CITY OF LAGUNA NIGUEL SCHEDULE OF THE CHANGES IN TOTAL OPEB LIABILITY AND RELATED RATIOS LAST TEN FISCAL YEARS* Measurement Period June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 June 30, 2022 Total OPEB Liability: Service Cost $ 164,308 $ 159,580 $ 177,199 $ 238,974 $ 249,137 Interest 52,069 60,500 64,566 59,282 63,322 Changes of Assumptions (62,212) 90,002 423,242 22,375 (605,217) Differences Between Expected and Actual Experience - - 172,569 - (599,226) Benefit Payments, Including Refunds of Employee Contributions (36,705) (44,487) (48,040) (75,178) (88,151) Net Change in Total OPEB Liability 117,460 265,595 789,536 245,453 (980,135) Total OPEB Liability - Beginning 1,308,503 1,425,963 1,691,558 2,481,094 2,726,547 Total OPEB Liability - Ending $ 1,425,963 $ 1,691,558 $ 2,481,094 $ 2,726,547 $ 1,746,412 Plan Fiduciary Net Position as a Percentage of the Total OPEB Liabilit y 0.00% 0.00% 0.00% 0.00% 0.00% Covered Employee Payroll $ 5,927,346 $ 6,140,757 $ 6,392,532 $ 6,476,418 $ 7,098,959 Plan Net OPEB Liability as a Percentage of Covered Employee Payroll 24.06% 27.55% 38.81% 42.10% 24.60% Measurement Period June 30, 2023 June 30, 2024 y: Total OPEB Liabilit Service Cost $ 139,830 $ 140,189 Interest 65,606 71,671 Chan ges of Assumptions (29,346) (77,706) Differences Between Expected and Actual Experience - - Benefit Payments, Including Refunds of Employee Contributions (65,955) (66,326) Net Change in Total OPEB Liability 110,135 67,828 Total OPEB Liability - Beginning 1,746,412 1,856,547 Total OPEB Liability - Ending (a) $ 1,856,547 $ 1,924,375 Plan Fiduciary Net Position as a Percentage of the Total OPEB Liabilit y 0.00% 0.00% Covered Employee Payroll $ 7,430,446 $ 7,845,576 Plan Net OPEB Liability as a Percentage of Covered Employee Payroll 24.99% 24.53% * Historical information is presented only for measurement periods for which GASB 75 is applicable. Additional years of information will be displayed as it becomes available. Notes to Schedules: Change in Benefit Terms: There were no changes in the benefit terms. Changes of Assumptions: In 2022, the discount rate changed from 3.54% to 3.65%. In 2024, discount rate was updated based on municipal bond rate as of the measurement date. The City has not established a trust for the purpose of holding assets accumulated for plan benefits. (79)