BLUFF COUNTY EMPLOYEE RETIREMENT SYSTEM Schedule of Changes in the County\'s Net

Question

BLUFF COUNTY EMPLOYEE RETIREMENT SYSTEM Schedule of Changes in the County's Net Pension Liability and Related Ratios Last 3 Fiscal years 2017 2016 2015 Total pension liability Service cost Interest Differences between expected and actual experience Benefit payments (including refunds of employee contributions) $ 123,285$ 125,560$ 129,150 171,160 655 (218,560) 182,640 (880) 1,262 (251,000) 66,505 2,084,315 75,620 Net change in total pension liability Total pension liability, beginning Total pension liability, ending Plan fiduciary net position 1,926,290 $33,100 $ 36,300 102,560 Contributions-employee Contributions-employer Net investment income Benefit payments (including refunds of employee contributions) Administrative expenses 98,920 19,840 (64,040) (3,150) 91,610 (22,110) (51,630) (2,900) (42,840) (3,170) 81,100 Net change in plan fiduciary net position Plan fiduciary net position, beginning Plan fiduciary net position, ending Net pension liability, ending 1,017,680 1,060,720 1,226,490 $ 924,330 Plan fiduciary net position as a percentage of total pension liability Covered-employee payroll Net pension liability as a percentage of covered-employee payroll 54.78% 52.81 % $ 492,810 191.09 1% 195.46 | %

Explanation / Answer

2017 2016 2015 Total pension Liability Service cost $123,225 125440 127950 Interest a 189730 66205-123225-1250+248000 182580 169960 Difference between expected and actual experience 1250 -850 625 Benefit payment (including refunds of employee contributions) -248000 g -231580 -g=75590-125440-182580+850 -217960 Net change in Total pension Liability A 66205 75590 o 80575 all all above four items Total pension liability, beginning B 2083715 h 2149920 2225510 Total pension liability, ending Z=A+B b 2149920 i 2225510 p 2306085 Plan Fiduiciary net position Contribution- Employee   C 32450 36240 30170 N-E-D+f+G Contribution- Employer   D 98620 102530 91550 Net Investment Income E 18990 j -12380 N-C-D+f+G -21510 Benefit payment (including refunds of employee contributions) F -64500 -42780 -51330 Administrative expenses G -3290 -3110 -2840 net change in Net Fiduciary Net position N c 82270 C+D+E+F+G+h 80500 r 46040 1057720-1011680 Plan Fiduciary net position, Beginning H d 1138220 N-I k 1220490 1011680 Plan Fiduciary net position, Ending I 1220490 l 1300990 1057720 Net pension Liability Ending Y=Z-I 929430 m 924520 s 1248365 Plan fiduciary Net position as % of total pension liability Y/Z*100 e 43.23 45.38% 54.13

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