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Elk River Municipal Utilities <br />Elk River, Minnesota <br />Notes to the Financial Statements <br />December 31, 2021 <br /> <br />Note 3: Defined Benefit Pension Plans - Statewide (Continued) <br /> <br />D.Pension Costs <br /> <br />General Employees Fund Pension Costs <br />At December 31, 2021, the Utilities reported a liability of $2,348,746 for its proportionate share of the General Employees <br />Fundliability. The Utilities <br />contribution of $16 million. The State of Minnesota is considered a non-employer contributing entity and the s <br />contribution meets the definition of a special funding situation. <br />pension liability associated with the Utilities totaled $71,625. The net pension liability was measured as of June 30, 2021, <br />and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that <br />date. The Utilities proportionate share of the net pension liability was based on the Utilities contributions received by <br />PERA during the measurement period for employer payroll paid dates from July 1, 2020 through June 30, 2021 relative to <br />the total employer contributions received from all of P The Utilities proportionate share <br />was 0.0550 percent which was an increase of 0.0010 percent from its proportion measured as of June 30, 2020. <br /> <br />For the year ended December 31, 2021, the Utilities recognized pension expense of $41,860 for its proportionate share of <br /> pension expense. In addition, the Utilities recognized an additional $5,779 as pension <br />16 million to the <br />General Employees Fund. <br />At December 31, 2021, the Utilities reported its proportionate share of deferred outflows of <br />resources and deferred inflows of resources, related to pensions from the following sources: <br />DeferredDeferred <br />OutflowsInflows <br />of Resourcesof Resources <br />Differences between Expected and <br />Actual Economic Experience$ 13,643 $ 71,727 <br />Changes in Actuarial Assumptions 1,434,096 50,410 <br />Net Difference between Projected and <br />Actual Earnings on Plan Investments - 2,035,520 <br />Changes in Proportion 92,017 - <br />Contributions paid to PERA subsequent <br />to the Measurement Date 158,351 - <br /> Total$ 1,698,107 $ 2,157,657 <br /> <br /> <br />43 <br />115 <br />