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Total OPEB Liability
<br />Service Cost
<br />Interest
<br />Changes in Benefit Terms
<br />Differences Between Expected and Actual Experience
<br />Changes in Assumptions
<br />Benefit Payments, Including Refunds of Employee Contributions
<br />Other Changes
<br />Net Change in Total OPEB Liability
<br />Total OPEB Liability - Beginning
<br />Total OPEB Liability - Ending
<br />Covered Payroll
<br />City's Total OPEB Liability as a Percentage of Covered
<br />Payroll
<br />Notes to Schedule
<br />Valuation Date
<br />CITY OF PARIS, TEXAS
<br />Required Supplementary Information
<br />City of Paris Retiree Health Care Plan -
<br />Schedule of Changes in Total OPEB Liability and Related Ratios
<br />Year Ended September 30, 2023
<br />Schedule 6
<br />Plan Year Ended December 31,
<br />2022 2021 2020 2019 2018 2017
<br />$ 107,089 $
<br />46,370 $
<br />45,329 $
<br />34,501 S
<br />36,808 $
<br />36,410
<br />64,353
<br />34,083
<br />44,410
<br />60,652
<br />55,250
<br />61,432
<br />-
<br />1,923,344
<br />-
<br />-
<br />-
<br />(5,342)
<br />(250,340)
<br />(10,649)
<br />(174,952)
<br />(10,869)
<br />-
<br />(385,395)
<br />91,261
<br />68,964
<br />120,032
<br />(36,122)
<br />51,925
<br />(102,025)
<br />(61,564)
<br />(57,093)
<br />(74,044)
<br />(82,466)
<br />(103,929)
<br />28
<br />ITIT ITITITIT IT(321,292)--...
<br />1,783,154
<br />90,961
<br />(33,811)
<br />(37,399)
<br />45,838
<br />3,494,904
<br />1,711 750
<br />1 620 789 _____L654
<br />600
<br />1.691,999
<br />1.,646,161
<br />$ 3,173,612 $
<br />3,494,904 $
<br />1 711 750 $
<br />1 620 789 $
<br />1,654,600 $
<br />1,691,999
<br />$ 3,777,068 $
<br />3,826,545 $
<br />3,522,249 $
<br />3,799,135 $
<br />4,814,704 $
<br />5,284,495
<br />84.02%
<br />91.33%
<br />48.60%
<br />42.66%
<br />34.37%
<br />32.020%
<br />December 31, 2022
<br />Methods and Assumptions used to Determine Contribution Rates:
<br />Actuarial Cost Method
<br />Individual Entry -Age Normal
<br />Discount Rate
<br />4.05% as of December 31, 2022
<br />Inflation
<br />2.501%
<br />Salary Increases
<br />3.50% to 11.50% for TAM and 4.10% to 6.00% for Firefighters, including inflation
<br />Demographic Assumptions
<br />TMRS: Based on the experience study covering the four-year period ending December 31, 2018 as conducted for the Texas
<br />Municipal Retirement System (TMRS). Firefighters: Based on those disclosures in the Paris Firefighters' Relief and
<br />Retirement Fund pension valuation report as of December 31, 2020.
<br />Mortality
<br />TMRS: For healthy retirees, the gender distinct 2019 Municipal Retirees of Texas mortality tables are used. The rates are
<br />projected on a fully generational basis using the ultimate mortality improvement rates in the MP tables published through
<br />2019 to account for future mortality improvements. Firefighters: For healthy retirees, the Pub -2010 Public Safety Below
<br />Median Healthy Retirce mortality tables are used. The rates are projected on a fully generational basis using the ultimate
<br />mortality improvement rates in the MP -2018 tables to account for future mortality improvements.
<br />Health Care Trend Rates
<br />Initial rate of 7.00°/a declining to an ultimate rate of 4.15% after 13 years; the City's subsidy is assumed to increase by 3.00%
<br />per year.
<br />Participation Rates
<br />95% of eligible TMRS employees and Firefighters
<br />Other Information
<br />The discount rate changed from 1.840% as of December 31, 2021 to 4.05% as of December 31, 2022.
<br />Note: The pension schedules in the required supplementary information are intended to show information for ten years. Additional years' information will be displayed as it becomes available.
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