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CITY OF SAN LEANDRO <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />For The Year Ended June 30, 2019 <br />NOTE 13 – PENSION PLAN (Continued) <br />The $7,668,583 and $7,027,678 for Miscellaneous and Safety, respectively, will be reported as deferred <br />outflows of resources related to contributions subsequent to the measurement date and will be recognized <br />as a reduction of the net pension liability in the year ended June 30, 2020. Other amounts reported as <br />deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as <br />pension expense as follows: <br />Miscellaneous Safety <br />Plan Plan Total <br />Year Ended Annual Annual Annual <br />June 30 Amortization Amortization Amortization <br />2020 2,931,614$ 8,095,251$ 11,026,865$ <br />2021 292,533 3,308,951 3,601,484 <br />2022 (2,088,216) (2,565,405) (4,653,621) <br />2023 (577,403) (593,873) (1,171,276) <br />558,528$ 8,244,924$ 8,803,452$ <br />NOTE 14 – OTHER POST EMPLOYMENT BENEFITS <br />OPEB Liabilities, OPEB Expenses and Deferred Outflows/Inflows of Resources Related to OPEB - For <br />purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of <br />resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s <br />OPEB Plan and additions to/deductions from the OPEB Plan’s fiduciary net position have been <br />determined on the same basis as they are reported by PARS. For this purpose, benefit payments are <br />recognized when currently due and payable in accordance with the benefit terms. Investments are <br />reported at fair value. <br />A. Plan Description <br />The City administers a single-employer defined-benefit post-employment healthcare plan. Dependents are <br />eligible to enroll, and benefits continue to surviving spouses. The plan was established by City Council in <br />fiscal year 2009-10 and provides reimbursements to retirees for qualified expenses. Retirees who have <br />between five and fifteen years of service and meet certain criterion based upon retirement date, household <br />income in the most recent calendar year, and age are entitled to reimbursements for qualified expenses. <br />Benefits Provided - Eligibility for retiree health benefits requires retirement from the City. Retirees may <br />receive up to $360 monthly medical and $115.74 monthly dental reimbursement prior to age 65. Some <br />retirees may receive $200 monthly medical reimbursement from age 65 to age 70. With the exception of <br />certain retirees who are eligible for the $200 payment as discussed, after age 65, the retirees receive the <br />PEMHCA minimum amount only. <br />Amendments to benefit provisions are negotiated by various bargaining units at the City and must be <br />approved by Council. In fiscal year 2008-09, the City established an irrevocable exclusive agent multi- <br />employer benefit trust which is administered by Public Agency Retirement Services (PARS). The trust <br />will be used to accumulate and invest assets necessary to reimburse retirees. No separate financial reports <br />are issued by PARS for the OPEB plan. <br />82229