NOTES TO FINANCIAL STATEMENTS NOTE 7. PENSION BENEFIT PLANS (CONTINUED) Net Pension Liability (Asset). The Authority’s net pension liability (asset) for the years ended June 30, 2019 and 2018, are as follows: Total pension liability 2019 $ Plan net position Net pension asset Plan net position as a percentage of the total pension liability $ 279,602 $ 289,022 (9,420) $ 103.4% 2018 261,465 267,944 (6,479) 102.5% The Authority’s changes in the net pension asset by source for the fiscal year ended June 30, 2019, is reflected below: Total Pension Liability (a) Beginning Balance Changes for the year: Service cost Interest Experience changes Assumption changes Amortization of assumption changes Contributions – employer Contributions – employee Net investment income (loss) Benefit payments, including refunds of employee contributions Administrative expense Net changes Ending Balance $ $ 261,465 $ 4,110 21,039 2,048 382 - - - - (9,442) - 18,137 279,602 $ Plan Fiduciary Net Position (b) 267,944 $ - - - - - 10,819 795 19,787 (9,442) (881) 21,078 289,022 $ Net Pension Asset (a) – (b) (6,479) 4,110 21,039 2,048 382 - (10,819) (795) (19,787) - 881 (2,941) (9,420) 30
