2022 2021 2020 2019 2018 2017 2016 2015
Proportion of the net pension liability $ 22,178 $ 24,786 $ 22,159 $ 22,617 $ 40,538 $ 68,926 $ 63,956 $ 64,987
State’s proportionate share of collective net pension liability 23,414 26,067 24,011 16,827 32,308 6,496 6,503 7,374
Total $ 45,592 $ 50,853 $ 46,170 $ 39,444 $ 72,846 $ 75,422 $ 70,459 $ 72,361
Proportion of the net pension liability 0.16% 0.17% 0.16% 0.16% 0.14% 0.22% 0.23% 0.30%
Covered payroll $ 13,060 $ 12,222 $ 11,429 $ 10,894 $ 11,832 $ 11,164 $ 12,965 $ 15,636
Proportionate share of the net pension liability as a share of covered payroll 169.81% 202.80% 193.88% 207.61% 342.61% 617.40% 493.30% 415.62%
Plan fiduciary net position as a percentage of total pension liability 65.59% 58.27% 58.10% 59.30% 39.83% 35.22% 42.49% 45.59%
Note: This table represents data that is one year in arrears.
Changes in assumptions: For fiscal year 2021, the assumed long-term investment rate of return was changed from 7.50 percent to 7.10 percent and the price inflation assumption changed from 3.00 percent to 2.50 percent. The Municipal Bond Index Rate used for this purpose is the June average of the Bond Buyer General Obligation 20-year Municipal Bond Index. For fiscal year 2020, the assumed municipal bond index rate decreased from 3.89% to 3.50%. For fiscal year 2019, the KTRS plan discount increased from 4.49% to 7.50%.
92.