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CITY OF PARIS, TEXAS Notes to Financial Statements (Continued) September 30, 2023 IV. Detailed Notes onAllActivities and Funds (Continued) G. Other Post Employment Benefit (OPEB) Obligations (Continued) 2. City of Paris Retiree Health Care Plan (Continued) Gham,es in the„OPEB Liabili„ .,� The following presents the total Plan OPEB liability of the City, calculated using the discount rate of 4.05%, as well as what the City's total Plan OPEB liability (asset) would be if it were calculated using a discount rate that is 1 -percentage -point lower (3.05%) or 1 -percentage -point higher (5.05%) than the current rate: 1% Decrease in Discount Rate 3.05% Total OPEB Liability $3,344,052 1% Increase in Discount Rate Discount Rate 4.05% 5.05% $3,173,612 $3,030,759 The following presents the Plan's total OPEB liability, calculated using the assumed trend rates as well as what the Plan's total OPEB liability would be if it were calculated using a trend rate that is one percent lower or one percent higher: Current Healthcare Cost Trend Rate I% Decrease Assumption 1% Increase Total OPEB Liability $2,956,216 $3,173,612 $3,410,868 63 Increase --(Decrease) Total OPEB — Liability! ..............._... Balance at 12/31/2021 $ 3,494,904 Changes for the year: Service Cost 107,089 Interest 64,353 Change of Benefit Terms _ Difference Between Expected and Actual Experience (5,342) Changes of Assumptions (385,395) Contributions — Employer _ Contributions — Employees _ Net Investment Income _ Benefit Payments, Including Refunds of Employee Contributions (102,025) Administrative Expense _ Other Changes 28 Net Changes g ......... (321.292., Balance at 12/31/2022 $ 3,173,612 The following presents the total Plan OPEB liability of the City, calculated using the discount rate of 4.05%, as well as what the City's total Plan OPEB liability (asset) would be if it were calculated using a discount rate that is 1 -percentage -point lower (3.05%) or 1 -percentage -point higher (5.05%) than the current rate: 1% Decrease in Discount Rate 3.05% Total OPEB Liability $3,344,052 1% Increase in Discount Rate Discount Rate 4.05% 5.05% $3,173,612 $3,030,759 The following presents the Plan's total OPEB liability, calculated using the assumed trend rates as well as what the Plan's total OPEB liability would be if it were calculated using a trend rate that is one percent lower or one percent higher: Current Healthcare Cost Trend Rate I% Decrease Assumption 1% Increase Total OPEB Liability $2,956,216 $3,173,612 $3,410,868 63