RVCC 2019 NECHE Self-Study

These and similar benefits for active employees and retirees are authorized by RSA 21-I: 30 and
provided through the Employee and Retiree Benefit Risk Management Fund which is the state’s
self-insurance internal service fund. The Plan funds the cost of medical and prescription drug
claims by charging actuarially developed working rates to State agencies for participating
employees, retirees, and eligible spouses. An additional major source of funding for retiree benefits
is from the NHRS medical subsidy payment described previously in this footnote. No assets are
accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No.
75. The State administers the plan. It does not issue a separate stand-alone financial report.
Contributions Required and Made
The State Legislature has indicated it currently plans to only partially fund (on a pay-as-you-go
basis) the ARC, an actuarially determined rate. CCSNH’s contributions to the State for the years
ended June 30, 2018 and 2017 were $1,465,752 and $1,328,959, respectively.
OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to OPEB
At June 30, 2018, CCSNH reported a liability of $110,714,000 for its proportionate share of the
State OPEB Plan liability. The OPEB liability was determined by an actuarial valuation as of
December 31, 2016 adjusted forward to a measurement date of June 30, 2017. The OPEB liability
was rolled forward from December 31, 2016 to June 30, 2017. CCSNH’s proportion of the OPEB
liability was based on a projection of CCSNH’s long-term share of contributions to the State relative
to the projected contributions of all participating employers as actuarially determined. At June 30,
2017, CCSNH’s proportion of the State OPEB Plan’s liability was 4.966020%.
For the year ended June 30, 2018, CCSNH recognized OPEB expense of $2,234,752.
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
Changes in assumptions $ - $ 32,456,000
Differences between expected and actual experience - 326,000
Changes in proportion 970,000 -
Differences between employer contributions and
proportionate share of contributions 1,098,248 -
Contributions subsequent to the measurement date 1,465,752 -
Balances as of June 30, 2018 $ 3,534,000 $ 32,782,000
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