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2007-2012 Demographic Experience Study

Assumptions about future events are a necessary component of the actuarial valuations. Key among them are:

•  Members' future rates of retirement and disability.

•  Their total length of service.

•  The rate at which their salaries will increase. 

OSA performs experience studies at least once every six years to determine at what rate the above factors have actually occurred in the retirement systems.  We compare actual rates to the assumptions and, if necessary, we make adjustments to the rates for future valuations.

Note:  Preliminary sections are posted as they are approved.  Final sections, and the full report, will be posted as they become finalized.

 

Click on the titles below to open the PDF.

 2007-2012 Demographic Experience Study

Report may take 5-10 minutes to load, individual sections are below.

Letter of Introduction [732KB]

Section 1:  Executive Summary [248KB]

Section 2:  Development of Demographic Assumptions

Actuarial Certification Letter

Mortality Rates [530KB]

Retirement Rates

Disability Rates

Termination Rates

Service-Based Salary Increases

Section 3:  Appendices

Results by System

Retirement Rates

Disability Rates

Termination Rates

Service-Based Salary Increases

Miscellaneous Assumptions

Percent Vested

Survivors Selecting Annuities

AFC Load

Certain and Life Annuities

Military Service Credit Load

Age Difference

Replacement Salaries

Percent Male/Female

WSP Disabled Life Expectancy

LEOFF 1 Dependent Children

Percent Fire Fighter and Catastrophic Disability Benefit in LEOFF 2

Deferred Annuity Assumption

Section 4:  Glossary

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