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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 />2. Firefighters' Relief and Retirement Fund (Continued) <br />if it were calculated using a discount rate that is 1 -percentage -point lower (6.25%) or 1 -percentage -point <br />higher (8.25%) than the current rate: <br />1% Decrease in <br />1% Increase in <br />Discount Rate <br />Discount Rate <br />Discount Rate <br />6.25% <br />7.25% <br />8.25% <br />Net Pension Liability $379,151 <br />$(1,358,323) <br />$(2,789,322) <br />Pension Plan Fiduciary Net Position <br />Detailed information about the pension plan's Fiduciary Net Position is available in a separately -issued financial <br />report. That report may be obtained at 1444 N. Main Street, Paris, Texas 75460. <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 $65,179. <br />Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions <br />(Continued) <br />At September 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related <br />to pensions from the following sources: <br />Difference Between Expected and Actual Economic Experience <br />$ 57,423 $ 520,195 <br />Changes in Actuarial Assumptions <br />Difference Between Projected and Actual Investment Earnings <br />Contributions Subsequent to the Measurement Date <br />Total <br />Deferred Outflows Deferred Inflows <br />of Resources of Resources <br />984,159 <br />25,006 <br />1.041.582 $ 545,201 <br />Amounts reported as deferred outflows and inflows of resources related to pensions, will be recognized in pension <br />expense as follows: <br />Fiscal Year Ended September 30, <br />2025 $ 108,100 <br />2026 185,395 <br />2027 318,047 2028 (170,666) 2029 55,505 <br />Thereafter - Total $ 496 381 <br />71 <br />