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CITY OF ROSEVILLE, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2021
<br />F.Change in the Net Pension Liability
<br />Total Plan Net pension
<br />Pension Fiduciary Net Liability (a) -
<br />Liability (a) Position (b)(b)
<br />Balances at January 1, 2021$9,360,830$14,850,239($5,489,409)
<br />Changes for the year
<br />Service cost 26,62226,622
<br />Interest 563,110563,110
<br />Differences between expected
<br />and actual experience (61,093)(61,093)
<br />Changes in Assumptions 186,143186,143
<br />Contributions - state and local264,259(264,259)
<br />Change of benefit terms 537,679537,679
<br />Net investment income 2,566,985(2,566,985)
<br />Benefit payments, including
<br />refunds of employee contibutions (755,377)(755,377) -
<br />Administrative expense (30,056)30,056
<br />Net Charges $497,084$2,045,811($1,548,727)
<br />Balances at December 31, 2021$9,857,914$16,896,050($7,038,136)
<br />Sensitivityofthenetpensionliabilitytochangesinthediscountrate. The following presents
<br />the net pension liability of the City, calculated using the discount rate of 6%, as well as what
<br />the City's net pension liability would be if it were calculated using a discount rate that is 1-
<br />percentage-point lower 5% or 1-percentage-point higher 7% than the current rate:
<br />Current
<br />1% decrease Discount Rate 1% increase
<br />5.0%6.0%7.0%
<br />Net pension liability$6,040,489$7,038,136$7,879,141
<br />Pensionplanfiduciarynetposition. Detailed information about the pension plan's fiduciary
<br />net position is available in the separately issued relief association financial report.
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