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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2017 <br />G. PENSION LIABILITY SENSITIVITY <br />The following presents the City's proportionate share of the net pension liability for all plans it <br />participates in, calculated using the discount rate disclosed in the preceding paragraph, as well as what <br />the City's proportionate share of the net pension liability would be if it were calculated using a discount <br />rate 1 percentage point lower or 1 percentage point higher than the current discount rate: <br />H. PENSION PLAN FIDUCIARY NET POSITION <br />Detailed information about each pension plan's fiduciary net position is available in a separately -issued <br />PERA financial report that includes financial statements and required supplementary information. That <br />report may be obtained at www.mnpera.org. <br />I. PENSION EXPENSE <br />Pension expense recognized by the City for the year ended December 31, 2017 is as follows: <br />GERF $381,011 <br />PEPFF 874,127 <br />Fire Pension Plan (Note 9) 45,088 <br />Total $1,300,226 <br />Note 9 DEFINED BENEFIT PENSION PLAN — FIRE DIVISION <br />A. PLAN DESCRIPTION <br />The Lino Lakes Public Safety Department — Fire Division participates in the Statewide Volunteer <br />Firefighter Retirement Plan (SVF), an agent multiple -employer lump -sum defined benefit pension plan <br />administered by the Public Employees Retirement Association of Minnesota (PERA). The SVF plan <br />covers volunteer firefighters of municipal fire departments or independent nonprofit firefighting <br />corporations that have elected to join the plan. At December 31, 2017 (measurement date), the plan <br />covered 23 active firefighters and zero vested terminated fire fighters whose pension benefits are <br />deferred. The plan is established and administered in accordance with Minnesota Statutes, Chapter <br />353G. <br />FTI <br />1% Decrease in <br />1% Increase in <br />Discount Rate (6.5%) <br />Discount Rate (7.5%) Discount Rate (8.5%) <br />City's proportionate share of the <br />GERF net pension liability <br />$4,099,410 <br />$2,642,949 $1,450,571 <br />City's proportionate share of the <br />PEPFF net pension liability <br />$6,534,657 <br />$3,469,806 $939,602 <br />City's proportionate share of the <br />H. PENSION PLAN FIDUCIARY NET POSITION <br />Detailed information about each pension plan's fiduciary net position is available in a separately -issued <br />PERA financial report that includes financial statements and required supplementary information. That <br />report may be obtained at www.mnpera.org. <br />I. PENSION EXPENSE <br />Pension expense recognized by the City for the year ended December 31, 2017 is as follows: <br />GERF $381,011 <br />PEPFF 874,127 <br />Fire Pension Plan (Note 9) 45,088 <br />Total $1,300,226 <br />Note 9 DEFINED BENEFIT PENSION PLAN — FIRE DIVISION <br />A. PLAN DESCRIPTION <br />The Lino Lakes Public Safety Department — Fire Division participates in the Statewide Volunteer <br />Firefighter Retirement Plan (SVF), an agent multiple -employer lump -sum defined benefit pension plan <br />administered by the Public Employees Retirement Association of Minnesota (PERA). The SVF plan <br />covers volunteer firefighters of municipal fire departments or independent nonprofit firefighting <br />corporations that have elected to join the plan. At December 31, 2017 (measurement date), the plan <br />covered 23 active firefighters and zero vested terminated fire fighters whose pension benefits are <br />deferred. The plan is established and administered in accordance with Minnesota Statutes, Chapter <br />353G. <br />FTI <br />