RETIREMENT BENEFITS (CONTINUED) NOTE 8
At June 30, 2024, the MDTA reported a liability of $277,371 for its proportionate share of the State of Maryland’s net pension liability. The net pension liability was measured as of June 30, 2023 (the Maryland State Retirement and Pension System’s measurement date), and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The MDTA’s proportion of the State of Maryland’s net pension liability was based on a projection of the MDTA’s long-term share of contributions to the pension plan relative to the projected contributions of all participating members, actuarially determined. The MDTA’s net pension liability increased from the prior year by $35,940. The MDTA’s proportion of net pension liability is 1.29%. The MDTA reported deferred outflow of resources and deferred inflow of resources related to pensions from the following sources:
Deferred Outflow of Resources $ 16,596
Deferred Inflow of Resources $ 958
Change in assumptions Net difference between projected and actual earnings on pension plan investments Actual pension versus expected experience change in proportional share Net difference in Investment Earnings Difference between Expected and Actual Experience MDTA's 2024 contribution subsequent to the measurement date TOTAL
4,892
—
399 69,621 9,749
823 48,631 12,254
35,057 $ 136,314
— $ 62,666
Year Ended June 30, 2025 2026 2027 2028 2029 Total
$ 6,210 2,383 21,272 7,755 970 $ 38,590
Annual Comprehensive Financial Report For Fiscal Year Ended June 30, 2024 | 71
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