RVCC 2019 NECHE Self-Study

At June 30, 2018, CCSNH reported deferred outflows of resources and deferred inflows of resources
related to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Net difference between projected and actual investment
earnings on OPEB plan investments $ - $ 17,239
Changes in proportion - 100,362
Contributions subsequent to the measurement date 456,916 -
Balances as of June 30, 2018 $ 456,916 $ 117,601
Amounts reported as deferred outflows related to pensions resulting from CCSNH contributions
subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in
the year ending June 30, 2019. Other amounts reported as deferred outflows of resources and
deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:
Actuarial Assumptions
Year ending June 30,
2019 $ (74,513)
2020 (34,469)
2021 (4,310)
2022 (4,309)
$ (117,601)
The collective total OPEB liability was determined by a roll forward of the actuarial valuation as of
June 30, 2016, using the following actuarial assumptions, which apply to 2016 measurements:
Actuarial cost method
Amortization method
Remaining amortization period
funding
Investment rate of return
inflation Salary rate increase
Inflation
Healthcare cost trend rates
stipends Aging factors
stipends
Entry-age normal
Level percentage-of-payroll, closed
Not applicable, under statutory
7.25% net of investment expenses, include
5.60% average, including inflation
2.50% per year
not applicable, given the benefits are fixed
not applicable, given the benefits are fixed
Mortality rates were based on the RP-2014 employee generational mortality tables for males and
females, adjusted for mortality improvements using Scale MP-2015, based on the last experience
study.
The actuarial assumptions used in the June 30, 2016 valuation were based on the results of the
most recent actuarial experience study, which was for the period of July 1, 2010 – June 30, 2015.
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