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CITY OF ROSEVILLE, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2016 City's proportionate share of the GERF net pension liability City's proportionate share of the PEPFF net pension liability 1 % Decrease in Discount Rate 6.5% $ 16,087,282 1 % Decrease in Discount Rate 4.6% $ 28,707,525 H. Pension Plan Fiduciary Position Discount Rate 7.5% $ 11,326,708 Discount Rate 5.6% $ 20,507,319 1 % Increase in Discount Rate 8.5% $ 7,405,291 1 % Increase in Discount Rate 6.6% $ 13,807,128 Detailed information about each pension plan's fiduciary net position is available in a separately- issued PERA financial report that includes financial statements and required supplementary information. That report may be obtained on the Internet at www.mnpera.org; by writing to PERA at 60 Empire Drive #200, St. Paul, Minnesota, 55103-2088; or by calling (651) 296-7460 or 1-800-652-9026. I. Defined Contribution Plan The Public Employees Defined Contribution Plan (PEDCP), a multiple-employer deferred compensation plan administered by PERA, covers four council members and the mayor of the City of Roseville. The PEDCP is a tax qualified plan under Section 401(a) of the Internal Revenue Code and all contributions by or on behalf of employees are tax deferred until time of withdrawal. Plan benefits depend solely on amounts contributed to the plan plus investment earnings, less administrative expenses. Minnesota Statutes, Chapter 353D.03, specifies plan provisions, including the employee and employer contribution rates for those qualified personnel who elect to participate. An eligible elected official who decides to participate contributes 5% of salary which is matched by the elected official's employer. For ambulance service personnel, employer contributions are determined by the employer, and for salaried employees must be a fixed percentage of salary. Employer contributions for volunteer personnel may be a unit value for each call or period of alei-t duty. Employees who are paid for theu services may elect to malce member contributions in an amount not to exceed the employer share. Employer and employee contributions are combined and used to purchase shares in one or more of the seven accounts of the Minnesota Supplemental Investment Fund. For administering the plan, PERA receives 2°/o of employer contributions and twenty-�ve hundredths of 1% (.0025) of the assets in each member's account annually. .•