ANNUAL AUDIT REPORT - Laserfiche WebLink

Browse Search

Notes to the Financial Statements June 30, 2020 The District also pays the Medicare Part B premium for the retiree. Surviving spouses will be credited with the CalPERS minimum employer contribution. Executives General Managers and Administrators who retire from the District with five or more years of service (but fewer than ten), and their surviving spouses, who enroll in one of the CalPERS medical plans are credited with the CalPERS minimum employer contribution. General Managers and Administrators who were hired prior to July 1, 2009 retire from the District with ten or more years of service are eligible to receive a lifetime postemployment benefit for themselves and their dependents equal to the CalPERS medical plan premium for the plan the retiree is enrolled in for the 12 months prior to retirement, including the CaIPERS minimum employer contribution. The District also pays the Medicare Part B premium for the reti ree. Eligibility At June 30, 2020, the following employees were covered by the benefit terms for the Plan: Plan Inactive employees or beneficiaries currently receiving benefits 37 Inactive employees entitled to but not yet receiving benefits Active employees 92 Total Annual OPEB cost and net OPEB obligation For the fiscal year ended June 30, 2020, the total contribution made was $147,488. Thirty- seven retired employees received OPEB benefits during the fiscal year. Total OPEB liability The District's OPEB liability was measured as of June 30, 2019, and the total OPEB liability used to calculate the OPEB liability was determined by an actuarial valuation as of June 30, 2019. 57