2018 2017 2016 2015
KSU's proportion of the net pension liability $ 40,538 $ 68,926 $ 63,956 $ 64,987
KSU's proportionate share of the net pension liability 0.14% 0.22% 0.23% 0.30%
State's proportionate share of the collective net pension liability $ 32,308 $ 6,496 $ 6,503 $ 7,374
KSU's covered payroll $ 17,779 $ 16,961 $ 19,076 $ 21,451
KSU's proportionate share of the net pension liability as a share of its covered payroll 228.01% 406.38% 335.27% 302.96%
Plan fiduciary net position as a percentage of total pension liability 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 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.
62.