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City of Elk River <br />Notes to Basic Financial Statements <br />NOTE 11 — PENSION PLANS (CONTINUED) <br />Public Employees' Retirement Association (Continued) <br />D. Pension Costs (Continued) <br />General Employees Fund Pension Costs (Continued) <br />The net pension liability was measured as of June 30, 2021, and the total pension liability used to <br />calculate the net pension liability was determined by an actuarial valuation as of that date. The City's <br />proportionate share of the net pension liability was based on the City's contributions received by PERA <br />during the measurement period for employer payroll paid dates from July 1, 2020, through June 30, <br />2021, relative to the total employer contributions received from all of PERA's participating employers. <br />The City and HRA's proportionate share was 0.1554% at the end of the measurement period and <br />0.1512% for the beginning of the period. <br />City's proportionate share of the net pension liability $ 6,610,551 <br />HRA's proportionate share of the net pension liability 25,725 <br />State of Minnesota's proportionate share of the net pension <br />liability associated with the City 202,474 <br />Total $ 6,813,025 <br />For the year ended December 31, 2021, the City and HRA recognized pension expense of $157,939 and <br />$743, respectively, for their proportionate share of General Employees Plan's pension expense. Included <br />in the amount, the City and HRA recognized $16,269 and $67 as pension expense (and grant revenue), <br />respectively, for their proportionate share of the State of Minnesota's contribution of $16 million to the <br />General Employees Fund. <br />FOR <br />