KENTUCKY STATE UNIVERSITY SCHEDULE OF THE UNIVERSITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY KENTUCKY TEACHERS' RETIREMENT SYSTEM JUNE 30, 2024 (AMOUNTS IN THOUSANDS) (SEE INDEPENDENT AUDITORS' REPORT)

2024 2023 2022 2021 2020 2019 2018

University's Proportion of the Net Pension Liability $ 22,925 $ 23,214 $ 22,178 $ 24,786 $ 22,159 $ 22,617 $ 40,538

State's Proportionate Share of Collective Net Pension Liability 25,498 30,167 23,414 26,067 24,011 16,827 32,308

Total $ 48,423 $ 53,381 $ 45,592 $ 50,853 $ 46,170 $ 39,444 $ 72,846

Proportion of the Net Pension Liability 0.13 % 0.13 % 0.17 % 0.17 % 0.30 % 0.16 % 0.16 %

Covered Payroll $ 12,810 $ 11,744 $ 13,060 $ 12,222 $ 11,429 $ 10,894 $ 11,832

Proportionate Share of the Net Pension Liability as a Share of Covered Payroll 178.96% 197.67% 169.82% 202.80% 193.88% 207.61% 342.61%

Plan Fiduciary Net Position as a Percentage of Total Pension Liability 57.68% 78.46% 51.74 % 39.05 % 32.58 % 25.50 % 21.18 %

Note: This table represents data that is one year in arrears.

Changes in Assumptions and Benefit Terms

A new benefit tier was added for members joining the System on and after January 1, 2022.

There were no changes to assumptions as of the measurement date of June 30, 2023.