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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2021
<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, 2020 309,423,413$ 212,824,426$ 96,598,987$
<br />Changes in the year:
<br />Service cost 3,874,755 - 3,874,755
<br />Interest on the total pension liability 21,804,805 - 21,804,805
<br />Changes of benefit terms
<br />Changes of assumptions
<br />Differences between expected and actual 2,724,076 - 2,724,076
<br /> experience
<br />Plan to plan resource movement
<br />Contributions - employer - 8,774,417 (8,774,417)
<br />Contributions - employees - 1,750,192 (1,750,192)
<br />Net investment income - 10,595,404 (10,595,404)
<br />Benefit payments, including refunds of employee
<br />contributions (18,245,091) (18,245,091)-
<br />Administrative expense - (300,030) 300,030
<br />Other Miscellaneous Income/(Expense)- --
<br />Net changes 10,158,545 2,574,892 7,583,653
<br />Balance at June 30, 2021 319,581,958$ 215,399,318$ 104,182,640$
<br />D.Safety Cost-Sharing Multiple-Employer Plan
<br />As of June 30, 2021, the Safety cost-sharing plan reported net pension liabilities for its proportionate
<br />shares of the net pension liability at $99,877,170.
<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, 2019 and 2020 was as follows:
<br />Safety
<br />Proportion - June 30, 2019 0.899285%
<br />Proportion - June 30, 2020 0.917952%
<br />Change - Increase (Decrease)0.018667%
<br />81342
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