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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2018 <br />NOTE 14 — OTHER POSTEMPLOYMENT BENEFITS PLAN (OPEB) - Continued <br />C. Net OPEB Liability <br />The County's net OPEB liability was measured as of October 1, 2017 and the total OPEB liability used <br />to calculate the net OPEB liability was determined by an actuarial valuation as of that date. The <br />components of the net OPEB liability of the County at September 30, 2018, were as follows: <br />Total OPEB Liability <br />Plan fiduciary net position <br />County's net OPEB liability <br />$ 32,974,379 <br />(29,520,848) <br />$ 3,453,531 <br />Plan fiduciary net position as a percentage of the total <br />OPEB liability 89.53% <br />D. Actuarial Methods and Assumptions <br />The total OPEB liability was determined by an actuarial valuation as of October 1, 2017, using the <br />following actuarial assumptions, applied to all periods included in the measurement, unless otherwise <br />specified: <br />Methods and Assumptions Used to Determine Net OPEB Liability: <br />Actuarial Cost Method Entry age normal <br />Inflation 2.50% <br />Discount Rate 6.00% <br />Salary Increases 3.7% to 7.8%, including inflation, varies by plan type <br />and years of service. <br />Retirement Age Experience -based table of rates that are specific to the plan <br />and type of eligibility condition. <br />Mortality <br />Healthcare Cost Trend Rates <br />Mortality tables used in the July 1, 2016 actuarial <br />valuation of the Florida Retirement System. They are <br />based on the results of a statewide experience study <br />covering the period 2008 through 2013. <br />Based on the Getzen Model, with trend starting at 7.0% <br />and gradually decreasing to an ultimate trend rate of <br />4.39% (including the impact of the excise tax). <br />98 <br />