KENTUCKY STATE UNIVERSITY NOTES TO FINANCIAL STATEMENTS JUNE 30, 2024
NOTE 10 OTHER POSTEMPLOYMENT BENEFITS PLANS (OPEB) (CONTINUED)
Kentucky Teachers' Retirement System OPEB Plan (Continued)
Life Insurance Plan (Continued)
OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEBs (Continued)
For the year ended June 30, 2024, the University recognized actuarially determined OPEB expense of $5,000. At June 30, 2024, the University reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Deferred Outflows of ResourcesDeferred Inflows of Resources
Net Difference Between Projected and Actual
Earnings on OPEB Plan Investments$ 17,000$ -
Net Changes in Proportion and Differences Between Employer Contributions and Proportionate Share of Contributions4,00015,000
Change in Assumptions-11,000
Differences Between Expected and Actual Experience1,00011,000
University's Contributions Subsequent to the Measurement Date10,267-
Total$ 32,267$ 37,000
Of the total amount reported as deferred outflows of resources related to OPEB, $10,267 resulting from University contributions subsequent to the measurement date and before the end of the fiscal year will be included as OPEB expense in the year ended June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in the University's OPEB expense as follows:
Year Ending June 30, Amount
2025 $ (5,000)
2026 (4,000)
2027 5,000
2028 (9,000)
2029 (1,000)
Thereafter (1,000)
Total $ (15,000)
(64)