Board Report October 2025

PONTIAC TOWNSHIP HIGH SCHOOL DISTRICT NO. 90 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2025

NOTE 11 — RETIREMENT PLANS — CONTINUED TEACHER'S RETIREMENT SYSTEM OF THE STATE OF ILLINOIS — CONTINUED

The net pension liability was measured as of June 30, 2024, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2024, and rolled forward to June 30, 2025. The employer's proportion of the net pension liability was based on the employer's share of contributions to TRS for the measurement year ended June 30, 2024, relative to the projected contributions of all participating TRS employers and the state during that period. At June 30, 2024, the employer's proportion was 00.0005489865%, which was an increase (decrease) of 00.0000364712% from its proportion measured as of June 30, 2023. For the year ended June 30, 2025, the employer contributions recognized as pension expense on a modified cash basis was $51,734. For the year ended June 30, 2024, the employer recognized on-behalf pension expense and revenue of $3,146.339 for support provided by the state. At June 30, 2025, the employer reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows

Deferred

Inflows

Differences between expected and actual experience Net difference between projected and actual earnings on pension plan investments Changes of assumptions Changes in proportion and differences between employer contributions and proportionate share of contributions Employer contributions subsequent to the measurement date*

1,773 $

1,224

4,047

6,495

250

30,907

26,208

Total

39,175 $ 31.729 Amounts (not presented)* reported as deferred outflows of resources related to pensions resulting from employer contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the reporting year ended June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year ended June 30: 2026 $ (9,887) 2027 $ 3,385 2028 $ 3,965 2029 $ 6,915 2030 $ 3,068 Actuarial assumptions The total pension liability in the June 30, 2025 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 2.50 percent Salary increases varies by amount of service credit Investment rate of return 7.00 percent, net of pension plan investment expense, including inflation In the June 30, 2024 actuarial valuation, mortality rates were based on the PubT-2010 Table with appropriate adjustment for TRS experience. The rates are based on a fully-generated basis using projection table 2024 Adjusted Scale MP-2021. In the June 30, 2023 actuarial valuation, mortality rates were based on the PubT-2010 White Collar Table with appropriate adjustments for TRS experience. The rates were used on a fully-generational basis using projection table MP-2020.

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