Bluff County's schedule of changes in net pension liability and related ratios is shown below. (Deductions should be indicated by a minus sign. Do not round intermediate calculations. Round percentage answers to 2 decimal places and other answers to nearest whole dollar.)

Required

Compute the missing amounts

Explanation

Interest 2023 $66,255 [$123,235 + $1,252 $248,500] = $190,268

Total pension liability, ending 2023 $2,083,815 + $66,255 = $2,150,070

Net change in plan fiduciary net position 2023 $32,700 + $98,780 + $19,090 $64,600 $3,300 = $82,670

Plan fiduciary net position, beginning 2023 $1,221,490 $82,670 = $1,138,820

Plan fiduciary net position as a percentage of total pension liability 2023 $1,221,490/$2,150,070 = 0.5681

Covered-employee payroll 2023 $928,580/1.8609 = $498,995

Benefit payments (including refunds of employee contributions) 2022 $75,595 [$125,460 + $182,590 $855] = ($231,600)

Total pension liability, beginning 2022 $2,083,815 $75,595 = $2,008,220

Total pension liability, ending 2022 $2,083,815 = beginning 2020 balance

Net investment income 2022 $80,600 [$36,250 + $102,535 $42,790 $3,120] = $(12,275)

Plan fiduciary net position, beginning 2022 $1,058,220 = ending 2021 balance

Plan fiduciary net position, ending 2022 $1,058,220 + $80,600 = $1,138,820

Net pension liability, ending 2022 $2,083,815 $1,138,820 = $944,995

Covered-employee payroll 2022 $944,995/1.9496 = $484,712

Net change in total pension liability 2021 $128,150 + $170,160 + $630 $218,060 = $80,880

Total pension liability, ending 2021 $1,927,340 + $80,880 = $2,008,220

Net pension liability, ending 2021 $1,058,220 $1,012,680 = $45,540

Net change in plan fiduciary net position 2021 $2,008,220 $1,058,220 = $950,000

Explanation

Interest 2023 $66,205 [$123,225 + $1,250 $248,000] = $189,730 Total pension liability, ending 2023 $2,083,715 + $66,205 = $2,149,920

(c) Net change in plan fiduciary net position 2023 $32,450 + $98,620 + $18,990 $64,500 $3,290 = $82,270

Plan fiduciary net position, beginning 2023 $1,220,490 $82,270 = $1,138,220 Plan fiduciary net position as a percentage of total pension liability 2023 $1,220,490/$2,149,920 = 0.5677 Covered-employee payroll 2023 $929,430/1.8509 = $502,150

Benefit payments (including refunds of employee contributions) 2022 $75,590 [$125,440 + $182,580 $850] = ($231,580) Total pension liability, beginning 2022 $2,083,715 $75,590 = $2,008,125 Total pension liability, ending 2022 $2,083,715 = beginning 2023 balance Net investment income 2022 $80,500 [$36,240 + $102,530 $42,780 $3,110] = ($12,380) Plan fiduciary net position, beginning 2022 $1,057,720 = ending 2021 balance Plan fiduciary net position, ending 2022 $1,057,720 + $80,500 = $1,138,220

Net pension liability, ending 2022 $2,083,715 $1,138,220 = $945,495 Covered-employee payroll 2022 $945,495/1.9486 = $485,218

Net change in total pension liability 2021 $127,950 + $169,960 + $625 $217,960 = $80,575 Total pension liability, ending 2021 $1,927,550 + $80,575 = $2,008,125

Contributionsemployee 2021 $46,040 [$91,550 $21,510 $51,330 $2,840] = $30,170

Net change in plan fiduciary net position 2021 $1,057,720 $1,011,680 = $46,040 Net pension liability, ending 2021 $2,008,125 $1,057,720 = $950,405 Net pension liability as a percentage of covered-employee payroll 2021 $950,405/$489,810 = 194.04%

\begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{9}{|c|}{ BLUFF COUNTY EMPLOYEE RETIREMENT SYSTEM } \\ \hline \multicolumn{9}{|c|}{ Schedule of Changes in the County's Net Pension Liability and Related Ratios } \\ \hline \multicolumn{9}{|c|}{ Last Three Fiscal Years } \\ \hline & \multicolumn{3}{|c|}{2023} & \multicolumn{2}{|l|}{2022} & \multicolumn{3}{|c|}{2021} \\ \hline \multicolumn{9}{|l|}{ Total pension liability } \\ \hline Service cost & $ & 123,235 & & 125,460 & & $ & 128,150 & \\ \hline Interest & & 190,268 & & 182,590 & & & 170,160 & \\ \hline Differences between expected and actual experience & & 1,252 & & (855) & & & 630 & \\ \hline Benefit payments (including refunds of employee contributions) & & (248,500) & & (231,600) & & & (218,060) & \\ \hline Net change in total pension liability & & 66,255 & & 75,595 & & & 80,880 & \\ \hline Total pension liability, beginning & & 2,083,815 & & 2,008,220 & & & 1,927,340 & \\ \hline Total pension liability, ending & & 2,150,070 & & 2,083,815 & & & 2,008,220 & \\ \hline \multicolumn{9}{|l|}{ Plan fiduciary net position } \\ \hline Contributions-employee & $ & 32,700 & & 36,250 & & $ & 29,820 & \\ \hline Contributions-employer & & 98,780 & & 102,535 & & & 91,560 & \\ \hline Net investment income & & 19,090 & & (12,275) & & & (21,610) & \\ \hline Benefit payments (including refunds of employee contributions) & & (64,600) & & (42,790) & & & (51,380) & \\ \hline Administrative expenses & & (3,300) & & (3,120) & & & (2,850) & \\ \hline Net change in plan fiduciary net position & & 82,670 & & 80,600 & & & 45,540 & \\ \hline Plan fiduciary net position, beginning & & 1,138,820 & & 1,058,220 & & & 1,012,680 & \\ \hline Plan fiduciary net position, ending & & 1,221,490 & & 1,138,820 & & & 1,058,220 & \\ \hline Net pension liability, ending & $ & 928,580 & & 944,995 & & $ & 950,000 & \\ \hline Plan fiduciary net position as a percentage of total pension liability & & 56.81 & % & 54.65 & % & & 52.69 & % \\ \hline Covered payroll & $ & 498,995 & & 484,712 & & $ & 490,310 & \\ \hline Net pension liability as a percentage of covered payroll & & 186.09 & % & 194.96 & % & & 193.75 & % \\ \hline \end{tabular}