KENTUCKY STATE UNIVERSITY SCHEDULE OF THE UNIVERSITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY KENTUCKY EMPLOYEES' RETIREMENT SYSTEM JUNE 30, 2023 (AMOUNTS IN THOUSANDS) (SEE INDEPENDENT AUDITORS' REPORT)

Nonhazardous 2023 2022 2021 2020 2019 2018 2017 2016 2015

Proportion of the Net Pension Liability $ 31,780 $ 32,282 $ 45,185 $ 42,075 $ 30,999 $ 32,618 $ 29,146 $ 29,408 $ 28,555

Proportionate Share of the Net Pension Liability 0.23 % 0.24 % 0.32 % 0.30 % 0.23 % 0.24 % 0.26 % 0.29 % 0.32 %

Covered Payroll $ 3,225 $ 4,015 $ 4,548 $ 4,358 $ 3,583 $ 3,888 $ 4,321 $ 5,390 $ 5,453

Proportionate Share of the Net Pension Liability as a Share of its Covered Payroll 985.43% 804.03% 993.51% 965.47% 865.17% 838.94% 674.52% 545.60% 523.66%

Plan Fiduciary Net Position as a Percentage of Total Pension Liability 18.51 % 18.48 % 14.01 % 13.66 % 12.84 % 13.30 % 14.80 % 18.83 % 22.32 %

Hazardous 2023 2022 2021 2020 2019 2018

Proportion of the Net Pension Liability $ 574 $ 454 $ 340 $ 393 $ 939 $ 237

Proportionate Share of the Net Pension Liability 0.08 % 0.11 % 0.06 % 0.07 % 0.19 % 0.05 %

Covered Payroll $ 205 $ 179 $ 106 $ 114 $ 309 $ 79

Proportionate Share of the Net Pension Liability as a Share of its Covered Payroll 280.00% 253.63% 320.75% 344.74% 303.88% 300.00%

Plan Fiduciary Net Position as a Percentage of Total Pension Liability 61.51 % 66.03 % 55.18 % 55.49 % 56.10 % 54.80 %

Note: This table represents data that is one year in arrears. These are 10-year schedules. However, the information in this schedule is not required to be presented retroactively. Years will be added to this schedule in future fiscal years until 10 years of information is available.

Changes in Assumptions

House Bill 1 passed during the 2022 legislative session and included a provision that provided an approximate 8% across-the-board salary increase effective July 1, 2022, for eligible State employees. While this salary increase may produce an actuarial loss with respect to the liability attributable to Tier 1 and Tier 2 active members (i.e. a higher total pension liability than expected based on current actuarial assumptions), there was not sufficient information available at the time the roll-forward Total Pension Liability was calculated to make a reasonable adjustment to reflect these anticipated salary increases.

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