Pension Plans
Required Supplementary Information
Schedule of Changes in the Net Pension Liability and Plan Net Position
(Expressed in Thousands)
 
  2014 2014 2014
Total Pension Liability SERS TRS JRS
Service Cost $287,473 $347,198 $7,539
Interest 1,998,736 2,090,483 26,301
Benefit Changes - - -
Difference between expected and
actual experience - - -
Changes of assumptions - - -
Benefit payments (1,563,029) (1,737,144) (21,668)
Refunds of contributions (3,935) - -
Net change in total pension liability 719,245 700,537 12,172
Total pension liability - beginning 25,767,688 25,648,672 339,601
Total pension liability - ending (a) $26,486,933 $26,349,209 $351,773
Plan net position
Contributions - employer $1,268,890 $948,540 $16,298
Contributions - member 144,807 261,213 1,641
Net investment income 1,443,391 2,277,550 23,156
Benefit payments (1,563,029) (1,737,144) (21,668)
Administrative expense - - -
Refunds of contributions (3,935) - -
Other - - -
Other Changes - (5,307) -
Net change in plan net position 1,290,124 1,744,852 19,427
Plan net position - beginning 9,182,443 14,462,903 168,353
Plan net position - ending (b) $10,472,567 $16,207,755 $187,780
Ratio of plan net position
to total pension liability 39.54% 61.51% 53.38%
Net pension liability - ending (a) -(b) $16,014,366 $10,141,454 $163,993
Covered-employee payroll $3,487,577 $3,831,624 $33,386
Net pension liability as a percentage
of covered-employee payroll 459.18% 264.68% 491.20%