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NOTE 2 – DEFINED BENEFIT PENSION PLANS
<br />A. Schedule of Changes in Net Pension Liability and Related Ratios During the Measurement Period
<br />Miscellaneous Plan
<br />Measurement Period (1)2015‐16 2014‐15 2013‐14
<br />TOTAL PENSION LIABILITY
<br />Service Cost 4,988,704$ 4,787,766$ 4,962,237$
<br />Interest 20,902,896 19,792,491 18,925,939
<br />Changes of Benefit Terms ‐ ‐ ‐
<br />Difference Between Expected and Actual Experience 2,720,291 (546,244) ‐
<br />Changes of Assumptions ‐ (4,797,291) ‐
<br />Benefit Payments, Including Refunds of Employee Contributions (13,150,802) (12,621,036) (11,534,695)
<br />Net Change in Total Pension Liability 15,461,089 6,615,686 12,353,481
<br />Total Pension Liability ‐ Beginning 274,601,243 267,985,557 255,632,076
<br />Total Pension Liability ‐ Ending (a)290,062,332$ 274,601,243$ 267,985,557$
<br />PLAN FIDUCIARY NET POSITION
<br />Contributions ‐ Employer 7,063,347$ 6,882,313$ 6,449,302$
<br />Contributions ‐ Employee 2,605,290 2,372,657 2,592,457
<br />Net Investment Income (2)1,020,359 4,413,116 29,955,563
<br />Benefit Payments, Including Refunds of Employee Contributions (13,150,802) (12,621,036) (11,534,695)
<br />Other Changes in Fiduciary Net Position (112,373) (205,162) ‐
<br />Net Change in Fiduciary Net Position (2,574,179) 841,888 27,462,627
<br />Plan Fiduciary Net Position ‐ Beginning 198,433,873 197,591,985 170,129,358
<br />Plan Fiduciary Net Position ‐ Ending (b)195,859,694$ 198,433,873$ 197,591,985$
<br />Plan Net Position Liability/(Asset) ‐ Ending (a) ‐ (b)94,202,638$ 76,167,370$ 70,393,572$
<br />Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 67.52%72.26%73.73%
<br />Covered Payroll 31,484,407$ 28,944,841$ 28,592,551$
<br />Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 299.20% 263.15% 246.20%
<br />(1) Historical information is required only for measurement periods for which GASB 68 is applicable.
<br />(2) Net of administrative expenses.
<br />REQUIRED SUPPLEMENTARY INFORMATION
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<br />6.1.E. - Page 113
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