Institutional Federal Compliance Report 2021

Sensitivity of total OPEB liability to changes in discount rate. The following presents the total OPEB liability of SUNY as of June 30, 2018 using the current year’s discount rate, as well as what the total OPEB liability would be if it were calculated using rates that are 1 percentage point higher and 1 percentage point lower than the current year’s rate (amounts in millions): 122 • Notes to Basic Financial Statements _________________________________________________________________________

1%

Current

1%

Decrease (2.89%)

Rate

Increase (4.89%)

(3.89%)

Total OPEB Liability as of June 30, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

15,021 $

12,505 $

10,557

what the total OPEB liability would be if it were cal- culated using rates that are 1 percentage point higher and 1 percentage point lower than the current year’s rate (amounts in millions):

Sensitivity of total OPEB liability to changes in health care cost trend rates. The following presents the total OPEB liability of SUNY as of June 30, 2018 using the current year’s healthcare cost trend rates, as well as

1%

Current

1%

Decrease

Trend Rates

Increase

Total OPEB Liability as of June 30, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

10,306 $

12,505 $

15,433

SUNY recognized $716 million in expenses related to OPEB at June 30, 2018. As of June 30, 2018, SUNY reported deferred outflows and deferred inflows of

resources related to OPEB from the following sources (amounts in millions):

Deferred Outflows of Resources

Deferred Inflows of Resources

Difference between expected and actual experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ Change in assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Employer contributions subsequent to the measurement date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

—00000 $ —00000

992 913

87

—00000

87 $

1,905

The amount of deferred outflows of resources resulting from employer contributions made subsequent to the measurement date will be recognized as a reduc- tion of the total OPEB liability in the year ended June 30, 2019. The remaining amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in future OPEB expense for the fiscal years ending June 30 as follows (amounts in millions):

is contributory for employees hired after 1985. The SUNY Research Foundation had a net OPEB liability of $13 million, deferred outflows of resources of $17 million and deferred inflows of resources of $47 million as of June 30, 2018. CUNY retirees receive retiree healthcare benefits through the New York City Health Benefits Program, which is a single-employer defined benefit healthcare plan. There are no assets accumulated in a trust that meet the criteria in paragraph 4 of GASBS 75. The plan covers individuals who receive pensions from one of the following three pension plans within the New York City Retirement System (NYCRS): New York City Employees’ Retirement System (NYCERS); New York City Teachers’ Retirement System (NYCTRS); and New York City Board of Education Retirement System (BERS). The program also covers individuals under alternate retirement arrangements. The most significant alternate arrangement is under TIAA rather than through NYCRS. New York City pays for the cov- erage (Basic Coverage and Welfare Fund contributions) for retirees in NYCRS and TIAA who retired from community colleges.

Fiscal Year 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

(331) (331) (331) (330) (330) (252)

(1,905)

SUNY Research Foundation, a blended compo- nent unit of SUNY, sponsors a separate single employer defined benefits post-retirement plan that covers substantially all nonstudent employees. The plan provides post-retirement medical benefits and