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City of Redwood City
<br />Required Supplementary Information (Unaudited) (Continued)
<br />Schedule of Changes in Net OPEB Liability and Related Ratios (Continued)
<br />For the Year Ended June 30, 2025
<br />
<br />
<br />143
<br />2025 2024 2023 2022 2021 2020 2019 2018
<br />For the Measurement Period:2023-2024 2022-2023 2021-2022 2020-2021 2019-2020 2018-2019 2017-2018
<br />2016-20171
<br />Total OPEB Liability:
<br />Service Cost 5,190$ 5,350$ 8,846$ 6,761$ 5,356$ 12,928$ 12,746$ 14,623$
<br />Interest on the total OPEB liability 22,234 23,447 16,009 16,550 18,925 24,324 23,193 20,261
<br />Changes in benefit terms - - - - - - - -
<br />Difference between expected
<br />and actual experience - (56,667) - 97,275 - (127,605) - -
<br />Changes in assumptions (8,471) (13,692) (197,419) 68,972 72,042 37,647 (5,925) (68,366)
<br />Benefit payments (15,235) (20,439) (31,178) (31,427) (19,445) (9,711) (9,426) (8,400)
<br />Net changes in
<br />Total OPEB Liability 3,718 (62,001) (203,742) 158,131 76,878 (62,417) 20,588 (41,882)
<br />Be ginning of Year 583,632 645,633 849,375 691,244 614,366 676,783 656,195 698,077
<br />End of Year 587,350$ 583,632$ 645,633$ 849,375$ 691,244$ 614,366$ 676,783$ 656,195$
<br />Plan Fiduciary Net Position:
<br />Employer contribution 15,235$ 20,439$ 31,178$ 31,427$ 19,445$ 9,711$ 9,426$ 8,400$
<br />Employee contributions - - - - - - - -
<br />Net investment income - - - - - - - -
<br />Administrative expenses - - - - - - - -
<br />Benefit payments (15,235) (20,439) (31,178) (31,427) (19,445) (9,711) (9,426) (8,400)
<br />Net changes in
<br />Fiduciary Net Position - - - - - - - -
<br />Be ginning of Year - - - - - - - -
<br />End of Year -$ -$ -$ -$ -$ -$ -$ -$
<br />Net OPEB Liabilit y 587,350$ 583,632$ 645,633$ 849,375$ 691,244$ 614,366$ 676,783$ 656,195$
<br />Fiduciary Net Position
<br />as a percentage of
<br />Total OPEB Liability 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
<br />Covered Payroll 462,924$ 371,346$ 343,288$ 343,288$ 343,288$ 410,854$ 501,790$ 632,232$
<br />Net OPEB Liabilit y
<br /> as a % of Payroll 126.88% 157.17% 188.07% 247.42% 201.36% 149.53% 134.87% 103.79%
<br />1 Historical information is presented only from the implementation year.
<br />Port Plan
<br />7.C. - Page 175 of 269
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