{ "document_id": 16531, "page": 61, "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": 1, "table_cell": 8, "text": 6 }, "build_ms": 5, "items": [ { "id": "p61.1", "order": 1, "type": "header", "bbox": { "l": 217.68, "t": 754.08, "r": 393.6, "b": 740.64 }, "text": "KENTUCKY STATE UNIVERSITY", "attrs": { "block_label": "header" }, "level": 2 }, { "id": "p61.2", "order": 2, "type": "header", "bbox": { "l": 216, "t": 722.4, "r": 395.52, "b": 695.52 }, "text": "NOTES TO FINANCIAL STATEMENTS\nJUNE 30, 2022", "attrs": { "block_label": "header" }, "level": 2 }, { "id": "p61.3", "order": 3, "type": "heading", "bbox": { "l": 69.6, "t": 680.64, "r": 372.24, "b": 667.68 }, "text": "NOTE 10 – DEFINED BENEFIT PENSION PLANS (CONTINUED)", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p61.4", "order": 4, "type": "text", "bbox": { "l": 68.88, "t": 652.08, "r": 541.68, "b": 596.16 }, "text": "These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class for the June 30, 2021 actuarial valuation, are summarized in the following table:" }, { "id": "p61.5", "order": 5, "type": "table", "bbox": { "l": 86.64, "t": 583.358015, "r": 526.32, "b": 409.92 }, "text": "", "attrs": { "block_label": "table", "n_rows": 3, "n_cols": 3, "integrity": { "cells_checked": 8, "cells_flagged": 0 } }, "children": [ { "id": "p61.5.1", "order": 6, "type": "table_cell", "bbox": { "l": 140.158822, "t": 567.6405159999999, "r": 184.492465, "b": 553.6966669999999 }, "text": "Asset Class", "attrs": { "row": 0, "col": 0, "rowspan": 2, "colspan": 1, "bbox_refit": true, "column_header": true, "header_source": "heuristic" } }, { "id": "p61.5.2", "order": 7, "type": "table_cell", "bbox": { "l": 299.997099, "t": 583.358015, "r": 325.278418, "b": 569.414166 }, "text": "Target", "attrs": { "row": 0, "col": 1, "rowspan": 1, "colspan": 1, "bbox_refit": true, "column_header": true, "header_source": "heuristic" } }, { "id": "p61.5.3", "order": 8, "type": "table_cell", "bbox": { "l": 414.839439, "t": 583.358015, "r": 495.323175, "b": 569.414166 }, "text": "Long-Term Nominal", "attrs": { "row": 0, "col": 2, "rowspan": 1, "colspan": 1, "bbox_refit": true, "column_header": true, "header_source": "heuristic" } }, { "id": "p61.5.4", "order": 9, "type": "table_cell", "bbox": { "l": 289.558661, "t": 567.6405159999999, "r": 328.695384, "b": 553.6966669999999 }, "text": "Allocation", "attrs": { "row": 1, "col": 0, "rowspan": 1, "colspan": 1, "bbox_refit": true } }, { "id": "p61.5.5", "order": 10, "type": "table_cell", "bbox": { "l": 426.599041, "t": 567.6405159999999, "r": 483.91128, "b": 553.6966669999999 }, "text": "Rate of Return", "attrs": { "row": 1, "col": 1, "rowspan": 1, "colspan": 1, "bbox_refit": true } }, { "id": "p61.5.6", "order": 11, "type": "table_cell", "bbox": { "l": 91.200456, "t": 551.800085, "r": 191.604191, "b": 411.97224 }, "text": "U.S. Equity\nInternational Equity\nEmerging Markets Equity\nFixed Income\nAdditional Categories\nReal Estate\nPrivate Equity\nCash\nTotal", "attrs": { "row": 2, "col": 0, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } }, { "id": "p61.5.7", "order": 12, "type": "table_cell", "bbox": { "l": 342.369628, "t": 551.800085, "r": 370.217439, "b": 411.97224 }, "text": "40.00 %\n16.50\n5.50\n15.00\n7.00\n7.00\n7.00\n2.00\n100.00 %", "attrs": { "row": 2, "col": 1, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } }, { "id": "p61.5.8", "order": 13, "type": "table_cell", "bbox": { "l": 489.874433, "t": 551.800085, "r": 512.899796, "b": 427.69679 }, "text": "4.20 %\n5.30\n5.40\n(0.10)\n1.70\n4.00\n6.90\n(0.30)", "attrs": { "row": 2, "col": 2, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } } ] }, { "id": "p61.6", "order": 14, "type": "text", "bbox": { "l": 78.48, "t": 394.56, "r": 530.88, "b": 381.36 }, "text": "Additional categories include hedge funds, high-yield, non-U.S. developed bonds, and private credit strategies." }, { "id": "p61.7", "order": 15, "type": "text", "bbox": { "l": 68.88, "t": 367.44, "r": 541.68, "b": 338.88 }, "text": "Changes in Assumptions and Benefit Terms Since Prior Measurement Date – There were no changes in assumptions or benefit terms as of June 30, 2021, from the June 30, 2020 measurement date." }, { "id": "p61.8", "order": 16, "type": "text", "bbox": { "l": 68.4, "t": 325.44, "r": 541.92, "b": 282.96 }, "text": "Changes Since Measurement Date - There were no changes between the measurement date of the collective net pension liability and the University reporting date that are expected to have a significant effect on the University's proportionate share of the collective net pension liability." }, { "id": "p61.9", "order": 17, "type": "text", "bbox": { "l": 68.4, "t": 269.28, "r": 542.4, "b": 156.24 }, "text": "Discount rate - The discount rate used to measure the total pension liability at June 30, 2020, was 7.10%. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rates and the Employer contributions will be made at actuarially determined contribution rates, adjusted by 95% for all fiscal years in the future. Based on those assumptions, at the June 30, 2021 measurement date, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability." }, { "id": "p61.10", "order": 18, "type": "text", "bbox": { "l": 68.4, "t": 144.24, "r": 541.68, "b": 73.2 }, "text": "Sensitivity of the University's proportionate share of the net pension liability to changes in the discount rate- The following table presents the net pension liability of the University as of June 30, 2022, calculated using the discount rate of 7.10%, as well as what the University's net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (6.10%) or 1-percentage-point higher (8.10%) than the current rate." }, { "id": "p61.11", "order": 19, "type": "footer", "bbox": { "l": 298.08, "t": 48.24, "r": 312.24, "b": 36.96 }, "text": "58.", "attrs": { "block_label": "number" } } ], "excluded_furniture": { "first": [], "last": [] } }