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CITY OF ST. ANTHONY, MINNESOTA
<br />REQUIRED SUPPLEMENTARY INFORMATION
<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 - December 31 2023 & 2022* 2021 2020
<br />Measurement date - December 31 2022 2021 2020
<br />Total pension liability:
<br />Service cost $33,436 $28,986 $28,181
<br />Interest 49,245 48,237 46,153
<br />Changes in benefit terms - - -
<br />Differences between expected and actual experience (32,532)(58,248)(33,785)
<br />Changes of assumptions - - -
<br />Benefit payments - (13,240) -
<br />Net change in total pension liability 50,149 5,735 40,549
<br />Total pension liability - beginning 787,316 781,581 741,032
<br />Total pension liability - ending (a)$837,465 $787,316 $781,581
<br />Plan fiduciary net position:
<br />Contributions - employer $ - $7,890 $6,000
<br />Contributions - State of Minnesota 67,800 60,530 58,407
<br />Contributions - employee - - -
<br />Net investment income (205,177)117,572 150,122
<br />Benefit payments - (13,240) -
<br />Administrative expense (1,014)(2,919)(12,185)
<br />Net change in plan fiduciary net position (138,391)169,833 202,344
<br />Plan fiduciary net position - beginning 1,373,737 1,203,904 1,001,560
<br />Plan fiduciary net position - ending (b)$1,235,346 $1,373,737 $1,203,904
<br />Net pension asset - ending (b) - (a)$397,881 $586,421 $422,323
<br />Plan fiduciary net position as a percentage of the
<br /> total pension liability 147.5%174.5%154.0%
<br />Covered-employee payroll N/A N/A N/A
<br />Net pension liability as a percentage of covered
<br /> employee payroll N/A N/A N/A
<br />Pension benefit per year of service $3,800 $3,800 $3,800
<br />Number of plan participants 34 31 33
<br />GASB 68 was implemented in 2015. Information prior to 2015 is not available.
<br />N/A - the Relief Association is comprised of paid on-call firefighters whose pay does not meet the definition of covered payroll.
<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 />100
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