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CITY OF PARIS, TEXAS <br />Notes to Financial Statements (Continued) <br />September 30, 2024 <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 />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 1% Increase in <br />Discount Rate Discount Rate Discount Rate <br />5.75% 6.75% 7.75% <br />City's Net Pension Liability (Asset) $ 8,177,048 $ (261,675) $ (7,367,134) <br />Pension Plan Fiduciary Net Position <br />Detailed information about the pension plan's Fiduciary Net Position is available in a separately -issued TMRS <br />financial report. That report may be obtained on the Internet at www. tmrs. com. <br />Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions <br />For the year ended September 30, 2024, the City recognized pension expense of $159,274. <br />At September 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related <br />to pensions from the following sources: <br />Deferred Outflows <br />of Resources <br />Difference Between Expected and Actual Economic Experience <br />(Net of Current Year Amortization) <br />Changes in Actuarial Assumptions <br />Differences Between Projected and Actual Investment Earnings <br />(Net of Current Year Amortization) <br />Contributions Subsequent to the Measurement Date <br />Total <br />66 <br />Deferred Inflows <br />of Resources <br />$ 209,295 <br />403,521 <br />1,921,579 - <br />730,838 - <br />$ 2,652,417 'S 612,816 <br />