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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2019 <br />91 <br /> <br /> <br />NOTE 13 - RETIREMENT PLAN - Continued <br /> <br />Retiree Health Insurance Subsidy (HIS) Program - Continued <br /> <br />HIS Plan Fiduciary Net Position: Detailed information regarding the HIS Program’s fiduciary net <br />position is available in the separately issued FRS Pension Plan and Other State-Administered Systems <br />Comprehensive Annual Financial Report. This report is available by writing to the State of Florida, <br />Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, Florida <br />32315-9000 or by email at rep@dms.myflorida.com, or by telephone toll free at (844) 377-1888 or (850) <br />907-6500. <br /> <br />Total Pension Liability - FRS Pension and HIS Program Combined <br /> <br />At September 30, 2019, the Division of Retirement calculated the County’s total liability of $147,689,929 <br />for its proportionate share of the net pension liability. The net pension liability was measured as of June <br />30, 2019, and the total pension liability used to calculate the net pension liability was determined by an <br />actuarial valuation as of July 1, 2019. At June 30, 2019, the County’s total proportional share was <br />0.5928%. This was an increase of 0.0070% from its proportionate share measured as of June 30, 2018. <br /> <br />For the year ended September 30, 2019, the County recognized pension expense of $22,833,086. In <br />addition, the County reported deferred outflows of resources and deferred inflows of resources related to <br />the pension and HIS program from the following sources: <br /> <br /> <br /> Deferred Outflows Deferred Inflows <br />Description of Resources of Resources <br />Differences between expected and actual experience $ 7,478,339 $ 108,063 <br />Changes in assumptions 34,100,567 2,220,745 <br />Net difference between projected and actual <br /> earnings on pension plan investments 17,533 6,667,722 <br />Changes in proportion and differences between <br /> County contributions and proportionate share of <br /> contributions 5,822,526 1,774,675 <br />County contributions subsequent to the measure- <br /> ment date 3,304,383 - <br />Total $ 50,723,348 $ 10,771,205 <br /> <br /> <br /> <br />