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Please note that a new version of the GASB 68 report and Excel tables is now available.  These enhanced reports include the June 30, 2016, Net Pension Liability so that employers can use the data for the calculation of their pension expense.  The enhanced data is included in Schedule B of both the audited report and Excel Tables.

A brief example of how to use this information is included in both the CERS and KERS Excel workbooks.

KRS recommends that each employer review the GASB 68 audited report and Excel tables with its external auditor to ensure that it has met all the requirements of the statement, and to ensure that the required calculations have been performed correctly and accurately.

KRS’ actuary, Cavanaugh Macdonald, calculated each employers proportionate share of the KERS and CERS plan’s Net Pension Liability (NPL) and Pension Expense (PE) and KRS provided this information to its participating employers in an annual report.

​In order for practitioners to implement the GASB 68 reporting, they will need the split of employer contributions between the Pension and Insurance components. Those splits are listed below:​​​​​​​​​​​

Fiscal Year 2016 Pension and Insurance Components for GASB 68 Reporting
SystemPensionInsuranceTotal
KERS30.84%7.93%38.77%
KERS Hazardous16.37%9.97%26.34%
CERS12.42%4.64%17.06%
CERS Hazardous20.26%12.69%32.95%
SPRS53.9%21.86%75.76%

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