Non-hazardous 2020 2019 2018
KSU's proportion of the net OPEB liability $ 6,622 $ 5,398 $ 6,178
KSU's proportionate share of the net OPEB liability 0.30% 0.23% 0.24%
KSU's covered payroll $ 4,358 $ 3,583 $ 3,888
KSU's proportionate share of the net OPEB liability as a share of its covered payroll 151.95% 150.66% 158.90%
Plan fiduciary net position as a percentage of total OPEB liability 30.92% 27.32% 24.40%
Hazardous 2020 2019 2018
KSU's proportion of the net OPEB liability (19) (62) $ 3
KSU's proportionate share of the net OPEB liability 0.07% 0.19% 0.05%
KSU's covered payroll $ 39 $ 61 $ 79
KSU's proportionate share of the net OPEB liability as a share of its covered payroll (48.72)% (101.64)% 3.80%
Plan fiduciary net position as a percentage of total OPEB liability 105.29 % 106.83% 98.80%
Note: This table represents data that is one year in arrears.
Changes in assumptions: For fiscal year 2020, the discount rate was changed from 5.86% to 5.73% for non-hazardous and from 5.88% to 5.66% for hazardous. In addition, the KERS Board of Trustees adopted new actuarial assumptions based on an actuarial experience study for the period ending June 30, 2018. Key assumptions include replacing the base retiree mortality tables were replaced with a KERS-specific mortality table developed using the actual mortality experience of non-disabled retirees in KERS. Mortality tables for disable retirees and active members were updated with Public Retirement Mortality tables. Termination rates and rates of disability incidence were increased. Retirement rates were decreased slightly for members with participation date prior to July 1, 2003. For members with participation date on or after July 1, 2003, retirement rates were set equal to 80% of the retirement rates applicable for the pre-July 1, 2003 participants for ages below 65. For fiscal year 2019, the discount rate used to measure the total Non-hazardous OPEB liability was 5.86%, which was reduced from the 6.90% discount rate used in the prior year. The discount rate used to measure the total Hazardous OPEB liability was 5.88%, which was increased from the 5.87% discount rate used in the prior year. For fiscal year 2018, the assumed investment rate of return was changed from 7.50% to 6.25%. The inflation assumption was changed from 3.25% to 2.30%. The payroll growth assumption was changed from 4.00% to 0.00%.
Changes in benefit terms: However, during the 2018 legislative session, House Bill 185 was enacted, which updated the benefit provisions for active members who die in the line of duty. The system shall now pay 100% of the insurance premium for spouses and children of all active members who die in the line of duty. The total OPEB liability as of June 30, 2018, is determined using these updated benefit provisions.
70.