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Note: The pension schedules in the required supplementary information are intended to show information for ten years. Additional years' information will be displayed as it becomes available. ig CITY OF PARIS, TEXAS Schedule 2 Required Supplementary Information Texas Municipal Retirement System - Schedule of City Pension Contributions Year Ended September 30, 2023 Fiscal Year Ends) September 30, 2023 2022 2021 2020 2019 2018 2017 2016 2015 Contractually Required Fiscal Year Contribution $ 947,941 $ 972,171 S 809,036 $ 852,884 $ 834,605 $ 825,691 $ 801,727 $ 733,564 $ 704,441 Contribution in Relation to the Contractually Required Fiscal Year Contribution (947,941) (972,171) 809,036) (852,884) (834,605) (825,691) (801,727) (733,564) (704,441) Contribution Deficiency (Excess) $ $ $ $ $ $ $ $ -L-- Covered Payroll $ 17,888,791 $ 13,050,044 $ 11,761,104 $ 11,975,225 S 11,980,216 $ 11,846,360 $ 11,615,574 $ 12,058,579 $ 11,203,172 Contributions as a Percentage of Covered Payroll 5.30% 7.45% 6.88% 7.12% 6.97°/ 6.97•/ 6.90% 6.08% 6.29% Notes to Schedule Valuation Date Actuarially determined contribution rates are calculated as of December 31 and become effective January, 13 months later. Methods and Assumptions used to Determine Contribution Rates: Actuarial Cos[ Method Entry Age Normal Amortization Method Level Percentage of Payroll, Closed Remaining Amortization Perir 20 Years (longest amortization ladder) Asset Valuation Method 10 year smoothed market; 12% soft corridor Inflation 2.50% Salary Increases 3.50'/ to 11.509/6, including inflation Investment Rale of Return 6.75% Retirement Age Experience -based table based on rates that are specific to the City's plan of be.cfls. Last updmed for the 2019 valuation pursuant to an experience studv of the period 2014-2018. Mortality Post Retirement: 2019 Municipal Retirees of Texas Mortality Tables. The rates are pmjected on a fully generational basis with scale UMP. Pre -retirement PUB(10) mortality tables, with the Public Safety table used for males and the General Employee table used for females. The rates are oroiccled on a fully generational basis with scale UMP. Other Information Opened plan to current and future firelighters. Note: The pension schedules in the required supplementary information are intended to show information for ten years. Additional years' information will be displayed as it becomes available. ig