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CITY OF PARIS, TEXAS <br />Notes to Financial Statements (Continued) <br />September 30, 2021 <br />IV. Detailed Notes on All Activities and Funds (Continued) <br />F. Employee Retirement Systems and Plans (Continued) <br />1. Texas Municipal Retirement System (Continued) <br />Sensitivity of the Net Pension Liability to Changes in the Discount Rate (Continued) <br />I% Decrease in <br />Discount Rate <br />5.75% <br />City's Net Pension Liability (Asset) $6,842,820 <br />Pension Plan Fiduciary Net Position <br />Discount Rate <br />6.75% <br />$(1,272,101) <br />1% Increase in <br />Discount Rate <br />7.75% <br />$(8,051,758) <br />Detailed information about the pension plan's Fiduciary Net Position is available in a separately -issued <br />TMRS financial report. That report may be obtained on the Internet at wwwamrs. com.. <br />Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to <br />Pensions <br />For the year ended September 30, 2021, the City recognized pension expense of $(513,056). <br />At September 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources <br />related to pensions from the following sources: <br />Difference Between Expected and Actual Economic Experience <br />(Net of Current Year Amortization) <br />Changes in Actuarial Assumptions <br />Differences Between Projected and Actual Investment Earnings <br />(Net of Current Year Amortization) <br />Contributions Subsequent to the Measurement Date <br />Total <br />Deferred Outflows Deferred Inflows <br />of Resources of Resources <br />$ $ 366,155 <br />48,455 <br />- 1,856,729 <br />600,218 - <br />$ 600,218 $ 2,271L339 <br />$600,218 reported as deferred outflows of resources, related to pensions resulting from contributions <br />subsequent to the measurement date, will be recognized as a reduction of the net pension liability for the year <br />ending September 30, 2022. Other amounts reported as deferred outflows and inflows of resources related to <br />pensions, will be recognized in pension expense as follows: <br />Fiscal Year Ended September 30, <br />2022 <br />$ (931,772) <br />2023 <br />(70,589) <br />2024 <br />(1,160,094) <br />2025 <br />(108,884) <br />Thereafter <br />$ (2,271,339) <br />47 <br />