None Bluff County's schedule of changes in net pension liability and related ratios is shown below. (Deductions should be Indicated by aminus sign. Do not round Intermediate calculations. Round percentage answers to 2 decimal places and other answers to nearestwhole dollar.)RequiredCompute the missing amountsTotal pension liabilityBLUFF COUNTY EMPLOYEE RETIREMENT SYSTEMSchedule of Changes in the County's Net Pension Liability and Related RatiosLast Three Fiscal Years202320222021Service costInterestS123,425S125,840S131,950182,780173,960Differences between expected and actual experienceBenefit payments (including refunds of employee contributions)1.290(258,000)(950)725(219,960)Net change in total pension liability67,20575,690Total pension liability, beginning2,085,7151,923,350Total pension liability, endingPlan fiduciary net positionContributions-employeeContributions-employerNet investment incomeBenefit payments (including refunds of employee contributions)Administrative expensesNet change in plan fiduciary net positionS32,740S36,44098,970102,63091,75019,860(23,510)(66,300)(42,980)(52,330)(3,590)(3,310)(3,040)82,500Plan fiduciary net position, beginningPlan fiduciary net position, ending1,231,9001,031,6801,067,720Net pension liability, endingS921,020Plan fiduciary net position as a percentage of total pension liabilityCovered payroll%55.15 %53.12 %S499,810Net pension liability as a percentage of covered payroll205.09 %196.86 %%

A pension is a fund that receives contributions from an employee while they are still working and…

Bluff County's schedule of changes in net pension liability and related ratios is shown below. (Deductions minus sign. Do not round Intermediate calculations. Round percentage answers to 2 decimal places and other answers to nearest whole dollar.) Required Compute the missing amounts.

Bluff County's schedule of changes in net pension liability and related ratios is shown below. (Deductions minus sign. Do not round Intermediate calculations. Round percentage answers to 2 decimal places and other answers to nearest whole dollar.) Required Compute the missing amounts.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bluff County's schedule of changes in net pension liability and related ratios is shown below. (Deductions should be indicated by a minus sign. Do not round intermediate calculations. Round percentage answers to 2 decimal places and other answers to nearest whole dollar.) Required Compute the missing amounts. Total pension liability Service cost Interest BLUFF COUNTY EMPLOYEE RETIREMENT SYSTEM Schedule of Changes in the County's Net Pension Liability and Related Ratios Last Three Fiscal Years 2023 Differences between expected and actual experience Benefit payments (including refunds of employee contributions) Net change in total pension liability Total pension liability, beginning Total pension liability, ending Plan fiduciary net position Contributions employee Contributions-employer Net investment income Benefit payments (including refunds of employee contributions) Administrative expenses Net change in plan fiduciary net position 2022 2021 $ 123,345 $ 125,680 $ 130,350 182,700…
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