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City Fiscal <br />Year -End Date <br />12/31/2015 <br />12/31/2016 <br />12/31/2017 <br />12/31/2018 <br />City Fiscal <br />Year -End Date <br />12/31/2015 <br />12/31/2016 <br />12/31/2017 <br />12/31/2018 <br />Note 1: <br />CITY OF RAMSEY <br />PERA — Public Employees Police and Fire Fund <br />Schedule of City's Proportionate Share of Net Pension Liability <br />PERA Fiscal <br />Year -End Date <br />(Measurement <br />Date) <br />06/30/2015 <br />06/30/2016 <br />06/30/2017 <br />06/30/2018 <br />Statutorily <br />Required <br />Contributions <br />City's <br />Proportion <br />of the Net <br />Pension <br />Liability <br />City's <br />Proportionate <br />Share of the <br />Net Pension <br />Liability <br />0.2090% $ 2,374,729 <br />0.2080% $ 8,347,402 <br />0.2190% $ 2,956,761 <br />0.2161% $ 2,303,404 <br />City's <br />Covered <br />Payroll <br />$ 1,917,443 <br />$ 2,000,574 <br />$ 2,243,957 <br />$ 2,277,516 <br />PERA — Public Employees Police and Fire Fund <br />Schedule of City Contributions <br />Contributions <br />in Relation to <br />the Statutorily <br />Required <br />Contributions <br />Contribution <br />Deficiency <br />(Excess) <br />$ 326,419 $ 326,419 $ <br />$ 339,699 $ 339,699 $ <br />$ 357,524 $ 357,524 $ <br />$ 382,968 $ 382,968 $ <br />Covered <br />Payroll <br />— $ 2,014,315 <br />— $ 2,096,907 <br />— $ 2,206,938 <br />— $ 2,364,000 <br />City's <br />Proportionate <br />Share of the <br />Net Pension <br />Liability as a <br />Percentage of <br />Covered <br />Payroll <br />123.85% <br />417.25% <br />131.77% <br />101.14% <br />Contributions <br />as a <br />Percentage <br />of Covered <br />Payroll <br />16.20% <br />16.20% <br />16.20% <br />16.20% <br />Plan Fiduciary <br />Net Position <br />as a <br />Percentage <br />of the Total <br />Pension <br />Liability <br />86.60% <br />63.90% <br />85.40% <br />88.80% <br />Changes in Plan Provisions. In 2015, the post -retirement benefit increase to be paid after attainment <br />of the 90.0 percent funding threshold was changed, from inflation up to 2.5 percent, to a fixed rate of <br />2.5 percent. <br />98 <br />