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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2019
<br />NOTE 13 – PENSION PLAN (Continued)
<br />C.Miscellaneous (All Other) Agents Multiple-Employer Plan
<br />The changes in the Net Pension Liability for the City’s Miscellaneous Plan are as follows:
<br />Increase (Decrease)
<br />Total Pension
<br />Liability
<br />Plan Fiduciary
<br />Net Position
<br />Net Pension
<br />Liability/(Asset)
<br />Balance at June 30, 2017 291,055,707$ 198,914,923$ 92,140,784$
<br />Changes in the year:
<br />Service cost 4,095,987 4,095,987
<br />Interest on the total pension liability 20,204,782 20,204,782
<br />Changes of benefit terms
<br />Changes of assumptions (1,768,314) (1,768,314)
<br />Differences between expected and actual
<br /> experience (596,425) (596,425)
<br />Plan to plan resource movement (1,934) 1,934
<br />Contributions - employer 6,873,684 (6,873,684)
<br />Contributions - employees 1,762,858 (1,762,858)
<br />Net investment income 16,783,894 (16,783,894)
<br />Benefit payments, including refunds of employee
<br />contributions (16,309,242) (16,309,242)
<br />Administrative expense (309,964) 309,964
<br />Other Miscellaneous Income/(Expense)(588,627) 588,627
<br />Net changes 5,626,788 8,210,669 (2,583,881)
<br />Balance at June 30, 2018 296,682,495$ 207,125,592$ 89,556,903$
<br />D.Safety Cost-Sharing Multiple-Employer Plan
<br />As of June 30, 2019, the Safety cost-sharing plan reported net pension liabilities for its proportionate
<br />shares of the net pension liability at $85,739,175.
<br />The Safety Plan net pension liability is measured as the proportionate share of the net pension liability in
<br />the State-wide pool. The City’s proportion of the net pension liability was based on a projection of the
<br />City’s long-term share of contributions to the pension plan relative to the projected contributions of all
<br />participating employers, actuarially determined. The City’s proportionate share of the net pension
<br />liability for the Safety Plan as of June 30, 2017 and 2018 was as follows:
<br />Safety
<br />Proportion - June 30, 2017 0.851676%
<br />Proportion - June 30, 2018 0.889755%
<br />Change - Increase (Decrease)0.038079%
<br />80227
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