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City of Elk River <br />Notes to Basic Financial Statements <br />NOTE 12 — 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, 2022, 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, 2021, through June 30, <br />2022, relative to the total employer contributions received from all of PERA's participating employers. <br />The City and HRA's proportionate share was 0.1614% at the end of the measurement period and <br />0.1554% for the beginning of the period. <br />City's proportionate share of the net pension liability $ 12,716,785 <br />HRA's proportionate share of the net pension liability 66,148 <br />State of Minnesota's proportionate share of the net pension <br />liability associated with the City 374,912 <br />Total $ 13,157,845 <br />For the year ended December 31, 2022, the City and HRA recognized pension expense of $1,268,315 <br />and $12,792, respectively, for their proportionate share of General Employees Plan's pension expense. <br />Included in the amount, the City and HRA recognized $35,951 and $284 as pension expense (and grant <br />revenue), respectively, for their proportionate share of the State of Minnesota's contribution of $16 <br />million to the General Employees Fund. <br />:1 <br />