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NOTE 2 – DEFINED BENEFIT PENSION PLANS, CONTINUED
<br />A. Schedule of Changes in Net Pension Liability and Related Ratios During the Measurement Period, Continued
<br />Safety Plan
<br />Measurement Pe (1)2015‐16 2014‐15 2013‐14
<br />TOTAL PENSION LIABILITY
<br />Service Cost 7,609,467$ 7,620,719$ 6,630,333$
<br />Interest 24,274,395 22,992,406 21,880,004
<br />Changes of Benefit Terms ‐ ‐ ‐
<br />Difference Between Expected and Actual Experience 2,056,832 210,529 ‐
<br />Changes of Assumptions ‐ (5,686,859) ‐
<br />Benefit Payments, Including Refunds of Employee Contributions (16,758,122) (15,054,516) (14,361,985)
<br />Net Change in Total Pension Liability 17,182,572 10,082,279 14,148,352
<br />Total Pension Liability ‐ Beginning 319,829,844 309,747,565 295,599,213
<br />Total Pension Liability ‐ Ending (a)337,012,416$ 319,829,844$ 309,747,565$
<br />PLAN FIDUCIARY NET POSITION
<br />Contributions ‐ Employer 11,288,655$ 9,993,967$ 7,791,669$
<br />Contributions ‐ Employee 2,375,511 2,420,787 2,230,065
<br />Net Investment Income (2)1,179,363 4,953,411 32,968,535
<br />Benefit Payments, Including Refunds of Employee Contributions (16,758,122) (15,054,516) (14,361,985)
<br />Other Changes in Fiduciary Net Position (132,896) (245,450) ‐
<br />Net Change in Fiduciary Net Position (2,047,489) 2,068,199 28,628,284
<br />Plan Fiduciary Net Position ‐ Beginning 218,060,352 215,992,153 187,363,869
<br />Plan Fiduciary Net Position ‐ Ending (b)216,012,863$ 218,060,352$ 215,992,153$
<br />Plan Net Position Liability/(Asset) ‐ Ending (a) ‐ (b)120,999,553$ 101,769,492$ 93,755,412$
<br />Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 64.10%68.18%69.73%
<br />Covered Payroll 25,867,584$ 25,330,626$ 21,679,799$
<br />Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 467.77% 401.76% 432.46%
<br />(1) Historical information is required only for measurement periods for which GASB 68 is applicable.
<br />(2) Net of administrative expenses.
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<br />6.1.E. - Page 114
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