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