Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2014 BASIC FINANCIAL STATEMENTS Required Supplementary Information Schedule of Changes in the Net Pension Liability and Plan Net Position

Pension Plans
Required Supplementary Information
Schedule of Changes in the Net Pension Liability and Plan Net Position
(Expressed in Thousands)
SERS TRS JRS
2014 2014 2014
       
Service Cost $287,473 $347,198 $7,539
Interest 1,998,736 2,104,895 26,301
Benefit Changes - - -
Difference between expected and
actual experience - - -
Changes of assumptions - - -
Benefit payments (1,563,029) (1,732,707) (21,668)
Refunds of contributions (3,935) - -
Net change in total pension liability 719,245 719,386 12,172
Total pension liability - beginning 25,767,688 25,629,823 339,601
Total pension liability - ending (a) $26,486,933 $26,349,209 $351,773
Plan net position
Contributions - employer $1,268,890 $949,209 $16,298
Contributions - member 144,807 273,038 1,641
Net investment income 1,443,391 2,250,837 23,156
Benefit payments (1,563,029) (1,732,707) (21,668)
Administrative expense - - -
Refunds of contributions (3,935) - -
Other - - -
Net change in plan net position 1,290,124 1,740,377 19,427
Plan net position - beginning 9,182,443 14,480,512 168,353
Plan net position - ending (b) $10,472,567 $16,220,889 $187,780
Net pension liability - ending (a) -(b) $16,014,366 $10,128,320 $163,993
Total pension liability $26,486,933 $26,349,209 $351,773
Plan net position 10,472,567 16,220,889 187,780
Net pension liability $16,014,366 $10,128,320 $163,993
Ratio of plan net position net
position to total pension liability 39.54% 61.56% 53.38%
Covered-employee payroll $3,487,577 $3,831,624 $33,386
Net pension liability as a percentage
of covered-employee payroll 459.18% 264.33% 491.20%
Plan net position - beginning 9,182,443 14,480,512 168,353
Plan net position - ending (b) $9,182,448 $14,480,515 $168,358
Net pension liability - ending (a) -(b) $(9,037,641) $(14,207,477) $(166,717)

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