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72
<br />2016 2015 2014
<br />Total pension liability
<br />Service cost 107,095$ 99,459$ 93,312$
<br />Interest 142,222 127,413 126,522
<br />Assumption changes - 297,706 -
<br />Plan changes 55,532 - 62,318
<br />Difference between expected and actual experience (147,992) - -
<br />Benefit payments (147,015) (423,760) -
<br />Net change in pension liability 9,842 100,818 282,152
<br />Total pension liability - beginning 2,336,784 2,235,966 1,953,814
<br />Total pension liability - ending (a)2,346,626$ 2,336,784$ 2,235,966$
<br />Plan fiduciary net position
<br />Contributions - employer 30,000$ 30,000$ 30,000$
<br />Contributions - state 179,192 177,826 164,825
<br />Net investment income 55,756 54,358 77,412
<br />Net gain (loss) on investments 173,668 (197,938) 46,697
<br />Benefite payments (147,015) (423,760) -
<br />Administrative expense (12,884) (13,663) (8,634)
<br />Net change in plan fiduciary net position 278,717 (373,177) 310,300
<br />Plan fiduciary net position - beginning 2,817,702 3,190,879 2,880,579
<br />Plan fiduciary net position - ending (b)3,096,419$ 2,817,702$ 3,190,879$
<br />Fire Relief's net pension
<br />liability (asset) - (a-b)(749,793)$ (480,918)$ (954,913)$
<br />Plan fiduciary net position as a percentage
<br />of the total pension liability
<br />Covered payroll N/A N/A N/A
<br />Fire relief's net pension liability (asset) as a
<br />percentage of covered payroll N/A N/A N/A
<br />Notes to Schedule
<br />Ten years of data will eventually be presented when available.
<br />CITY OF ELK RIVER, MINNESOTA
<br />SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY
<br />ELK RIVER FIRE RELIEF
<br />DECEMBER 31, 2017
<br />Changes of assumptions. No changes in 2016.
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