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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2020 <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, 2019 and the total OPEB <br />liability used to calculate the net OPEB liability was determined by an actuarial valuation as <br />of that date. The components of the net OPEB liability of the County at September 30, <br />2020, were as follows: <br />Total OPEB Liability $ 34,039,143 <br />Plan fiduciary net position (32,654,503) <br />County's net OPEB liability S 1,384,640 <br />Plan fiduciary net position as a percentage of the total <br />OPEB liability 95.93% <br />D. Actuarial Methods and Assumptions <br />The total OPEB liability was determined by an actuarial valuation as of October 1, 2019, <br />using the following actuarial assumptions, applied to all periods included in the <br />measurement, unless otherwise 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 <br />the plan and type of eligibility condition. <br />Mortality <br />Mortality tables used in the July 1, 2018 actuarial <br />valuation of the Florida Retirement System. They <br />are based on the results of a statewide experience <br />study covering the period 2008 through 2013. <br />99 <br />