K. Post-Employment Benefits Other than Pensions (OPEB) (Continued)

City Council · 2026-04-21 · agenda_item

This item concerns the City of West Melbourne's Post-Employment Benefits Other than Pensions (OPEB) liability. The city is reviewing its OPEB liability, which was $477,211 as of September 30, 2025. The review includes analyzing how changes in discount rates and healthcare trend rates could affect this liability. This is an early stage of review, focused on financial planning and analysis. No construction or development work is described in this agenda item. Therefore, there are no direct contracting opportunities for trades, suppliers, or service providers at this time. Businesses involved in financial consulting or actuarial services may find this information relevant for understanding the city's financial landscape.

Total OPEB liability balance

481950

Service cost

44422

Expected interest growth

20227

Benefit payments and refunds

10104

Assumption changes

59284

Net changes

4739

Total OPEB liability balance

477211

1% Decrease Discount Rate

536375

Current Discount Rate

477211

1% Increase Discount Rate

425762

1% Decrease Trend Rate

405334

Current Trend Rate

477211

1% Increase Trend Rate

564369