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CITY OF LINO LAKES, MINNESOTA <br />REQUIRED SUPPLEMENTARY INFORMATION Statement 17 <br />SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS - <br />LINO LAKES PUBLIC SAFETY DEPARTMENT - FIRE DIVISION <br />For The Year Ended December 31, 2017 <br />Fiscal year ending and measurement date <br />December 31, 2017 <br />December 31, 2016 <br />Total pension liability: <br />Service cost <br />$47,952 <br />$38,419 <br />Interest on pension liability <br />6,191 <br />3,568 <br />Changes of benefit terms <br />- <br />- <br />Differences between expected and actual experience <br />(11,672) <br />(7,804) <br />Changes of assumptions <br />- <br />- <br />Benefit payments, including refunds of employee contributions <br />- <br />- <br />Net change in total pension liability <br />42,471 <br />34,183 <br />Total pension liability - beginning <br />55,240 <br />21,057 <br />Total pension liability - ending (a) <br />$97,711 <br />$55,240 <br />Plan fiduciary net position: <br />Contributions - employer <br />$58,800 <br />$44,394 <br />Contributions - State of Minnesota <br />113,797 <br />- <br />Net investment income <br />9,153 <br />133 <br />Benefit payments, including refunds of employee contributions <br />- <br />- <br />Administrative expense <br />(572) <br />- <br />Net change in plan fiduciary net position <br />181,178 <br />44,527 <br />Plan fiduciary net position - beginning <br />44,527 <br />- <br />Plan fiduciary net position - ending (b) <br />$225,705 <br />$44,527 <br />Net pension liability/(asset) - ending (a) - (b) <br />($127,994) <br />$10,713 <br />Plan fiduciary net position as a percentage of the total pension liability <br />231.0% <br />80.6% <br />Covered payroll <br />N/A <br />N/A <br />Net pension liability as a percentage of covered employee payroll <br />N/A <br />N/A <br />N/A - the Lino Lakes Fire Department is comprised of paid on-call firefighters, whose pay does <br />not meet the definition of covered payroll. <br />The City created its own fire department in 2016. Therefore, information prior to 2016 is not available. <br />�r7 <br />