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NOTE 8 — DEFINED BENEFIT PENSION PLANS — STATE-WIDE (CONTINUED) <br />The City's proportion of the net pension liability was based on the City's contributions received by <br />PERA during the measurement period for employer payroll paid dates from July 1, 2018, through June <br />30, 2019, relative to the total employer contributions received from all of PERA's participating <br />employers. At June 30, 2019, the City's proportion share was 0.0530% which was an increase of <br />0.0003% from its proportion measured as of June 30, 2018. <br />City's proportionate share of the net pension liability $2,930,253 <br />State of Minnesota's proportionate share of the net pension <br />liability associated with the City 91,163 <br />Total $3.021,416 <br />For the year ended December 31, 2019, the City recognized pension expense of $387,678 for its <br />proportionate share of the GERF's pension expense. In addition, the City recognized an additional <br />$6,815 as pension expense (and grant revenue) for its proportionate share of the State of Minnesota's <br />contribution of sixteen million to the GERF. <br />At December 31, 2019, the City reported its proportionate share of the GERF's deferred outflows of <br />resources and deferred inflows of resources related to pensions from the following sources: <br />Deferred Deferred <br />Outflows of Inflows of <br />Resources Resources <br />Differences between expected and actual economic experience $ 82,667 $ <br />Changes in actuarial assumptions 234,406 <br />Differences between projected and actual investment earnings 313,807 <br />Changes in proportion 99,767 76,607 <br />Contributions paid to PERA subsequent to the measurement <br />date 148,414 <br />Total $ 330,848 $ 624,820 <br />$148,414 reported as deferred outflows of resources related to pensions resulting from City contributions <br />subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year <br />ended December 31, 2020. Other amounts reported as deferred outflows and inflows of resources related <br />to pensions will be recognized in pension expense as follows: <br />Year ended December 31: Pension Expense Amount <br />2020 $ (117,790) <br />2021 (275,164) <br />2022 (54,154) <br />2023 4,722 <br />Total $ (442.386) <br />82 <br />