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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 Last Ten Years
<br />Fiscal year ending and measurement date - December 31: 2022 2021 2020 2019 2018 2017
<br />Total pension liability:
<br />Service cost $62,261 $67,890 $46,865 $52,320 $48,182 $47,952
<br />Interest on pension liability 32,439 19,363 19,051 16,603 8,754 6,191
<br />Changes of benefit terms - - - - - -
<br />Differences between expected and actual experience (11,917) 59,354 (81,734) (22,680) 69,760 (11,672)
<br />Changes of assumptions - - - - - -
<br />Changes in benefit level -100,057 - - - -
<br />Benefit payments (46,223) - - - - -
<br />Net change in total pension liability 36,560 246,664 (15,818) 46,243 126,696 42,471
<br />Total pension liability - beginning 501,496 254,832 270,650 224,407 97,711 55,240
<br />Total pension liability - ending (a)$538,056 $501,496 $254,832 $270,650 $224,407 $97,711
<br />Plan fiduciary net position:
<br />Contributions - employer $ - $ - $ - $ - $ - $ -
<br />Contributions - State of Minnesota 147,799 137,872 130,846 121,630 118,144 113,797
<br />Contributions - other - - - - 64,869 58,800
<br />Net investment income (150,995) 83,292 95,960 78,063 (18,696) 9,153
<br />Benefit payments (46,223) - - - - -
<br />Administrative expense (724) (707) (746) (694) (702) (572)
<br />Net change in plan fiduciary net position (50,143) 220,457 226,060 198,999 163,615 181,178
<br />Plan fiduciary net position - beginning 1,034,836 814,379 588,319 389,320 225,705 44,527
<br />Plan fiduciary net position - ending (b)$984,693 $1,034,836 $814,379 $588,319 $389,320 $225,705
<br />Net pension liability/(asset) - ending (a) - (b)($446,637) ($533,340) ($559,547) ($317,669) ($164,913) ($127,994)
<br />Plan fiduciary net position as a percentage of
<br />the total pension liability 183% 206% 320% 217% 173% 231%
<br />Covered payroll N/A N/A N/A N/A N/A N/A
<br />Net pension liability as a percentage of
<br />covered employee payroll N/A N/A 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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