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Elk River Municipal Utilities <br /> Elk River, Minnesota <br /> Required Supplementary Information (Continued) <br /> For the Year Ended December 31, 2018 <br /> Schedule of Changes in the Employer's OPEB Liability and Related Ratios <br /> 2018 <br /> Total OPEB Liability <br /> Service cost $ 11,084 <br /> Interest 3,526 <br /> Changes in assumptions 4,509 <br /> Net Change in Total OPEB Liability 19,119 <br /> Total OPEB Liability- Beginning 81,453 <br /> Total OPEB Liability- Ending $ 100,572 <br /> Covered -employee payroll $ 3,584,096 <br /> Utilities'total OPEB liability as a percentage of <br /> covered employee payroll 2.80 % <br /> Changes in Assumptions: <br /> In 2018, the following assumptions changes: <br /> The discount rate was changed from 3.81%to 3.31%. <br /> Health care trend rates were reset to reflect updated cost increase expectations, <br /> including an adjustment to reflect the impact of the Affordable Care Act's Excise Tax on <br /> high-cost health insurance plans. <br /> Medical per capita claims costs were updated to reflect recent experience. <br /> Withdrawal rates were updated from the Small Plan age-based table in the 2003 SOA Turnover, <br /> adjusted by 50%to the rate used in the 7/1/2017 PERA General Employees Retirement <br /> Plan valuation. <br /> The salary scale assumption was changed from a flat rate of 3.25%to the rates used in the <br /> 7/1/2017 PERA General Employees Retirement Plan valuation. <br /> Note: Schedule is intended to show 10-year trend.Additional years will be reported as they become available. <br /> 52 <br /> 139 <br />