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115 <br /> If hired on or before June 30, 2012: <br /> Years of Service at Retirement Age at Retirement County Contribution <br /> 10 or more Any Age 100% <br /> 5-9 65 50% <br /> If hired after June 30,2012: <br /> Years of Service at Retirement Age at Retirement County Contribution <br /> 20 or more Any Age 100% <br /> 10-19 65 50% <br /> Per resolution, the County is required to contribute the projected pay-as-you go financing <br /> requirements, with an additional amount to prefund benefits as determined annually by the Board. Benefit <br /> payments by the County were $5,182,720 for the fiscal year ended June 30, 2025. <br /> The Annual OPEB Cost ("AOC") is equal to the Annual Required Contribution ("ARC"), one <br /> year's interest on the Net OPEB Obligation, and an adjustment to the ARC to offset the effect of actuarial <br /> amortization of past under or over contributions. <br /> The County funds its OPEB healthcare benefits on a pay as you go basis as part of the annual budget <br /> process. The County paid $5,182,720 in OPEB benefits in fiscal year 2025, and [Update][has budgeted <br /> approximately$3,389,464 for benefit payments in fiscal year 2026]. <br /> In addition to these annual payments, [Update][the County has reserved approximately $8.2 <br /> million of committed fund balance toward its OPEB obligations. The County has also established an <br /> irrevocable trust for OPEB benefits that contains approximately$397,710]. <br /> The following table presents additional information on the County's OPEB liabilities. [Update <br /> table] <br /> Measurement Net OPEB NOL as % of <br /> Date Liability(NOL) Covered Payroll <br /> June 30,2025 $121,051,720 ._]% <br /> June 30,2024 $118,859,926 228.0 <br /> June 30,2023 $120,541,187 231.2 <br /> June 30,2022 $132,374,775 238.2 <br /> GASB 74 requires the presentation of the Net OPEB Liability ("NOL") effective as of June 30, <br /> 2017. The GASB 74 required NOL actuary methodology and assumptions results in a higher liability than <br /> the unfunded actuarial accrued liability("UAAL"). <br /> CONTINGENT LIABILITIES <br /> The County is not aware of any contingent liabilities that it expects would materially adversely affect its <br /> ability to meet its financial obligations. <br /> 42 <br />