Total Pension Liability
$ 17,851,084
$ 16,306,448
$ 14,988,616
Less Fiduciary Net Position
(17,104,070)
(17,104,070)
(17,104,070)
Net Pension Liability
$ 747,014
$ (797,622)
$ (2,115,454)
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Sensitivity of the Net Pension Liability to Changes in the Discount Rate
The following presents the District’s net pension liability calculated using the discount rate of 6.34 percent, as well as what the District’s net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (5.34 percent) or 1-percentage- point higher (7.34 percent) than the current rate:
1% Decrease
(5.34%)
Current Discount Rate (6.34%)
1% Increase
(7.34%)
Total Pension Liability | $ 17,851,084 | $ 16,306,448 | $ 14,988,616 | ||
Less Fiduciary Net Position | (17,104,070) | (17,104,070) | (17,104,070) | ||
Net Pension Liability | $ 747,014
| $ (797,622)
| $ (2,115,454)
|
Changes in the Net Pension Asset | |||
Increase (Decrease) | |||
Total Pension Liability (a) | Plan Fiduciary Net Position (b)
| Net Pension Liability (a)-(b) | |
Balances at 6/30/2020 | $ 16,080,731 | $ (16,300,840)
| $ (220,109) |
Changes for the year: Expected interest growth | 975,128 | (987,200) | (12,072) |
Unexpected investment income | - | (1,298,548) | (1,298,548) |
Benefit payments, including refunds of member contributions | (1,454,272) | 1,454,272 | - |
Demographic experience | 99,810 | - | 99,810 |
Assumption Changes | 605,051 | 605,051 | |
Administrative Expenses | - | 28,246
| 28,246 |
Net change in total pension liability | 225,717 | (803,230)
| (577,513) |
Balances at 6/30/2021 | $ 16,306,448
| $ (17,104,070) | $ (797,622) |
