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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 />2. Firefighters' Relief and Retirement Fund (Continued)
<br />Net Pension Liability „and Changesm the „Pension Liabil'
<br />The following presents the net pension liability of the Paris Firefighters' Relief and Retirement Fund,
<br />calculated using the discount rate of 7.25%, as well as what the City's net pension liability (asset) would be
<br />if it were calculated using a discount rate that is I -percentage -point lower (6.25%) or I -percentage -point
<br />higher (8.25%) than the current rate:
<br />1% Decrease in
<br />Discount Rate
<br />6.25%
<br />Net Pension Liability $204,408
<br />Pension ,Plan ,Fiduciary Net Position
<br />I% Increase in
<br />Discount Rate Discount Rate
<br />T25% 8.25%
<br />$(1,494,133) .$( ........
<br />.........
<br />(2,897,627)
<br />Detailed information about the pension plan's Fiduciary Net Position is available in a separately issued
<br />financial report. That report may be obtained at 1444 N. Main Street, Paris, Texas 75460.
<br />Pension_ ExNpse and Deferred Outflows ofwResources and, Deferred Inflows,_ of Resources Related to
<br />Pensions
<br />For the year ended September 30, 2025, the City recognized pension expense of $468,658.
<br />59
<br />Increase (Decrease)
<br />Net Pension
<br />Total Pension
<br />Plan
<br />Liability
<br />Liability
<br />Fiduciary Net
<br />(Asset)
<br />Position,(.ry.....,
<br />(a) — (b)
<br />Balance at 12/31/2023
<br />$ 15,370,058
<br />_ ... .......
<br />$ 16,728,381
<br />$ (1,358 323)
<br />Changes for the year:
<br />Service Cost
<br />-
<br />-
<br />-
<br />Interest
<br />1,071,933
<br />-
<br />1,071,933
<br />Experience
<br />19,285
<br />-
<br />19,285
<br />Change of Benefit Terms
<br />-
<br />-
<br />-
<br />Difference Between Expected and Actual Experience
<br />-
<br />-
<br />-
<br />Changes of Assumptions
<br />-
<br />-
<br />-
<br />Contributions — Employer
<br />-
<br />-
<br />-
<br />Contributions — Employee
<br />-
<br />-
<br />-
<br />Net Investment Income
<br />-
<br />1,255,492
<br />(1,255,492)
<br />Benefit Payments, Including Refunds of Employee
<br />Contributions
<br />(1,169,559)
<br />(1,169,559)
<br />-
<br />Administrative Expense
<br />-
<br />(28,464)
<br />28,464
<br />Other Changes-
<br />Net Changes
<br />8,3411_
<br />57,469....
<br />J35,8 10
<br />Balance at 12/31/2024
<br />$ 15,291,717
<br />$ 16,785,850
<br />$ (1,494,133)
<br />The following presents the net pension liability of the Paris Firefighters' Relief and Retirement Fund,
<br />calculated using the discount rate of 7.25%, as well as what the City's net pension liability (asset) would be
<br />if it were calculated using a discount rate that is I -percentage -point lower (6.25%) or I -percentage -point
<br />higher (8.25%) than the current rate:
<br />1% Decrease in
<br />Discount Rate
<br />6.25%
<br />Net Pension Liability $204,408
<br />Pension ,Plan ,Fiduciary Net Position
<br />I% Increase in
<br />Discount Rate Discount Rate
<br />T25% 8.25%
<br />$(1,494,133) .$( ........
<br />.........
<br />(2,897,627)
<br />Detailed information about the pension plan's Fiduciary Net Position is available in a separately issued
<br />financial report. That report may be obtained at 1444 N. Main Street, Paris, Texas 75460.
<br />Pension_ ExNpse and Deferred Outflows ofwResources and, Deferred Inflows,_ of Resources Related to
<br />Pensions
<br />For the year ended September 30, 2025, the City recognized pension expense of $468,658.
<br />59
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