NOTES TO FINANCIAL STATEMENTS NOTE 6. PENSION BENEFIT PLANS (CONTINUED) The following schedule reflects membership for the Plan as of June 30, 2020 and June 30, 2019. 2019 2020 Retired participants and beneficiaries Terminated vested participants Active participants Total 469 74 642 1,185 441 74 686 1,201 Net Pension Liability. The Authority’s net pension liability for the years ended June 30, 2021 and 2020, are as follows: 2021 Total pension liability Plan net position Net pension liability Plan net position as a percentage of the total pension liability $ $ 329,196 $ 327,875 1,321 $ 99.6% 2020 309,577 293,735 15,842 94.9% The Authority’s changes in the net pension liability by source for the fiscal year ended June 30, 2021, is reflected below: Total Pension Liability (a) Beginning Balance Changes for the year: Service cost Interest Experience changes Assumption changes Contributions – employer Contributions – employee Net investment income (loss) Benefit payments, including refunds of employee contributions Administrative expense Net changes Ending Balance $ $ 309,577 $ 4,385 22,821 (471) 4,583 - - - (11,699) - 19,619 329,196 $ Plan Fiduciary Net Position (b) 293,735 $ - - - - 17,935 760 27,886 (11,699) (742) 34,140 327,875 $ Net Pension Liability (a) – (b) 15,842 4,385 22,821 (471) 4,583 (17,935) (760) (27,886) - 742 (14,521) 1,321 38
