2021 2020 2019 2018 2017 2016 2015
KSU's proportion of the net pension liability $ 24,786 $ 22,159 $ 22,617 $ 40,538 $ 68,926 $ 63,956 64,987
State's proportionate share of the collective net pension liability 26,067 24,011 16,827 32,308 6,496 6,503 7,374
Total $ 50,853 $ 46,170 $ 39,444 $ 72,846 $ 75,422 $ 70,459 72,361
KSU's proportionate share of the net pension liability 0.17% 0.16% 0.16% 0.14% 0.22% 0.23% 0.30%
KSU's covered payroll $ 23,652 $ 22,544 $ 19,083 $ 17,779 $ 16,961 $ 19,076 21,451
KSU's proportionate share of the net pension liability as a share of its covered payroll 104.79% 98.29% 118.52% 228.01% 406.38% 335.27% 302.96%
Plan fiduciary net position as a percentage of total pension liability 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 was lowered from 3.0 percent to 2.5 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%. For fiscal year 2018, the KTRS plan discount rate increased from 4.20 percent to 4.49 percent. For fiscal year 2017, the KTRS plan discount rate decreased from 4.88 percent to 4.20 percent. For fiscal year 2016, there was a decrease in the assumed investment rate of return from 7.75 percent to 7.50 percent; a decrease in the assumed rate of inflation from 3.50 percent to 3.25 percent; a decrease in the assumed rate of wage inflation from 1.00 percent to 0.75 percent and a decrease in the payroll growth assumption from 4.50 percent to 4.00 percent.
72.