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CITY OF ELK RIVER <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />DECEMBER 31, 2019 <br />H. Pension Plan Fiduciary Net Position <br />The Association issues a publicly available financial report. The report may be obtained <br />by writing to the Elk River Fire Department Relief Association, 13073 Orono Parkway, <br />Elk River, Minnesota 55330. <br />Information about the changes in the plan's net pension liability (asset) is as follows: <br />2019 <br />Total Pension Liability <br />Service Cost <br />$ 107,610 <br />Interest <br />146,432 <br />Assumption Changes <br />39,541 <br />Plan Changes <br />645,281 <br />Differences Between Expected and Actual <br />Experience <br />(14,808) <br />Gain or Loss <br />Benefit Payments <br />(334,581) <br />Other Changes <br />- <br />Net Change in Total Pension Liability <br />589,475 <br />Total Pension Liability - Beginning 2,606,316 <br />Total Pension Liability - Ending (a) $ 3,195,791 <br />Fiduciary Net Position <br />Municipal Contributions <br />$ 30,000 <br />State Contributions <br />189,502 <br />Net Investment Income <br />62,812 <br />Net Gain or Loss on Investments <br />(287,692) <br />Benefit Payments <br />(334,581) <br />Administrative Expenses <br />(11,861) <br />Other Changes <br />Net Change in Fiduciary Net Position <br />(351,820) <br />Fiduciary Net Position - Beginning 3,753,038 <br />Fiduciary Net Position - Ending (b) $ 3,401,218 <br />Association's Net Position Liability/ <br />(Asset) - Ending (a) - (b) $ (205,427) <br />(72) <br />