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KIMLEY‐HORN AND ASSOCIATES, INC.  <br />NOTES TO THE FINANCIAL STATEMENTS  <br />  <br />DECEMBER 31, 2016 AND 2015  <br />(SEE INDEPENDENT ACCOUNTANT’S REVIEW REPORT)  <br />  <br />  <br />17 <br />Note 10—Other liabilities (continued)  <br />  <br />The net (gain) loss and prior service costs (credit) that will be amortized from accumulated other comprehensive <br />income into net periodic post-retirement benefits cost over the next fiscal year are $26,538 and ($1,692), <br />respectively. <br /> <br />The accumulated post-retirement benefit obligation was determined using a discount rate of 3.65% and 3.83% <br />for 2016 and 2015, respectively. The assumed healthcare cost trend rate for 2016 is 7.0%, decreasing by 0.1% <br />in each future year to 5.0% for 2030 and remaining at that level thereafter. Increasing the assumed healthcare <br />cost trend rates by one percentage point would increase the accumulated post-retirement benefit obligation as <br />of December 31, 2016 by approximately $121,000. <br /> <br />The benefits projected to be paid from the post-retirement benefit plan in each year 2017-2021 are <br />approximately $95,000, $75,000, $77,000, $79,000, and $80,000, respectively. The aggregate benefits <br />projected to be paid in the five years from 2022-2026 are approximately $409,000. The projected benefits are <br />based on the same assumptions used to measure the Company’s benefit obligation as of December 31 and <br />include estimated future employee service. <br /> <br />Note 11—Concentrations of credit risk  <br />  <br />The Company places its cash and cash equivalents on deposit with financial institutions in the United States. <br />The Federal Deposit Insurance Corporation covers $250,000 for all interest-bearing deposit accounts. During <br />the year, the Company may have had amounts on deposit in excess of the insured limits. The cash balances <br />are maintained at financial institutions with high credit quality ratings and the Company believes no significant <br />risk of loss exists with respect to those balances. <br /> <br />Note 12—Subsequent events  <br />  <br />The Company has evaluated subsequent events through March 14, 2017, the date these financial statements <br />were available to be issued, and has determined there are no subsequent events that require disclosure.