GEORGIA PORTS AUTHORITY REQUIRED SUPPLEMENTARY INFORMATION RETIREMENT PLAN FOR THE EMPLOYEES OF GEORGIA PORTS AUTHORITY SCHEDULE OF CHANGES IN THE AUTHORITY’S NET PENSION LIABILITY (ASSET) AND RELATED RATIOS FOR THE FISCAL YEARS ENDED JUNE 30, (In Thousands) 2021 Total pension liability Service cost Interest on total pension liability Differences between expected and actual experience Changes in assumptions and/or cost method Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability beginning Total pension liability - ending (a) Plan fiduciary net position Contributions - employer Contributions - employee Net investment income Benefit payments, including refunds of employee contributions Administrative expenses Net change in plan fiduciary net position Plan fiduciary net position - beginning Plan fiduciary net position - ending (b) Authority's net pension liability (asset) ending (a) - (b) Plan fiduciary net position as a percentage of the total pension liability Covered payroll Net pension liability (asset) as a percentage of covered payroll $ $ $ 4,385 $ 22,821 (471) 4,583 (11,699) 19,619 309,577 329,196 17,935 760 27,886 (11,699) (742) 34,140 293,735 327,875 1,321 $ 99.6% 52,406 $ 2.5% 2020 4,152 $ 21,739 6,375 8,408 (10,700) 29,974 279,603 309,577 10,172 784 5,308 (10,700) (852) 4,712 289,023 293,735 15,842 $ 94.9% 54,143 $ 29.3% Notes to the Schedule: The schedule will present 10 years of information once it is accumulated. 2019 4,110 $ 21,039 2,048 383 (9,442) 18,138 261,465 279,603 10,819 795 19,787 (9,442) (880) 21,079 267,944 289,023 (9,420) $ 103.4% 54,426 $ (17.3%) 2018 4,497 $ 19,958 (1,020) (3,549) (8,658) 11,228 250,237 261,465 12,824 798 28,503 (8,658) (706) 32,761 235,183 267,944 (6,479) $ 102.5% 55,385 $ (11.7%) 2017 4,226 18,563 - 1,120 (7,840) 16,069 234,168 250,237 18,631 814 (47) (7,840) (509) 11,049 224,134 235,183 15,054 94.0% 55,363 27.2% 53
