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8.A. - Page 41 of 73
<br />Pension Contributions Subsequent to Measurement Date
<br />Changes of Assumptions
<br />Differences between Expected & Actual Experiences
<br />Net Differences between Projected & Actual Earnings
<br />on Plan Investments
<br />Total
<br />Attachment D
<br />Miscellaneous Plan
<br />Safety Plan
<br />Deferred Deferred
<br />Deferred
<br />Deferred
<br />Outflows of Inflows of
<br />Outflows of
<br />Inflows of
<br />Resources Resources
<br />Resources
<br />Resources
<br />$ 7,527,907 $ --
<br />$ 10,880,756
<br />$ --
<br />11,589,264 --
<br />15,792,556
<br />(1,197,233)
<br />882,225 --
<br />1,851,642
<br />--
<br />2,400,188 --
<br />2,436,638
<br />--
<br />$ 22,399,584 $ --
<br />$ 30,961,592
<br />$ (1,197,233)
<br />Source: City of Redwood City 2018 Comprehensive Annual Financial Report.
<br />$18,408,663 reported as deferred outflows of resources related to contributions subsequent to the
<br />measurement date will be recognized as a reduction of the net pension liability in the fiscal year ended June
<br />30, 2018. Other amounts reported as deferred outflows of resources and deferred inflows of resources
<br />related to pensions will be recognized as pension expenses as follows:
<br />Fiscal Year Ending
<br />June 30
<br />2018
<br />2019
<br />2020
<br />2021
<br />Miscellaneous
<br />Plan
<br />Safety Plan
<br />$ 6,981,183
<br />$ 4,970,035
<br />8,443,990
<br />9,842,933
<br />1,118,582
<br />5,942,674
<br />(1,672,088)
<br />(1,872,039)
<br />Source: City of Redwood City 2018 Comprehensive Annual Financial Report.
<br />Three-year trend information for the City's pension plan for both miscellaneous and safety plans for
<br />fiscal years ending June 30 is set forth below:
<br />Three-year Trend of Annual Pension Cost
<br />AIf: -,. ,. 11.....
<br />Fiscal year
<br />Annual
<br />Percentage of
<br />ended
<br />pension cost
<br />APC
<br />June 30
<br />(APC)
<br />contributed
<br />2016
<br />$ 6,923,087
<br />100%
<br />2017
<br />7,428,605
<br />100
<br />2018
<br />7,527,907
<br />100
<br />Source: City of Redwood City 2018 Comprehensive Annual Financial Report.
<br />A-13
<br />Net pension
<br />obligations
<br />555
<br />
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