KENTUCKY STATE UNIVERSITY NOTES TO FINANCIAL STATEMENTS JUNE 30, 2023

NOTE 10 OTHER POSTEMPLOYMENT BENEFITS PLANS (OPEB) (CONTINUED)

Kentucky Employees Retirement System (KERS) OPEB Plan (Continued)

Deferred Outflows and Deferred Inflows (Continued) Deferred inflows and outflows as of the Measurement Date include:

Deferred Outflows of ResourcesDeferred Inflows of Resources
Nonhazardous:
Difference Between Expected and Actual Experience$ 142,473$ 468,359
Changes of Assumptions328,685387,943
Changes in Proportion and Differences Between Employer Contributions and Proportionate Share of Contributions486,999751,184
Difference Between Expected and Actual Investment Earnings on Plan Investments119,305-
Contributions Subsequent to the Measurement Date333,721-
Total$ 1,411,183$ 1,607,486
Hazardous:
Difference Between Expected and Actual Experience$ 10,757$ 35,546
Changes of Assumptions49,75341,390
Changes in Proportion and Differences Between Employer Contributions and Proportionate Share of Contributions17,42722,135
Difference Between Expected and Actual Investment Earnings on Plan Investments10,796-
Contributions Subsequent to the Measurement Date673-
Total$ 89,406$ 99,071

Deferred outflows of resources resulting from employer contributions subsequent to the measurement date of $334,394, which excludes the implicit subsidy reported of $116,726, will be recognized as a reduction of net OPEB expense in the year ending June 30, 2023.

The remainder of the deferred outflows and deferred inflows of resources are amortized over three to five years with remaining amortization as follows:

Year Ending June 30,NonhazardousHazardous
2024$ (202,044)$ (1,016)
2025(361,161)(129)
2026(61,334)(14,546)
202794,5155,353
Total$ (530,024)$ (10,338)

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