KENTUCKY STATE UNIVERSITY NOTES TO FINANCIAL STATEMENTS JUNE 30, 2024
NOTE 10 OTHER POSTEMPLOYMENT BENEFITS PLANS (OPEB) (CONTINUED)
Kentucky Employees Retirement System (KERS) OPEB Plan (Continued)
Nonhazardous
The following presents the University's allocated portion of the Nonhazardous net OPEB liability of the System, calculated using the discount rate of 5.94%, as well as what the University's allocated portion of the System's net OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (4.94%) or 1-percentage-point higher (6.94%) than the current rate for Nonhazardous:
1% Decrease (4.94)%Current Discount Rate (5.94%)1% Increase (6.94)%
The University's Net OPEB Liability - Nonhazardous$ 2,181,370$ 1,621,939$ 1,151,502
The following presents the University’s allocated portion of the Nonhazardous net OPEB liability of the System, calculated using the healthcare cost trend rate of percent, as well as what the University’s allocated portion of the System’s net OPEB liability would be if it were calculated using a healthcare cost trend rate that is 1-percentage-point lower or 1-percentage-point higher than the current rate for Nonhazardous:
The University's Net OPEB Liability - Nonhazardous
$ 1,188,993 $ 1,621,939
1% Decrease 1% Rate Increase
Current Healthcare
Hazardous
The following presents The University's allocated portion of the Hazardous net OPEB (asset) liability of the System, calculated using the discount rate of 5.94%, as well as what the University's allocated portion of the System's net OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (4.94%) or 1-percentage-point higher (6.94%) than the current rate for Hazardous:
1% Decrease (4.94)%Current Discount Rate (5.94%)1% Increase (6.94)%
The University's Net OPEB Asset - Hazardous$ (132,366)$ (176,652)$ (213,256)
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