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CITY OF PARIS, TEXAS
<br />Notes to Financial. Statements (Continued)
<br />September 30, 2025
<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 Liabilil +.and. Chan es,an the Pension Liabilily
<br />Balance at 12/31/2023
<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 12/31/2024
<br />Increase (Decrease)
<br />S,ensitivity,,,,of the Net Pen towChanl esm the Discount 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 1% Increase in
<br />Discount Rate Discount Rate Discount Rate
<br />5.75% 6.75% 7.75%
<br />City's Net Pension Liability Asset ........$ 18 7 .......... .........__ ... _ .... _. _._w__.._. ... ..... ........
<br />ty' ty ( ) 97,631 $ 7,986,681 $ (1,038,601)
<br />Pension Plan Fiduciary 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.com.
<br />Pension Expense and Deferred -,Outflows off Resourc.q,s and__Deferred Inflows_ofwResources Relatedto
<br />Pensions
<br />For the year ended September 30, 2025, the City recognized pension expense of $11,444,378.
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<br />Net Pension
<br />Total Pension
<br />Plan Fiduciary
<br />Liability
<br />Liability
<br />Net Position
<br />(Asset)
<br />oda)....... ......w
<br />ibl. — ............
<br />(a) — (b)
<br />$... 73,141,216
<br />$ 73 402,891
<br />$ 1261,675)
<br />2,727,458
<br />-
<br />2,727,458
<br />5,563,007
<br />-
<br />5,563,007
<br />9,612,994
<br />-
<br />9,612,994
<br />269,405
<br />-
<br />269,405
<br />-
<br />1,018,758
<br />(1,018,758)
<br />-
<br />1,330,467
<br />(1,330,467)
<br />-
<br />7,625,525
<br />(7,625,525)
<br />(3,676,054)
<br />(3,676,054)
<br />-
<br />-
<br />(49,094)
<br />49,094
<br />__........_.......
<br />(1148~
<br />_. r ...,..
<br />1,1 48
<br />....w__............4 .4......
<br />14,496810 w
<br />,6,248,454„
<br />8,248,356
<br />S 87,638,026 �
<br />$ 79,651,345
<br />$ 7,986,681 mm
<br />S,ensitivity,,,,of the Net Pen towChanl esm the Discount 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 1% Increase in
<br />Discount Rate Discount Rate Discount Rate
<br />5.75% 6.75% 7.75%
<br />City's Net Pension Liability Asset ........$ 18 7 .......... .........__ ... _ .... _. _._w__.._. ... ..... ........
<br />ty' ty ( ) 97,631 $ 7,986,681 $ (1,038,601)
<br />Pension Plan Fiduciary 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.com.
<br />Pension Expense and Deferred -,Outflows off Resourc.q,s and__Deferred Inflows_ofwResources Relatedto
<br />Pensions
<br />For the year ended September 30, 2025, the City recognized pension expense of $11,444,378.
<br />55
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