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CITY OF ELK RIVER, MINNESOTA <br />SCHEDULE OF CHANGES IN THE TOTAL OPEB <br />LIABILITY AND RELATED RATIOS <br />UTILITIES RETIREES HEALTH PLAN <br />DECEMBER 31, 2018 <br />2018 <br />Total OPEB Liability: <br />Service cost $ 11,084 <br />Interest 3,526 <br />Assumption changes 4,509 <br />Net change in total OPEB liability 19,119 <br />Total OPEB liability - beginning 81,453 <br />Total OPEB liability - ending (a) $ 100,572 <br />Covered payroll $ 3,584,096 <br />Total OPEB liability as a percentage of covered payroll 2.81% <br />Notes to Schedule: <br />The Utilities implemented GASB 75 in fiscal year 2018. The schedule is provided prospectively beginning with <br />the Utilities's fiscal year ended December 31, 2018. Additional years will be added as they become available. <br />No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. <br />Changes in Benefit Terms: <br />There were no significant changes in benefit terms. <br />Changes in Assumptions: <br />The discount rate was changed from 3.81% to 3.31%. <br />80 <br />