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CITY OF PARIS, TEXAS <br />Required Supplementary Information <br />Paris Firefighters' Relief and Retirement Fimd <br />Schedide of City Contributions <br />Year Ended September 30, 2022 <br />Schedule 4 <br />Fiscal Year Ended September 30, <br />2022 2021 2020 2019 2018 2017 2016 2015 <br />Contrachially Required Fiscal Year Contribution <br />$ 457,000 $ 388,839 $ 393,157 $ 336,951 $ 326,067 $ 320,851 <br />$ 332,665 $ 301,329 <br />Contribution in Relation to the Contrachially Required Fiscal Year <br />Contribution (457,000) (388,839) (393,157) (336,951) (326,067) (320,851) <br />(332,665) (301,329) <br />Contribution Deficiency (Excess) <br />$ $ $ $ $ $ <br />$ $ <br />Covered Payroll <br />$ 3,582,668 $ 2,777,425 $ 2,817,872 $ 2,713,093 $ 2,717,229 $ 2,795,465 <br />$ 2,772,967 $ 2,511,047 <br />Contributions as a Percentage of Covered Payroll <br />12.76% 14.00% 13.95% 12.42% 12.00% 11.48% <br />12.00% 12.00% <br />Notes to Schedule <br />Valuation Date <br />December 31, 2020, rolled forward to 2021 <br />Methods and Assimlptions ilsed to Determine Contribution <br />Rates: <br />Actuarial Cost Method <br />Entry Age Normal <br />Amortization Method <br />Level Percentage ofPayroll <br />Remaining Arnortization Period <br />33.6 years <br />Asset Valuation Method <br />MarketVahue of Assets <br />Salary Increases <br />3.50% <br />Investment Rate ofReti— <br />7.25% <br />Retirement Age <br />Active members are assimred to retire 2 years after they have either (a) both attained the age of 55 and completed at least <br />20 years of service or (b) satisfied the nile of 80. Active members who have already met the regiuireiments for service <br />retirement are assimred to retire one year after the valivation date. Benefits for vested terminated members are assimred to start <br />on the same date as normal retirement benefits. <br />Mortality <br />Employee and healthy arm itant rates from the Pub -2010 Public Safety Below Median Mortality Table, generationally <br />projected itsiiig the ultumate rates ofthe MP -2018 i mproveiment scales. <br />Other Information <br />There were no benefit changes dining the year. <br />Note: The pension scliedides in the required supplementary information are intended to show information for ten years. Additional years' information will be displayed as it becomes available. <br />79 <br />