PBA_AnnualReport_2019

Schedule of Changes in the Authority’s OPEB Liability and Related Ratios December 31, 2019 2018 Total OPEB liability - beginning $ 20,638 $ 20,419 Effect of foreign currency exchange rate changes 228 (298) Changes for the year: Service cost 106 100 Interest 1,234 1,190 Differences between expected and actual experience (1,657) 9 Changes of assumptions (2,378) - Benefit payments (764) (782) Net change in total OPEB liability (3,459) 517 Total OPEB liability - ending $ 17,407 $ 20,638 Plan fiduciary net position - beginning $ - $ - Changes for the year: Employer contributions 10,765 - Net investment income 178 - Benefit payments (764) - Administrative expense - - Net change in plan fiduciary net position 10,179 - Plan fiduciary net position - ending $ 10,179 $ - Net OPEB liability - ending $ 7,228 $ 20,638 Plan fiduciary net position as a percentage of the total OPEB liability 58.5% 0% Covered-employee payroll $ 1,800 $ 2,149 Net OPEB liability as a percentage of covered-employee payroll 401.6% 960.4% The following is a summary of changes of assumptions: Healthcare cost trend rate (U.S.) 6.25% to 5.0% 6.75% to 5.0% Healthcare cost trend rate (Canadian) 5.75% to 4.5% 6.25% to 4.5% Salary increases 2.75% 2.75% Investment rate of return 6.00% 6.00% Discount rate 6.00% 6.00% * Data prior to 2018 is unavailable. REQUIRED SUPPLEMENTARY INFORMATION continued 38