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CITY OF PARIS, TEXAS
<br />Notes to Financial Statements (Continued)
<br />September 30, 2022
<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 />Net Pension Liability and Changes in the Pension Liability
<br />Balance at 12/31/2020
<br />Changes for the year:
<br />Service Cost
<br />Interest
<br />Change of Benefit Terms
<br />Difference Between Expected and Actual Experience
<br />Changes of Assumptions
<br />Contributions — Employer
<br />Contributions — Employee
<br />Net Investment Income
<br />Benefit Payments, Including Refunds of Employee
<br />Contributions
<br />Administrative Expense
<br />Other Changes
<br />Net Changes
<br />Balance at 12/31/2021
<br />Increase (Decrease)
<br />Sensitivity of the Net Pension Liability to Changes in the Discount Rate
<br />The following presents the net pension liability of the City, calculated using the discount rate of 6.75%, as
<br />well as what the City's net pension liability (asset) would have been if it were calculated using a discount
<br />rate that is 1 -percentage -point lower (5.75%) or 1 -percentage -point higher (7.75%) than the current rate:
<br />1% Decrease in
<br />Plan
<br />Net Pension
<br />Total Pension
<br />Fiduciary
<br />Liability
<br />Liability
<br />Net Position
<br />(Asset)
<br />(a)
<br />(b)
<br />(a) — (b)
<br />$ 67,105,668
<br />$68,377,769
<br />$ (1,272,101)
<br />1,443,089
<br />-
<br />1,443,089
<br />4,487,312
<br />-
<br />4,487,312
<br />390,679
<br />-
<br />390,679
<br />(749,803)
<br />-
<br />(749,803)
<br />-
<br />878,482
<br />(878,482)
<br />-
<br />783,806
<br />(783,806)
<br />-
<br />8,898,242
<br />(8,898,242)
<br />(3,748,402)
<br />(3,748,402)
<br />-
<br />-
<br />(41,245)
<br />41,245
<br />-
<br />282
<br />(282)
<br />1,822,875
<br />6,771,165
<br />(4,948,290)
<br />$ 68,928,543
<br />$75,148,934
<br />$ (6,220,391)
<br />Sensitivity of the Net Pension Liability to Changes in the Discount Rate
<br />The following presents the net pension liability of the City, calculated using the discount rate of 6.75%, as
<br />well as what the City's net pension liability (asset) would have been if it were calculated using a discount
<br />rate that is 1 -percentage -point lower (5.75%) or 1 -percentage -point higher (7.75%) than the current rate:
<br />1% Decrease in
<br />1% Increase in
<br />Discount Rate
<br />Discount Rate
<br />Discount Rate
<br />5.75%
<br />6.75%
<br />7.75%
<br />City's Net Pension Liability (Asset) $2,014,870
<br />$(6,220,391)
<br />$(13,116,858)
<br />Pension Plan Fiduciary Net Position
<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 www. tmrs. com.
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