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NOTE 11— OTHER POST -EMPLOYMENT BENEFITS (OPEB) PLAN (CONTINUED) <br />H. Total OPEB Liability Sensitivity to Discount and Healthcare Cost Trend Rate Changes <br />The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability <br />would be if it were calculated using a discount rate that is 1 percentage point lower or 1 percentage point <br />higher than the current discount rate: <br />1% Decrease in Current 1% Increase in <br />Discount Rate Discount Rate Discount Rate <br />OPEB discount rate 3.00% 4.00% 5.00% <br />Total OPEB liability $ 993,483 $ 928,489 $ 868,535 <br />The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability <br />would be if it were calculated using healthcare cost trend rates that are 1 percentage point lower or <br />1 percentage point higher than the current healthcare cost trend rates: <br />1 % Decrease in Current 1 % Increase in <br />Healthcare Cost Healthcare Cost Healthcare Cost <br />Trend Rate Trend Rate Trend Rate <br />OPEB healthcare cost trend rate 5.25% grading to 4.00% over 6.25% grading to 5.00% over 7.25% grading to 6.00% over <br />5 years, then to 3.00% 5 years, then to 4.00% 5 years, then to 5.00% <br />over the next 48 years over the next 48 years over the next 48 years <br />Total OPEB liability $ 843,286 $ 928,489 $ 1,028,013 <br />I. OPEB Expense and Related Deferred Outflows of Resources and Deferred Inflows of Resources <br />For the current year ended, the City recognized OPEB expense of $79,994. As of year-end, the City reported <br />deferred outflows of resources and deferred inflows of resources related to OPEB from the following <br />sources: <br />Differences between expected and actual economic experience <br />Changes in actuarial assumptions <br />Contributions paid subsequent to the measurement date <br />Total <br />Deferred <br />Deferred <br />Outflows <br />Inflows <br />of Resources <br />of Resources <br />$ 287,534 <br />$ - <br />- <br />120,147 <br />97,148 <br />— <br />$ 384,682 $ 120,147 <br />A total of $97,148 reported as deferred outflows of resources related to OPEB resulting from city <br />contributions subsequent to the measurement date will be recognized as a reduction of the total OPEB <br />liability in the year ending December 31, 2024. Other amounts reported as deferred outflows and inflows <br />of resources related to the plan will be recognized in pension expense as follows: <br />Pension <br />Year Ending Expense <br />December 31, Amount <br />2024 <br />$ <br />20,923 <br />2025 <br />$ <br />20,923 <br />2026 <br />$ <br />20,923 <br />2027 <br />$ <br />20,923 <br />2028 <br />$ <br />20,923 <br />Thereafter <br />$ <br />62,772 <br />-61- <br />