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CITY OF PARIS, TEXAS
<br />Notes to Financial Statements (Continued)
<br />September 30, 2023
<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 Changs in the Pension Liatil,ity;
<br />Balance at 12/31/2021
<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 12/31/2022
<br />Increase (Decrease)
<br />Sensitivity of the Net Pension Liability to Chan ! sITinmtheDiscount 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 />Net Pension
<br />Total Pension
<br />Plan Fiduciary
<br />Liability
<br />Liability
<br />Net Position
<br />(Asset)
<br />a)
<br />—(bi'
<br />(a) — (b)
<br />$ 68,928,543
<br />$ 75,148,934
<br />$ (6,220,391) .
<br />1,660,689
<br />-
<br />1,660,689
<br />4,595,080
<br />-
<br />4,595,080
<br />(18,490)
<br />-
<br />(18,490)
<br />-
<br />1,049,532
<br />(1,049,532)
<br />-
<br />999,555
<br />(999,555)
<br />-
<br />(5,492,045)
<br />5,492,045
<br />(3,907,254)
<br />(3,907,254)
<br />-
<br />-
<br />(47,640)
<br />47,640
<br />_... -
<br />56,848
<br />(56,848),
<br />2,330,025 ....,3
<br />..
<br />17,341,004
<br />m wwwww_9,671,029
<br />$ 71,258,568
<br />$ 67,807,930
<br />$ 3,450,638
<br />Sensitivity of the Net Pension Liability to Chan ! sITinmtheDiscount 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 Discount Rate
<br />Discount Rate
<br />_ ..$ 5.75% 6.75%
<br />7.75%
<br />City's Net Pension Liability (Asset) 111,9. � 3,45. WWWWW
<br />' 27,931 $ 3,450,638
<br />._..
<br />$ (3,653,3380}80)
<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,.c,om.
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