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Wisconsin Health and Educational Facilities Authority
Notes to Financial Statements
June 30, 2020 and 2019

NOTE 5 DEFINED BENEFIT PENSION PLAN (continued)

Contributions (continued)

Contribution rates as of June 30, 2020 are:

Employee Category Employee Employer
General (Including Teachers) 6.75% 6.75%
Protective with Social Security 6.75% 11.65%
Protective without Social
Security 6.75% 16.25%

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions
At June 30, 2020, the Authority reported an asset of $230,732 for its proportionate share
of the Net Pension Asset. The Net pension Asset was measured as of December 31,
2019, and the Total Pension Liability used to calculate the Net Pension Asset was
determined by an actuarial valuation as of December 31, 2018 rolled forward to
December 31, 2019. No material changes in assumptions or benefit terms occurred
between the actuarial valuation date and the measurement date. The Authority’s
proportion of the net pension asset was based on the Authority’s share of contributions
to the pension plan relative to the contributions of all participating employers. At
December 31, 2019 the Authority’s proportion was 0.00226149%, which was an
increase of 0.00000896% from its proportion measured as of December 31, 2018.

For the year ended June 30, 2020 the Authority recognized pension expense of
($130,145).

At June 30, 2020, the Authority reported deferred outflows of resources and deferred
inflows of resources related to pensions from the following sources:

Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between projected and actual experience $ 138,420 $ 69,270
Net differences between projected and actual earnings
on pension plan investments - 149,076
Changes in assumptions 5,682 -
Changes in proportion and differences between employer
contributions and proportionate share of contributions 75 934
Employer contributions subsequent to the
measurement date 12,403 -
Total $ 156,580 $ 219,280

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