{ "document_id": 16531, "page": 60, "width_pt": 612, "height_pt": 792, "rotation": 0, "pipeline_version": "paddleocr-vl-1.6+paul-48", "engine": "paddleocr_vl", "source_run_id": 16642, "item_count": 19, "counts_by_type": { "footer": 1, "header": 2, "heading": 1, "table": 2, "table_cell": 8, "text": 5 }, "build_ms": 4, "items": [ { "id": "p60.1", "order": 1, "type": "header", "bbox": { "l": 217.68, "t": 754.32, "r": 393.6, "b": 740.16 }, "text": "KENTUCKY STATE UNIVERSITY", "attrs": { "block_label": "header" }, "level": 2 }, { "id": "p60.2", "order": 2, "type": "header", "bbox": { "l": 216.24, "t": 722.64, "r": 395.28, "b": 695.76 }, "text": "NOTES TO FINANCIAL STATEMENTS\nJUNE 30, 2022", "attrs": { "block_label": "header" }, "level": 2 }, { "id": "p60.3", "order": 3, "type": "heading", "bbox": { "l": 69.6, "t": 680.88, "r": 372.24, "b": 667.44 }, "text": "NOTE 10 – DEFINED BENEFIT PENSION PLANS (CONTINUED)", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p60.4", "order": 4, "type": "text", "bbox": { "l": 68.64, "t": 652.56, "r": 541.68, "b": 582.96 }, "text": "At June 30, 2022, the University reported $1,865,254 as deferred outflows of resources related to pensions resulting from University contributions subsequent to the measurement date that will be recognized as a reduction of the net pension liability in the following fiscal year. Net deferred outflow (inflows) of resources at June 30, 2022, related to pensions will be recognized in pension expense as follows:" }, { "id": "p60.5", "order": 5, "type": "table", "bbox": { "l": 200.88, "t": 568.08, "r": 468.24, "b": 487.68 }, "text": "", "attrs": { "block_label": "table", "n_rows": 2, "n_cols": 3, "integrity": { "cells_checked": 3, "cells_flagged": 0 } }, "children": [ { "id": "p60.5.1", "order": 6, "type": "table_cell", "bbox": { "l": 212.0407, "t": 567.622205, "r": 235.696902, "b": 506.005184 }, "text": "2023\n2024\n2025\n2026", "attrs": { "row": 0, "col": 0, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } }, { "id": "p60.5.2", "order": 7, "type": "table_cell", "bbox": { "l": 290, "t": 568.08, "r": 379.12, "b": 552 }, "text": "$", "attrs": { "row": 0, "col": 1, "rowspan": 1, "colspan": 1 } }, { "id": "p60.5.3", "order": 8, "type": "table_cell", "bbox": { "l": 414.101629, "t": 567.622205, "r": 466.91519, "b": 506.005184 }, "text": "(1,656,344)\n498,383\n(64,022)\n(1,388,624)", "attrs": { "row": 0, "col": 2, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } }, { "id": "p60.5.4", "order": 9, "type": "table_cell", "bbox": { "l": 200.88, "t": 503.76, "r": 290, "b": 487.68 }, "text": "", "attrs": { "row": 1, "col": 0, "rowspan": 1, "colspan": 1 } }, { "id": "p60.5.5", "order": 10, "type": "table_cell", "bbox": { "l": 290, "t": 503.76, "r": 379.12, "b": 487.68 }, "text": "$", "attrs": { "row": 1, "col": 1, "rowspan": 1, "colspan": 1 } }, { "id": "p60.5.6", "order": 11, "type": "table_cell", "bbox": { "l": 414.190033, "t": 504.221149, "r": 466.898377, "b": 490.154928 }, "text": "(2,610,607)", "attrs": { "row": 1, "col": 2, "rowspan": 1, "colspan": 1, "bbox_refit": true } } ] }, { "id": "p60.6", "order": 12, "type": "text", "bbox": { "l": 69.84, "t": 468.96, "r": 541.44, "b": 427.2 }, "text": "Actuarial assumptions - The total pension liability was determined by actuarial valuation as of June 30, 2021, using the following actuarial assumptions, applied to all periods included in the measurement:" }, { "id": "p60.7", "order": 13, "type": "table", "bbox": { "l": 69.36, "t": 413.794235, "r": 517.68, "b": 304.8 }, "text": "", "attrs": { "block_label": "table", "n_rows": 1, "n_cols": 2, "integrity": { "cells_checked": 2, "cells_flagged": 0 } }, "children": [ { "id": "p60.7.1", "order": 14, "type": "table_cell", "bbox": { "l": 74.0392, "t": 413.794235, "r": 212.52437, "b": 305.50986 }, "text": "Valuation date\nInflation\nSalary increases\nInvestment rate of return\nMunicipal bond index rate\nSingle equivalent interest rate\nPost-retirement benefit increases", "attrs": { "row": 0, "col": 0, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } }, { "id": "p60.7.2", "order": 15, "type": "table_cell", "bbox": { "l": 237.928662, "t": 413.794235, "r": 514.294138, "b": 305.50986 }, "text": "June 30, 2020\n2.50%\n3.00% - 7.50%, average, including inflation\n7.10%, net of pension plan investment expense, including inflation\n2.13%\n7.50%\n1.50% annually", "attrs": { "row": 0, "col": 1, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } } ] }, { "id": "p60.8", "order": 16, "type": "text", "bbox": { "l": 68.64, "t": 297.6, "r": 541.68, "b": 227.04 }, "text": "Mortality rates were based on the Pub2010 (Teachers Benefit-Weighted) Mortality Table projected generationally with MP-2020 with various set-forwards, set-backs, and adjustments for each of the groups, service, retirees, contingent annuitants, disabled retirees, and active members. The actuarial assumptions used were based on the results of an actuarial experience study for the 5-year period ending June 30, 2020, adopted by the board on September 20, 2021." }, { "id": "p60.9", "order": 17, "type": "text", "bbox": { "l": 68.88, "t": 213.84, "r": 541.44, "b": 172.56 }, "text": "The actuarial assumptions used in the June 30, 2021 valuation were based on the results of an actuarial experience study for the period July 1, 2010 - June 30, 2015 adopted by the Board on November 19, 2016." }, { "id": "p60.10", "order": 18, "type": "text", "bbox": { "l": 68.88, "t": 157.92, "r": 541.68, "b": 102.24 }, "text": "The long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class." }, { "id": "p60.11", "order": 19, "type": "footer", "bbox": { "l": 297.84, "t": 48.24, "r": 312.48, "b": 36.48 }, "text": "57.", "attrs": { "block_label": "number" } } ], "excluded_furniture": { "first": [], "last": [] } }