2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2024

NOTE 14 – PENSION PLANS (CONTINUED) Public Employees' Retirement Association (Continued)

H. Pension Liability Sensitivity

The table on the following page presents the City's proportionate share of the net pension liability for all plans it participates in, calculated using the discount rate disclosed in the preceding paragraph, as well as what the City's proportionate share of the net pension liability would be if it were calculated using a discount rate one percentage point lower or one percentage point higher than the current discount rate.

(6%) 1% Decrease in Discount Rate

1% Increase in Discount Rate

Discount Rate

(7%)

(8%)

General Employees Fund net pension liability Employees Fund net pension liability Commission's proportionate share of the City's proportionate share of the General

$

9,266,780

$

4,242,718

$

109,970

$

5,465,881

$

2,502,508

$

64,864

1% Decrease in Discount Rate

Discount Rate 1% Increase in

Discount Rate

(6%)

(7%)

(8%)

and Fire Fund net pension liability City's proportionate share of the Police

$

14,558,935

$

6,160,699

$

(736,010)

I. Pension Plan Fiduciary Net Position

Detailed information about each pension plan's fiduciary net position is available in a separately-issued PERA financial report that includes financial statements and required supplementary information. That report may be obtained on the Internet at www.mnpera.org.

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