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CITY OF LINO LAKES, MINNESOTA
<br />REQUIRED SUPPLEMENTARY INFORMATION Statement 16
<br />SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS -
<br />LINO LAKES PUBLIC SAFETY DEPARTMENT - FIRE DIVISION
<br />For The Last Ten Years
<br />Fiscal year ending and measurement date December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2017
<br />Total pension liability:
<br />Service cost $46,865 $52,320 $48,182 $47,952
<br />Interest on pension liability 19,051 16,603 8,754 6,191
<br />Changes of benefit terms - - - -
<br />Differences between expected and actual experience (81,734)(22,680)69,760 (11,672)
<br />Changes of assumptions - - - -
<br />Benefit payments, including refunds of employee contributions - - - -
<br />Net change in total pension liability (15,818)46,243 126,696 42,471
<br />Total pension liability - beginning 270,650 224,407 97,711 55,240
<br />Total pension liability - ending (a)$254,832 $270,650 $224,407 $97,711
<br />Plan fiduciary net position:
<br />Contributions - employer $ - $ - $ - $ -
<br />Contributions - State of Minnesota 130,846 121,630 118,144 113,797
<br />Contributions - other - - 64,869 58,800
<br />Net investment income 95,960 78,063 (18,696)9,153
<br />Benefit payments, including refunds of employee contributions - - - -
<br />Administrative expense (746)(694)(702)(572)
<br />Net change in plan fiduciary net position 226,060 198,999 163,615 181,178
<br />Plan fiduciary net position - beginning 588,319 389,320 225,705 44,527
<br />Plan fiduciary net position - ending (b)$814,379 $588,319 $389,320 $225,705
<br />Net pension liability/(asset) - ending (a) - (b)($559,547)($317,669)($164,913)($127,994)
<br />Plan fiduciary net position as a percentage of the total pension liability 320%217%173%231%
<br />Covered payroll N/A N/A N/A N/A
<br />Net pension liability as a percentage of covered employee payroll N/A N/A N/A 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 />Additional years will be reported as they become available.
<br />See accompanying notes to the required supplementary information.
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