was updated to reflect the most recent
<br />Ca1PERS studies.
<br />Historical information is required only for measurement periods for which GASB 75 is applicable. Future years' information
<br />will be displayed up to 10 years as information becomes available.
<br />100 219
<br />
|