Page 74 - BAA CAFR 2017

BIRMINGHAM AIRPORT AUTHORITY
REQUIRED SUPPLEMENTARY INFORMATION (Unaudited)
Last 10 Fiscal Years (1)

Schedules of Changes in the Net Pension Liability and Related Ratios – Pension Plan
2017 2016 2015
Total Pension Liability

Service Cost $ 61,202,895 $ 43,377,051 $ 36,945,277
Interest 81,787,344 80,457,568 80,340,821
Change of benefit terms - (337,185) -
Differences Between Expected and
Actual Experience (31,185,752) 19,757,884 11,335,035
Changes of Assumptions (304,984,286) 382,927,078 89,619,076
Benefit Payments, including refunds and
Employee Contributions (83,864,528) (78,753,617) (76,439,094)

Net Change in Total Pension Liability (277,044,327) 447,428,779 141,801,115

Total Pension Liability ‑ Beginning $ 2,022,255,368 $ 1,574,826,589 $ 1,433,025,474

Total Pension Liability ‑ Ending (a) $ 1,745,211,041 $ 2,022,255,368 $ 1,574,826,589

Plan Fiduciary Net Position
Contributions ‑ Employer $ 16,554,808 $ 16,370,100 $ 14,464,552
Contributions ‑ Employee 14,030,922 13,843,088 12,227,545
Net Investment Income 109,852,441 4,081,529 43,686,697
Benefit Payments, Including Refunds of
Employee Contributions (83,864,528) (78,753,617) (76,439,094)
Administrative Expense (284,778) (266,304) (178,807)

Net Change in Plan Fiduciary Net Position $ 56,288,865 $ (44,725,204) $ (6,239,107)

Plan Fiduciary Net Position ‑ Beginning 981,796,080 1,026,521,284 1,032,760,391

Plan Fiduciary Net Position ‑ Ending (b) $ 1,038,084,945 $ 981,796,080 $ 1,026,521,284

Net Pension Liability ‑ Ending (a)‑(b) $ 707,126,096 $ 1,040,459,288 $ 548,305,305

Plan Fiduciary Net Position as a Percentage
of the Total Pension Liability 59.48% 48.55% 65.18%
Covered Employee Payroll $ 200,441,743 $ 197,758,400 $ 188,116,077
Net Pension Liability as a Percentage of
Covered Employee Payroll 352.78% 526.13% 241.47%

(1) Information in this schedule is presented for the year in which the information is available. Information will
be added each year until a full 10-year trend is presented.