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determined. Based on these assumptions, the pension plan's fiduciary net position was <br />projected to be available to make all projected future benefit payments of the current plan <br />members. Therefore, the long-term expected rate of return on pension plan investments <br />was applied to all periods of projected benefit payments to determine the total pension <br />liability. <br />Sensitivity of the Bureau's proportionate share of the net pension asset to changes in the <br />discount rate. The following presents the Bureau's proportionate share of the net pension <br />asset calculated using the discount rate of 7.25 percent, as well as what the Bureau's <br />proportionate share of the net pension asset or net pension liability would be if it were <br />calculated using a discount rate that is one percentage point lower (6.25 percent) or one <br />percentage point higher (8.25 percent) than the current rate: <br />1% Discount 1% <br />Decrease Rate Increase <br />(6.2551.) (7.255/6) (8.25%) <br />Bureau's proportionate share of <br />the net pension liability (asset) $ 1,032,645 $ 435,078 $ (64,053) <br />Pension plan fiduciary net position. Detailed information about the pension plan's <br />fiduciary net position is available in the separately issued Comprehensive Annual <br />Financial Report (CAFE) for the State of North Carolina. <br />A. NC401(k) Annuity Program <br />The Bureau also offers a NC401(k) tax deferred annuity program. Eligible employees can <br />contribute to the plan from their salary. The Bureau currently contributes 5% of the <br />employees' salary. The amount paid to the retirement program by the Bureau during the <br />year ended June 30, 2017 was $49,397. <br />NOTES - LEASES <br />The Bureau leases its office space, computers, servers, a vehicle and a copier under <br />operating leases. Lease expense for the year ended June 30, 2017 was $169,383. <br />-Confinued- <br />28 Attachment number 1 In <br />1-2 Page 213 <br />