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COUNTY OF ADAMS, PENNSYLVANIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2025
Changes in the County's net pension liability for the plan for the December 31, 2024 measurement period were as follows:
| Increase (Decrease) |
| Total Pension Liability (a) | Plan Fiduciary Net Position (b) | Net Pension Liability/(Asset) (a) - (b) |
|---|
| Balances at 12/31/2023 | $ 109,117,666 | $ 116,863,138 | $ (7,745,472) |
|---|
| Changes for the year: | | | |
|---|
| Service cost | 4,155,140 | - | 4,155,140 |
|---|
| Interest | 5,815,865 | - | 5,815,865 |
|---|
| Changes of benefits | 1,103,187 | - | 1,103,187 |
|---|
| Differences between expected and actual experience | (2,294,135) | - | (2,294,135) |
|---|
| Contributions - employer | - | 2,029,092 | (2,029,092) |
|---|
| Contributions - member | - | 1,924,157 | (1,924,157) |
|---|
| Net investment income | - | 11,127,899 | (11,127,899) |
|---|
| Benefit payments, including refunds of employee contributions | (4,775,483) | (4,775,483) | - |
|---|
| Administrative expense | - | (339,083) | 339,083 |
|---|
| Net changes | 4,004,574 | 9,966,582 | (5,962,008) |
|---|
| Balances at 12/31/2024 | $ 113,122,240 | $ 126,829,720 | $ (13,707,480) |
|---|
Sensitivity of the pension liability to changes in the discount rate. The following presents the net pension liability of the County, calculated using the discount rate of 5.50%, as well as what the County's net pension liability/(asset) would be if it were calculated using a discount rate that is 1-percentage-point lower (4.50%) or 1-percentage-point higher (6.50%) than the current rate:
County's net pension liability/(asset)
| Current |
| 1% Decrease
(4.50%) | Discount Rate
(5.50%) | 1% Increase
(6.50%) |
|---|
| $(3,909,386) | $(13,707,480) | $(21,859,868) |
Pension plan fiduciary net position. Detailed information about the pension plan's fiduciary net position is available in the separately issued PMRS financial report.