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IV-47CITY OF LINO LAKES, MINNESOTA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS -LINO LAKES PUBLIC SAFETY DEPARTMENT-FIRE DIVISION For The Year Ended December 31, 2018 Statutorily Contributions in Contribution Fiscal Year Required Relation to the Deficiency Covered Ending Contribution Statutorily Required (Excess) December 31.__ !a) Contribution !!?2 !a-b) 2016 $ $44,394 ($44,394) 2017 58,800 (58,800) 2018 64,869 (64,869) NIA-the Lino Lakes Fire Department is comprised of paid on-call firefighters, whose pay does not meet the defintion of covered payroll. Payroll !c) NIA NIA NIA The City created its own fire department in 2016. Therefore, information prior to 2016 is not available. Contributions as a Percentage of Covered-Employee P~ll!!?Lc) NIA NIA NIA CITY OF LINO LAKES, MINNESOTA REQUIRED SUPPLEMENTARY INFORMATION NOTES TO RSI December 31, 2018 Note A LEGAL COMPLIANCE -BUDGETS The General Fund budget is legally adopted on a basis consistent with accounting principles generally accepted in the United States of America. The legal level of budgetary control is at the department level for the General Fund. Note B OPED INFORMATION No assets are accumulated in a trust that meets the criteria in paragraph 4 ofGASB Statement No. 75 to pay related benefits. There are no :fuctors that affect trends in the amounts reported, such as changes of benefit terms or asswnptions. Note C PENSION INFORMATION PERA-General Employees Retirement Fnnd 2018 Changes in Actuarial Asswnptions: • The mortality projection scale was changed from MP-2015 to MP-2017. • The asswned benefit increase was changed from 1.00°/o per year through 2044 and 2.50% per year thereafter to 1.25% per year. 2017 Changes in Actuarial Assumptions: • The Combined Service Annuity (CSA) loads were changed from 0.8% for active members and 60% for vested and non-vested deferred members. The revised CSA loads are now 0.()% for active member liability, 15.0% for vested deferred member liability and 3.0% for non-vested deferred member liability. • The asswned post-retirement benefit increase rate was changed from 1.0% per year for all years to 1.0% per year through 2044 and 2.5% per year thereafter. 2016 Changes in Actuarial Asswnptions: • The assumed post-retirement benefit increase rate was changed from 1.0% per year through 2035 and 2.5% per year thereafter to 1.0% per year for all future years. The assumed investment return was changed from 7 .9% to 7 .5%. The single discount rate was changed from 7.9% to 7.5%. • Other assumptions were changed pursuant to the experience study dated June 30, 2015. The assumed future salary increases, payroll growth, and inflation were decreased by 0.25% to 3.25% for payroll growth and 2.50% for inflation.