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<br /> 85 <br />City of Elk River <br />Notes to Basic Financial Statements <br /> <br /> <br />NOTE 12 – PENSION PLANS (CONTINUED) <br /> <br />Public Employees' Retirement Association (Continued) <br /> <br />D. Pension Costs (Continued) <br /> <br />General Employees Fund Pension Costs (Continued) <br /> <br />Discretely Presented Component Unit (Continued) <br /> <br />The $486,500 for the City and the $2,900 for the HRA reported as deferred outflows of resources <br />related to pensions resulting from City and HRA contributions subsequent to the measurement date <br />will be recognized as a reduction of the net pension liability in the year ended December 31, 2024. <br />Other amounts reported as deferred outflows and deferred inflows of resources related to pensions <br />will be recognized in pension expense as noted on the following page. <br /> <br />Primary Government <br /> <br />Pension <br />Year Ending Expense <br />December 31,Amount <br />2024 342,866$ <br />2025 (1,226,982) <br />2026 212,879 <br />2027 (195,967) <br />Total (867,204)$ <br />Discretely Presented Component Unit <br /> <br />Pension <br />Year Ending Expense <br />December 31,Amount <br />2024 2,159$ <br />2025 (7,126) <br />2026 1,301 <br />2027 (1,156) <br />Total (4,822)$ <br /> <br />Page 206 of 464