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CITY OF LAKE ELMO, MINNESOTA
<br />SCHEDULE OF CHANGES IN NET PENSION LIABILITY (ASSET)
<br />FIREFIGHTERS RELEIF ASSOCIATION
<br />LAST TEN YEARS (Presented Prospectively)
<br />
<br />
<br />77
<br />2023 2022 2021 2020 2019 2018 2017 2016 2015
<br />Changes in Total Pension Liability (TPL)
<br />Balance at January 1st 708,203$ 864,850$ 775,033$ 724,844$ 898,899$ 681,802$ 618,531$ 588,689$ 714,621$
<br />Service Cost 39,919 47,844 46,677 38,225 37,293 28,420 27,727 27,579 28,520
<br />Interest on the TPL 41,648 45,031 43,140 39,743 42,177 36,119 35,544 36,976 37,130
<br />Assumption Changes - (15,405) - - - 8,730 - 11,690 -
<br />Plan Changes - - - - - 325,127 - - -
<br />Actuarial Experience (Gains)/Losses - (124,184) - (27,779) - (80,312) - (46,403) -
<br />Benefit Payments (47,604) (109,933) - - (253,525) (100,987) - - (191,582)
<br />Balance at December 31st 742,166$ 708,203$ 864,850$ 775,033$ 724,844$ 898,899$ 681,802$ 618,531$ 588,689$
<br />Plan Fiduciary Net Position (PFNP)
<br />Balance at January 1st 1,273,445$ 1,462,205$ 1,280,455$ 1,097,917$ 1,169,306$ 1,279,379$ 1,075,446$ 963,628$ 1,155,598$
<br />Fire State Aid 118,613 101,778 80,470 76,608 69,975 65,533 61,147 59,136 61,166
<br />Projected Investment Income 75,039 76,145 68,948 118,822 127,902 (61,227) 156,879 70,101 (48,240)
<br />Gain or Loss (12,802) (241,246) 47,138 - - - - - -
<br />Total Additions 180,850 (63,323) 196,556 195,430 197,877 4,306 218,026 129,237 12,926
<br />Benefit Payments (47,604) (109,933) - - (253,525) (100,987) - - (191,582)
<br />Administrative Expenses (7,850) (15,504) (14,806) (12,892) (15,741) (13,392) (14,093) (17,419) (13,314)
<br />Total Reductions (55,454) (125,437) (14,806) (12,892) (269,266) (114,379) (14,093) (17,419) (204,896)
<br />Balance at December 31st 1,398,841$ 1,273,445$ 1,462,205$ 1,280,455$ 1,097,917$ 1,169,306$ 1,279,379$ 1,075,446$ 963,628$
<br />Net Pension Liability (Asset) - December 31st (656,675)$ (565,242)$ (597,355)$ (505,422)$ (373,073)$ (270,407)$ (597,577)$ (456,915)$ (374,939)$
<br />Plan Fiduciary Net Position as a Percentage of
<br />Total Pension Liability (Asset)188.5%179.8%169.1%165.2%151.5%130.1%187.6%173.9%163.7%
<br />Note:The schedule is provided prospectively with the City’s fiscal year ended December 31,2016 (December 31,2015 measurement date)and is intended to show a ten year trend.Additional years
<br />will be reported as they become available.
<br />Measurement Year Ended December 31,
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