Deferred Deferred
Net difference between projected and actual earnings on OPEB plan investments $ 1,000 $ -
Outflows of Inflows of
Resources Resources
Net changes in proportion and differences between employer contributions and proportionate share of contributions 8,000 -
Differences between expected and actual earnings on investments 21,000 -
University's contributions subsequent to the measurement date 8,000 -
$ 38,000 $ -
Of the total amount reported as deferred outflows of resources related to OPEB, $8,000 resulting from University contributions subsequent to the measurement date and before the end of the fiscal year will be included as a reduction of the collective net OPEB liability in the year ended June 30, 2021. 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:
2022 $ 13,000
2023 7,000
2024 3,000
2025 2,000
2026 3,000
Thereafter 2,000
$ 30,000
Actuarial Assumptions – The total OPEB liability in the June 30, 2020 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement:
| Investment rate of return | 7.50%, net of OPEB plan investment expense, including inflation |
|---|---|
| Projected salary increases | 3.50-7.20%, including inflation |
| Inflation rate | 3.00% |
| Real Wage Growth | 0.50% |
| Wage Inflation | 3.50% |
| Municipal Bond Index Rate | 3.50% |
| Discount Rate | 7.50% |
| Single Equivalent Interest Rate | 7.50%, net of OPEB plan investment expense, including price inflation |
58.