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CITY OF ELK RIVER SCHEDULE OF CHANGES IN TOTAL OPEB LIABILITY AND RELATED RATIOS — UTILITIES RETIREES HEALTH PLAN DECEMBER 31, 2019 Total OPEB Liability: Service Cost Interest Changes in Assumptions Differences Between Expected and Actual Experience Net Change in Total OPEB Liability Total OPEB Liability - Beginning Total OPEB Liability - Ending Total OPEB Liability Plan Fiduciary Net Position as a Percentage of the Total OPEB Liability Covered Employee Payroll City's Total OPEB Liability as a Percentage of the Covered Employee Payroll 2019 $ 12,750 3,751 104,531 (3,832) 117,200 100,572 $ 217,772 2018 $ 11,084 3,526 4,509 19,119 81,453 $ 100,572 $ 217,772 $ 100,572 0.00% 0.00% $ 3,547,495 $ 3,584,096 6.14% 2.81 % Note: The Utilities implemented GASB Statement No. 75 in fiscal year 2018. The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2018 and is intended to show a ten-year trend. Additional years will be reported as they become available. Valuation Date: Measurement Date: January 1, 2019 December 31, 2019 Methods and Assumptions Used to Determine the Contibution Rates: Actuarial Cost Method Entry Age Amortization Method Level Percentage of Payroll, Closed Amortization Period Average of expected remaining service on a closed basis for differences between expected and actual experience and assumption changes. I nflation: 2.50% 6.40% as of January 1, 2019, gradually decreasing Healthcare cost trend rate over several decades to an ulitmate rate of 4.00% in 2076 and later years. Mortality, withdrawal and salary scale updated to the rates used in the July 1, 2018 PERA of Minnesota Salary increases and Mortality Retirement Plan actuarial valuation to reflect recently -published tables. Discount rate 3.71% • No assets were placed in a trust for the payment of OPEB. (84)