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City of Elk River <br />Schedule of Changes in Total OPEB Liability <br />and Related Ratios - Municipal Retirees Health Plan <br />December 31, <br />December 31, <br />December 31, <br />December 31, <br />2018 <br />2019 <br />2020 <br />2021 <br />Total OPEB Liability <br />Service cost <br />$ 58,939 <br />$ 44,470 <br />$ 53,284 <br />$ 62,443 <br />Interest <br />30,051 <br />31,024 <br />32,766 <br />27,703 <br />Differences between expected and actual experience <br />- <br />(87,455) <br />- <br />(101,343) <br />Changes of assumptions <br />- <br />(27,862) <br />48,516 <br />13,730 <br />Benefit payments <br />(47,958) <br />(42,048) <br />(51,790 <br />(49,504) <br />Net change in total OPEB liability <br />41,032 <br />(81,871) <br />82,776 <br />(46,971) <br />Beginning of year <br />875,478 <br />916,510 <br />834,639 <br />917,415 <br />End of year <br />$ 916,510 <br />$ 834,639 <br />$ 917,415 <br />$ 870,444 <br />Covered payroll <br />$ 8,658,239 <br />$ 9,076,855 <br />$ 9,349,161 <br />$ 10,007,339 <br />Net OPEB liability as a percentage of covered payroll <br />10.59% <br />9.20% <br />9.81% <br />8.70% <br />Note: Schedule is intended to show ten year trend. Additional years will be reported as they become available. <br />See notes to required supplementary information. 104 <br />