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CITY OF ELK RIVER, MINNESOTA
<br />SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND
<br />RELATED RATIOS - ELK RIVER FIRE RELIEF
<br />DECEMBER 31, 2018
<br />Total pension liability
<br />Service cost
<br />Interest
<br />Assumption changes
<br />Plan changes
<br />Difference between expected and actual experience
<br />Benefit payments
<br />Net change in pension liability
<br />Total pension liability - beginning
<br />Total pension liability - ending (a)
<br />Plan fiduciary net position
<br />Contributions - employer
<br />Contributions - state
<br />Net investment income
<br />Net gain (loss) on investments
<br />Benefite payments
<br />Administrative expense
<br />Net change in plan fiduciary net position
<br />Plan fiduciary net position - beginning
<br />Plan fiduciary net position - ending (b)
<br />Fire Reliefs net pension
<br />liability (asset) - (a -b)
<br />Plan fiduciary net position as a percentage
<br />of the total pension liability
<br />Covered payroll
<br />Fire reliefs net pension liability (asset) as a
<br />percentage of covered payroll
<br />2017 2016 2015 2014
<br />$ 101,600 $ 107,095 $ 99,459 $ 93,312
<br />146,894 142,222 127,413 126,522
<br />11,196 - 297,706 -
<br />- 55,532 - 62,318
<br />(147,992) - -
<br />- (147,015) (423,760) -
<br />259,690 9,842 100,818 282,152
<br />2,346,626 2,336,784 2,235,966 1,953,814
<br />$ 2,606,316 $ 2,346,626 $ 2,336,784 $ 2,235,966
<br />$ 30,000 $ 30,000 $ 30,000 $ 30,000
<br />182,297 179,192 177,826 164,825
<br />54,007 55,756 54,358 77,412
<br />403,324 173,668 (197,938) 46,697
<br />- (147,015) (423,760) -
<br />(13,009) (12,884) (13,663) (8,634)
<br />656,619 278,717 (373,177) 310,300
<br />3,096,419 2,817,702 3,190,879 2,880,579
<br />$ 3,753,038 $ 3,096,419 $ 2,817,702 $ 3,190,879
<br />$(1,146,722) $ (749,79-3 $ (480,918) $ (954,913)
<br />144.0% 132.0% 120.6% 142.7%
<br />N/A N/A N/A N/A
<br />N/A N/A N/A N/A
<br />Notes to Schedule:
<br />Changes of assumptions.
<br />The expected investment return and discount rate decreased from 6.00% to
<br />5.75% to reflect updated capital market assumptions.
<br />Ten years of data will eventually be presented when available.
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