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            "text": "CITY OF PALM DESERT, CALIFORNIA\nNotes to Basic Financial Statements\nFor the Year Ended June 30, 2025",
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            "text": "NOTE 13 - OTHER POSTEMPLOYMENT BENEFITS (OPEB) (CONTINUED)",
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            "text": "Actuarial assumptions. The total OPEB liability was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:"
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            "text": "Inflation 2.50%\nSalary Increase 3.00% per annum\nAssumed Wage Inflation 3.00% per annum\nInvestment Rate of Return 5.85% per annum\nHealthcare cost-trend rates Assumed to start at 6.0% and grade down by 0.5% each year to 3.9% in 2075.\nRetirement Age The City offers the same plans to its retirees as to its active employees, with the general exception that upon reaching age 65 and becoming eligible for Medicare, the retiree must join one of the Medicare Supplement coverages offered under PEMHCA.\nMortality Mortality rates used were those published by CalPERS under the 2021 Experience study and projected using the MacLeod Watts Scale 2022 applied generationally."
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            "text": "D. Discount Rate",
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            "text": "GASB 75 requires a discount rate that reflects the following:"
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                    "text": "The long-term expected rate of return on OPEB plan investments – to the extent that the OPEB plan's fiduciary net position (if any) is projected to be sufficient to make projected benefit payments and assets are expected to be invested using a strategy to achieve that return;",
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                    "text": "A yield or index rate for 20-year, tax-exempt general obligation municipal bonds with an average rating of AA/Aa or higher – to the extent that the conditions in (a) are not met.",
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            "text": "98",
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