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Sensitivity of the Total Pension Liability to changes in the Discount Rate—The following chart shows the Total Pension Liability of the Town as of the December 31, 2024 measurement date, calculated using the discount rate of 4.28%, as well as what the Town's total pension liability would be if it were calculated using a discount rate that is 1-percentage point lower (3.28%) or 1-percentage point higher (5.28%) than the current rate: 1% Current 1% Decrease Discount Rate Increase 3.28% 4.28% 5.28% Total pension liability $ 7,329,279 $ 6,489,644 $ 5,797,125 Pension Expense—For the fiscal year ended December 31, 2025, the Town recognized a pension expense of $343,684. The following is a breakout of the Pension Expense: Service Cost $ 166,347 Interest on Total Pension Liability 270,156 Changes of Assumptions or Other Inputs (103,943) Difference in Expected & Actual 1,048 Administrative Costs 10,076 Pension Expense $ 343,684 Deferred Outflows and Inflows of Resources Related to Pensions—At December 31, 2025 the Town reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows Inflows of Resources of Resources Differences between expected and actual experience $ 119,295 $ 91,010 Changes of assumptions or other inputs $ 542,723 $ 1,138,165 Benefit payments & administrative expenses subsequent to the measurement date 409,800 - Total $ 1,071,818 $ 1,229,175 The amount reported as deferred outflows of resources related to pensions resulting from transactions subsequent to the measurement date will be recognized as a reduction of the total pension liability in the year ended December 31, 2026. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year Ending December 31, 2026 $ (102,895) 2027 (219,649) 2028 (244,614) 2029 - Thereafter - - 100 -