Dubuque County Schedule of Changes in the County's Total OPEB Liability, Related Ratios and Notes For Six Fiscal Years
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
| Service Cost | $ 257,890 | $ 242,268 | $ 220,497 | $ 144,984 | $ 140,196 | $ 143,379 |
| Interest | 112,964 | 53,938 | 58,989 | 69,058 | 75,109 | 73,520 |
| Changes in Assumptions | (6,202) | (295,163) | 72,778 | 806 | 52,050 | 10,664 |
| Differences Between Expected and Actual Experiences | (654,638) | 409,929 | 5,743 | 79,179 | (136,760) | (217,066) |
| Benefit Payments | (129,880) | (125,866) | (142,811) | (96,086) | (120,983) | (119,445) |
| Net Change in Total OPEB Liability | (419,866) | 285,106 | 215,196 | 197,941 | 9,612 | (108,948) |
| Total OPEB Liability Beginning of year | 2,568,366 | 2,283,260 | 2,068,064 | 1,870,123 | 1,860,511 | 1,969,459 |
| Total OPEB Liability End of Year | $ 2,148,500 | $ 2,568,366 | $ 2,283,260 | $ 2,068,064 | $ 1,870,123 | $ 1,860,511 |
| Covered-Employee Payroll | $ 21,913,254 | $ 20,613,984 | $ 19,711,846 | $ 19,260,214 | $ 18,733,868 | $ 18,144,182 |
| Total OPEB Liability as a Percentage of Covered-Employee Payroll | 9.8% | 12.5% | 11.6% | 10.7% | 10.0% | 10.3% |
Notes to Schedule of Changes in the County's Total OPEB Liability and Related Ratios
No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement 75.
Changes in benefit terms:
There were no significant changes in benefit terms.
Changes in assumptions:
The 2022 valuation implemented the following refinements as a result of a new actuarial opinion date June 30, 2023:
Changed mortality assumptions to the SOA Public Plan 2010 tables.
Changes in assumptions and other inputs reflect the effects of changes in the discount rate each period. The following are the discount rates used in each period.
| Year Ended June 30, 2023 | 4.13% |
|---|---|
| Year Ended June 30, 2022 | 4.09% |
| Year Ended June 30, 2021 | 2.19% |
| Year Ended June 30, 2020 | 2.66% |
| Year Ended June 30, 2019 | 3.51% |
| Year Ended June 30, 2018 | 3.87% |
| Year Ended June 30, 2017 | 3.58% |
GASB Statement No.75 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the County will present information for those years for which information is available.
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