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% |