D. Estimated Deferred Outflow of Resources due to Benefits Paid After the Measurement Date

June 12, 2026 General Employees' Pension & Retirement · 2026-06-12 · agenda_item

The City of Mount Dora is reviewing its Other Post-Employment Benefits (OPEB) for fiscal year ending September 30, 2025. This review involves actuarial assumptions and methods related to retiree healthcare and life insurance benefits. The process includes analyzing discount rates, mortality tables, disability and termination rates, salary increases, and retirement rates. It also covers health coverage acceptance and lapse rates, as well as healthcare cost trend rates. This actuarial valuation is a planned step to understand the city's future financial obligations for its employees' benefits. The work involves detailed financial analysis and reporting, which may lead to future adjustments in benefit funding or administration. Businesses specializing in actuarial services, financial consulting, and benefits administration could find opportunities to support the city in this ongoing review and planning process. Engaging early allows for understanding the city's needs before final plans and budgets are set.

Fiscal Year End

2025

Measurement Year End

2024

Discount Rate

3.81 %

Number of Inactive Plan Members or Beneficiaries Currently Receiving Benefits

54

Number of Inactive Plan Members Entitled to But Not Yet Receiving Benefits

206

Number of Active Plan Members

260

Total Plan Members

260

Total OPEB Liability (1% Decrease)

11,179,829 $

Total OPEB Liability (Current Discount Rate)

9,900,111 $

Total OPEB Liability (1% Increase)

8,844,656 $

Total OPEB Liability (1% Decrease - Healthcare Cost Trend)

8,824,575 $

Total OPEB Liability (Current Healthcare Cost Trend)

9,900,111 $

Total OPEB Liability (1% Increase - Healthcare Cost Trend)

11,200,195 $

Monthly Premiums (Retiree) as of October 1, 2024

917.77 $

Monthly Premiums (Retiree + Spouse) as of October 1, 2024

2,366.69 $

Monthly Premiums (Retiree) as of October 1, 2025

925.69 $

Monthly Premiums (Retiree + Spouse) as of October 1, 2025

2,387.10 $

General Price Inflation Assumption

2.50 %

Salary Increase Assumption (General/Defined Contribution)

6.0 %

Salary Increase Assumption (Firefighters)

5.5 %

Actuarial Valuation Date

September 30, 2024

Discount Rate Assumption

3.81 %

Healthcare Cost Trend Rate (2025)

6.50 %

Healthcare Cost Trend Rate (2026)

6.25 %

Healthcare Cost Trend Rate (2027)

6.00 %

Long-term Healthcare Cost Trend Rate

4.00 %

Invoice Amount Due

14,518 $