b'City of Dover Tuscarawas County, Ohio Notes to the Basic Financial Statements For the Year Ended December 31, 2019 $1,742,332 reported as deferred outflows of resources related to pension resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability or increase to the net pension asset in 2020.Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pension will be recognized in pension expense as follows: OPERS OPERSTraditional Combined Plan Plan OP&F TotalYear Ending December 31:2020 $1,291,474 $2,820 $733,350 $2,027,6442021 549,710 (397) 425,891 975,2042022 173,571 (58) 469,097 642,6102023 870,135 4,986 719,855 1,594,9762024 0 (1,640) 56,675 55,035Thereafter 0 (1,064) 0 (1,064)Total $2,884,890 $4,647 $2,404,868 $5,294,405Actuarial AssumptionsOPERSActuarial valuations of an ongoing plan involve estimates of the values of reported amounts and assumptions about the probability of occurrence of events far into the future.Examples include assumptions about future employment, mortality, and cost trends.Actuarially determined amounts are subject to continual review or modification as actual results are compared with past expectations and new estimates are made about the future.Projectionsofbenefitsforfinancialreportingpurposesarebasedonthesubstantiveplan(theplanas understood by the employers and plan members) and include the types of benefits provided at the time of each valuation.The total pension liability was determined by an actuarial valuation as of December 31, 2018,usingthefollowingactuarialassumptionsappliedtoallperiodsincludedinthemeasurementin accordance with the requirements of GASB 67.Key methods and assumptions used in the latest actuarial valuation, reflecting experience study results, prepared as of December 31, 2018, are presented as follows: OPERS Traditional Plan OPERS Combined PlanWage Inflation 3.25 percent 3.25 percentFuture Salary Increases,3.25 to 10.75 percent 3.25 to 8.25 percent including inflation including wage inflation including wage inflationCOLA or Ad Hoc COLA:Pre-January 7, 2013 Retirees 3 percent, simple 3 percent, simplePost-January 7, 2013 Retirees 3 percent, simple through 2018,3 percent, simple through 2018, then 2.15 percent, simple then 2.15 percent, simpleInvestment Rate of Return 7.2 percent 7.2 percentActuarial Cost Method Individual Entry Age Individual Entry Age In October of 2018, the OPERS Board adopted a change in the investment return assumption, reducing it from 7.5 percent to 7.2 percent.This change was effective beginning with the 2018 valuation.- 62 62 -'