Pension Plans
Required Supplementary Information
Schedule of Changes in the Net Pension Liability and Plan Net Position
(Expressed in Thousands)
 
  2015 2015 2015 2014 2014 2014
Total Pension Liability SERS TRS JRS SERS TRS JRS
Total Pension Liability
Service Cost $310,472 $404,449 $8,142 $287,473 $347,198 $7,539
Interest 2,052,651 2,162,174 27,240 1,998,736 2,090,483 26,301
Benefit payments (1,650,465) (1,773,408) (22,541) (1,563,029) (1,737,144) (21,668)
Refunds of contributions (7,124) (50,329) - (3,935) - -
Net change in total pension liability 705,534 742,886 12,841 719,245 700,537 12,172
Total pension liability - beginning 26,486,933 26,349,209 351,773 25,767,688 25,648,672 339,601
Total pension liability - ending (a) $27,192,467 $27,092,095 $364,614 $26,486,933 $26,349,209 $351,773
Plan net position
Contributions - employer $1,371,651 $984,110 $17,731 $1,268,890 $948,540 $16,298
Contributions - member 187,339 228,100 1,791 144,807 261,213 1,641
Net investment income 294,412 452,942 4,781 1,443,391 2,277,550 23,156
Benefit payments (1,650,465) (1,773,408) (22,541) (1,563,029) (1,737,144) (21,668)
Refunds of contributions (7,124) (50,329) - (3,935) - -
Other Changes - 57,749 - - (5,307) -
Net change in plan net position 195,813 (100,836) 1,762 1,290,124 1,744,852 19,427
Plan net position - beginning 10,472,567 16,220,889 187,780 9,182,443 14,462,903 168,353
Plan net position - ending (b) $10,668,380 $16,120,053 $189,542 $10,472,567 $16,207,755 $187,780
Ratio of plan net position
to total pension liability 39.23% 59.50% 51.98% 39.54% 61.51% 53.38%
Net pension liability - ending (a) -(b) $16,524,087 $10,972,042 $175,072 $16,014,366 $10,141,454 $163,993
Covered-employee payroll 3,618,361 4,078,367 34,972 $3,487,577 $3,831,624 $33,386
Net pension liability as a percentage
of covered-employee payroll 456.67% 269.03% 500.61% 459.18% 264.678% 491.20%