Delaware County, Indiana
Total OPEB Liability
The County's total OPEB liability of $6,858,151 was measured as of December 31, 2025 and was determined by an actuarial valuation as of that date.
Actuarial Assumptions and Other Inputs
The total OPEB liability in the December 31, 2025 actuarial valuation was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified:
| Measurement Date | December 31, 2025 |
| Actuarial Valuation Date |
January 1, 2025; Liabilities as of December 31, 2025
are based on a valuation date of January 1, 2025
projected to December 31, 2025, on a rolled forward
basis with adjustments for actual premium, trend and
discount rate changes from 2025 to 2026
|
| Discount Rate | 4.28% as of December 31, 2025 |
| Payroll Growth | 2.65% plus merit raises |
| Inflation Rate | 2.00% per year |
| Health Care Trend Rates | 8.5% in 2026 trending down to 4.5% |
The discount rate was based on 20-year tax-exempt general obligation municipal bonds
Mortality rates were based on Healthy General retirees: SOA Pub-2010 General Headcount Weighted Mortality Table fully generational using Scale MP-2021 Healthy Police retirees: SOA Pub-2010 Public Safety Headcount Weighted Mortality Table fully generational using Scale MP-2021.
Changes in the Total OPEB Liability
|
Total OPEB Liability |
||
|---|---|---|
| Balances at December 31, 2024 | $ | 7,834,832 |
| Changes for the year: | ||
| Service cost | 336,862 | |
| Interest | 338,409 | |
| Changes of benefit terms | (47,966) | |
| Differences between expected and actual experience | (1,183,803) | |
| Changes in assumptions or other inputs | 115,317 | |
| Benefit payments | (535,500) | |
| Net changes | (976,681) | |
| Balances at December 31, 2025 | $ | 6,858,151 |
Changes of assumptions and other inputs reflect a change in the discount rate from 4.28% at the beginning of the year and 4.83% at the end of the year.