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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)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions (continued)
$12,403 reported as deferred outflows related to pension resulting from the Authority’s
contributions subsequent to the measurement date will be recognized as a reduction of
the net pension liability (asset) in the year ended June 30, 2020.

Other amounts reported as deferred outflows of resources and deferred inflows of
resources related to pension will be recognized in pension expense as follows:

Net Deferred
Outflows/(Inflows)
Year Ended June 30, of Resources
2021 $ (22,481)
2022 (16,740)
2023 2,465
2024 (38,347)
2025 -
Thereafter -

Actuarial Assumptions
The Total Pension Liability in the December 31, 2019, actuarial valuation was
determined using the following actuarial assumptions, applied to all periods included in
the measurement:

Actuarial Valuation Date: December 31, 2018
Measurement Date of Net Pension Liability: December 31, 2019
Actuarial Cost Method: Entry Age Normal
Asset Valuation Method: Fair Value
Long-Term Expected Rate of Return: 7.0%
Discount Rate: 7.0%
Salary Increase:
Inflation 3.0%
Seniority/Merit 0.1% - 5.6%
Morality: Wisconsin 2018 Mortality Table
Post Retirement Adjustments: 1.9%

*No post-retirement adjustment is guaranteed. Actual adjustments are based on
recognized investment return, actuarial experience and other factors. 1.9% is the
assumed annual adjustment based on the investment return assumption and the post-
retirement discount rate.

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