ANNUAL AUDIT REPORT - Laserfiche WebLink

Browse Search

U 1411703 , 11 111`9-973911 9111IM"i Notes to the Financial Statements June 30, 2020 The expected real rates of return by asset class are as follows: The following table shows the changes in total OPEB liability recognized over the measurement period. Balance at 06/30/2019 (VD) Changes recognized for the measurement period: Service cost Interest on Total OPEB Liability Changes of assumptions Differences between expected and actual experience Contributions - employer Net investment income Benefit payments, including refunds of employee contributions Administrative expense Net changes Balance at: 06/30/2019 (MD) Valuation Date (VD), Measurement Date (MD). Assumption changes Increase (decrease Total OPEB Plan Fiduciary Net OPEB Liability Net Position Liability/(Asset) (a) (b) = (a) - (b) $ 51801,736 $ $ 5,801,736 211,498 - Long-term 2293949 Current target expected real Asset class allocation return Equity 48.25% 5.65% Fixed income 45.00% 1.39% REITS 1.75% 5.06% Liquidity 5.00% 0.00% Total 100.00% 21398 The following table shows the changes in total OPEB liability recognized over the measurement period. Balance at 06/30/2019 (VD) Changes recognized for the measurement period: Service cost Interest on Total OPEB Liability Changes of assumptions Differences between expected and actual experience Contributions - employer Net investment income Benefit payments, including refunds of employee contributions Administrative expense Net changes Balance at: 06/30/2019 (MD) Valuation Date (VD), Measurement Date (MD). Assumption changes Increase (decrease Total OPEB Plan Fiduciary Net OPEB Liability Net Position Liability/(Asset) (a) (b) = (a) - (b) $ 51801,736 $ $ 5,801,736 211,498 - 211,498 2293949 - 2291949 (11524,648) - (11524,648) (31608) - (31608) - 416391992 (4,639,992) 1911632 (191,632) (144,180) (144,180) - (2,398) 21398 (11230,989) 47685,046 (51916,035) $ 4,570,747 $ 47685,046 $ (114,299) The average per capita claims cost was updated to reflect actual 2019 and 2020 premiums, the health care cost trend rate was updated to reflect 2018 industry survey data, the mortality, withdrawal, disablement, and retirement tables was updated to reflect the 2017 CalPERS studies. The population for curving and morbidity factors have also been updated to the 2017 CalPERS study. The Discount Rate changed from 3.58% as of June 30, 2017 to 6.25% as of June 30, 2019. There have been no other assumption changes since the last measurement date. 0