VLAWMO Annual Financial Report 2018

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VADNAIS LAKE AREA WATER MANAGEMENT ORGANIZATION REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2018 Schedule of Employer's Share of PERA Net Pension Liability — General Employees Retirement Fund Fiscal Year Ending 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Organization's Proportion of the Net Pension Liability 0.0041 % 0.0041 0.0041 0.0041 States Proportionate Organization's Share of the Proportionate Net Pension Share of the Liability Net Pension Associated Liability with the City (a) (b) $ 238,546 $ 306,429 332,900 212,483 Organization's Covered Total Payroll (a+b) (c) $ 238,546 $ 291,293 306,429 309,693 332,900 286,044 212,483 242,844 Organization's Proportionate Share of the Net Pension Liability as a Percentage of Covered Payroll ((a+b)/c 81.9 % 98.9 116.4 87.5 Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 47.9 % 68.9 78.2 78.2 Schedule of Employer's Share of PERA Contributions — General Employees Retirement Fund Contributions in Relation to the Statutorily Statutorily Required Required Year Contribution Contribution Ending (a) (b) 12/31/18 $ 21,847 $ 21,847 12/31/17 23,227 23,227 12/31/16 19,128 19,128 12/31 /15 19,530 19,530 Contributions as a Contribution Organization's Percentage of Deficiency Covered Covered (Excess) Payroll Payroll (a-b) (c) (b/c) $ $ 291,293 7.50 % 309,693 7.50 255,040 7.50 260,400 7.50 Note: Information is required to be presented for 10 years. However, until a full 10-year trend is compiled, the Organization will present information for only those years for which information is available. NOTES TO SCHEDULE OF CHANGES IN NET PENSION LIABILITIES AND RELATED RATIOS The following changes in actuarial assumptions occurred in 2018: General Employees Fund • The mortality projection scale was changed from MP-2015 to MP-2017. • The assumed benefit increase was changed from 1.00% per year through 2044 and 2.50% per year thereafter to 1.25% per year. (40)