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CITY OF PLEASANTON <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED JUNE 30, 2022 <br />Note 11: Defined Benefit Pension Plan (Continued) <br />The $4,906,207 reported as deferred outflows of resources related to contributions <br />subsequent to the measurement date will be recognized as a reduction of the net pension <br />liability in the year ended June 30, 2023. Other amounts reported as deferred outflows of <br />resources and deferred inflows of resources related to pensions will be recognized as <br />pension expense as follows: <br />Year Ending <br />June 30 <br />Annual <br />Amortization <br />2023 (2,026,017)$ <br />2024 (2,155,331) <br />2025 (2,582,976) <br />2026 (3,281,478) <br />Total (10,045,802)$ <br />Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the <br />Discount Rate – The following presents the City’s proportionate share of the net pension <br />liability for the plan, calculated using the discount rate for the plan, as well as what the <br />City’s proportionate share of the net pension liability would be if it were calculated using <br />a discount rate that is 1-percentage point lower or 1-percentage point higher than the <br />current rate: <br />6.15% <br />44,309,141$ <br />7.15% <br />20,034,837$ <br />8.15% <br />96,497$ Net Pension Liability <br />1% Decrease <br />Net Pension Liability <br />Current Discount Rate <br />Net Pension Liability <br />1% Increase <br />Actuarial assumptions and information regarding the discount rate are discussed in <br />Note 11e. <br />d.LPFD Safety (Fire) Plan <br />As discussed in Notes 9g and 11a, the employees of the LPFD are the <br />City of Pleasanton’s employees, however, as agreed to in the JPA, the City shares equally <br />the Safety Fire Plan affiliated with the LPFD with the City of Livermore, therefore the <br />following tables show only the City of Pleasanton’s 50 percent share. As there is a special <br />funding arrangement with the City of Livermore, the City of Pleasanton only records its <br />50 percent share of the net pension liability and related deferred inflows/outflows, which <br />is included in its Net Investment (Deficit) in LPFD on the Governmental Activities <br />Statement of Net Position, using the equity method of accounting. <br />102