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CITY OF LINO LAKES, MINNESOTA <br />REQUIRED SUPPLEMENTARY INFORMATION <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 - December 31: 2023 & 2022 * 2021 2020 <br />Measurement date - December 31:2022 2021 2020 <br />Total pension liability: <br />Service cost $62,261 $67,890 $46,865 <br />Interest on pension liability 32,439 19,363 19,051 <br />Changes of benefit terms - - - <br />Differences between expected and actual experience (11,917)59,354 (81,734) <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) <br />Total pension liability - beginning 501,496 254,832 270,650 <br />Total pension liability - ending (a)$538,056 $501,496 $254,832 <br />Plan fiduciary net position: <br />Contributions - employer $ - $ - $ - <br />Contributions - State of Minnesota 147,799 137,872 130,846 <br />Contributions - other - - - <br />Net investment income (150,995)83,292 95,960 <br />Benefit payments (46,223) - - <br />Administrative expense (724)(707)(746) <br />Net change in plan fiduciary net position (50,143)220,457 226,060 <br />Plan fiduciary net position - beginning 1,034,836 814,379 588,319 <br />Plan fiduciary net position - ending (b)$984,693 $1,034,836 $814,379 <br />Net pension asset - ending (b) - (a)$446,637 $533,340 $559,547 <br />Plan fiduciary net position as a percentage of <br />the total pension liability 183%206%320% <br />Covered payroll N/A N/A N/A <br />Net pension liability as a percentage of <br />covered employee payroll N/A N/A N/A <br />N/A - the Lino Lakes Fire Department is comprised of paid on-call firefighters whose pay does not meet the definition <br />of covered payroll. <br />The City created its own fire department in 2016. Therefore, information prior to 2016 is not available. Additional years will <br />be reported as they become available. <br />* Prior to 2023, the fiscal year end and measurement date were the same. However, 2023 SVF plan information from <br />PERA is not available and therefore, 2022 amounts were re-reported in the City's 2023 ACFR. <br />See accompanying notes to the required supplementary information. <br />94 <br />101