|
CITY OF ST. ANTHONY, MINNESOTA
<br />REQUIRED SUPPLEMENTARY INFORMATION Statement 15
<br />SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS -
<br />ST. ANTHONY FIRE DEPARTMENT RELIEF ASSOCIATION
<br />For The Last Ten Years
<br />Fiscal Year Ending and Measurement date December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2017 December 31, 2016 December 31, 2015
<br />Total pension liability:
<br />Service cost $28,986 $28,181 $40,799 $37,633 $37,542 $47,233 $44,095
<br />Interest 48,237 46,153 42,195 40,951 44,308 31,829 30,759
<br />Changes in benefit terms - - 35,173 26,091 - - -
<br />Differences between expected and actual experience (58,248) (33,785) (71,654) - (35,041) - -
<br />Changes of assumptions - - 15,462 - 2,699 (36,075) -
<br />Benefit payments (13,240) - (27,928) (144,500) (7,260) (80,200) (25,472)
<br />Net change in total pension liability 5,735 40,549 34,047 (39,825) 42,248 (37,213) 49,382
<br />Total pension liability - beginning 781,581 741,032 706,985 746,810 704,562 741,775 692,393
<br />Total pension liability - ending (a) $787,316 $781,581 $741,032 $706,985 $746,810 $704,562 $741,775
<br />Plan fiduciary net position:
<br />Contributions - employer $7,890 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
<br />Contributions - State of Minnesota 60,530 58,407 54,716 53,083 51,206 51,174 48,725
<br />Contributions - employee - - - - - - -
<br />Net investment income 117,572 150,122 98,394 (54,281) 93,511 39,971 (23,129)
<br />Benefit payments (13,240) - (27,928) (144,500) (7,260) (80,200) (25,472)
<br />Administrative expense (2,919) (12,185) (11,640) (11,547) (11,829) (8,653) (10,561)
<br />Net change in plan fiduciary net position 169,833 202,344 119,542 (151,245) 131,628 8,292 (4,437)
<br />
<br />Plan fiduciary net position - beginning 1,203,904 1,001,560 882,018 1,033,263 901,635 893,343 897,780
<br />Plan fiduciary net position - ending (b) $1,373,737 $1,203,904 $1,001,560 $882,018 $1,033,263 $901,635 $893,343
<br />Net pension liability (asset) - ending (a) - (b) ($586,421) ($422,323) ($260,528) ($175,033) ($286,453) ($197,073) ($151,568)
<br />Plan fiduciary net position as a percentage of the
<br /> total pension liability 174.5% 154.0% 135.2% 124.8% 138.4% 128.0% 120.4%
<br />Covered-employee payroll* NA NA NA NA NA NA NA
<br />Net pension liability as a percentage of covered
<br /> employee payroll* NA NA NA NA NA NA NA
<br />Pension benefit per year of service $3,800 $3,800 $3,800 $3,500 $3,300 $3,300 $3,300
<br />Number of plan participants 31 33 30 33 35 32 32
<br />*The Relief Association is comprised of volunteers, therefore there are no payroll expenditures.
<br />GASB 68 was implemented in 2015. Information prior to 2015 is not available.
<br />See accompanying notes to the required supplementary information.
<br />100
|