Sarasota County, Florida Notes to Financial Statements September 30, 2024 Employees Covered by Benefit Terms Actuarial reports provide information about the number of employees by type of covered within the various plans. Table below shows that number of employees covered by the benefit terms of each of the plans as of the most recent valuation. Sarasota County OPEB plan investments The primary asset classes include: The County’s Board of County Commissioners is the Governing Body that can make changes in the fund choices or allocations. Receivables As of September 30, 2024, no amounts were due to the trust. Total OPEB liability The County’s total OPEB liability was measured as of September 30, 2024, and was determined by an actuarial valuation as of September 30, 2022, updated to September 30, 2024. The Sheriff’s total OPEB liability was measured as of September 30, 2024 and was determined by an actuarial valuation as of September 30, 2022. Sarasota County actuarial assumptions and other inputs The total OPEB liability in the actuarial valuation was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified: Sarasota County Sheriff Total Plans Active participants 2 ,588 965 3 ,553 Beneficiaries receiving benefits 169 205 374 Total 2 ,757 1 ,170 3 ,927 Inflation Rate 2.50% Salary Increase Rate(s) Varies by service Discount Rate 7.00% Initial Trend Rate 7.00% Ultimate Trend Rate 4.00% Years to Ultimate 52 Investment Rate of Return 7.00% 153
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