Actuarial valuations are technical reports providing full disclosure of the financial and funding status of public retirement systems administered by the Department of Retirement Systems.  Valuations for odd-numbered years are also used to set contribution rates for the ensuing biennium.  For those valuations, the Pension Funding Council oversees an actuarial audit of the results by an outside actuary. 

OSA also performs annual valuations of the Volunteer Fire Fighters’ and Reserve Officers’ Relief and Pension Fund Act ( RCW 41.24p ), which is administered by the Board for Volunteer Fire Fighters and Reserve Officers.  Its valuation is published separately.

The California Research Bureau (CRB) provides a plain language primer that summarizes and explains the actuarial methods and practices used by OSA when preparing the annual actuarial valuations. Here is a link to the report PDF on the CRB website.

Preliminary sections of the 2012 Actuarial Valuation will be posted below as they are finished.  The final report will not be posted in full until the date shown.

The 2011 Actuarial Valuation is on the Historical Valuations page.

Click on the titles below to open the PDF.

2012 Actuarial Valuation

 2012 Actuarial Valuation Report [8/31/13]

Preliminary sections will be posted below on the dates shown. The full report will not be posted until final.

  Letter of Introduction [6/30/13]

  Section One:  Summary of Key Results [8/31/13]

  Section Two:  Actuarial Exhibits  [8/31/13]

  Certification Letter [8/31/13]

  Contribution Rates [8/31/13]

  Actuarial Liabilities [6/30/31]

  Plan Assets [620KB]

  Funded Status [6/30/13]

  Actuarial Gains/Losses [8/31/13]

  Effect of Plan, Assumption, and Method Changes [8/31/13]

  Section Three:  Participant Data [8MB]

Appendices

  Actuarial Methods/Assumptions [6/30/13]

  Medical Premium Reimbursement [8/31/13]

  Miscellaneous Assumptions/Methods [8/31/13]

   Summary of Plan Provisions [586KB]

    Age/Service Distributions [622KB]

    Age/Years Retired Distributions [718KB]  

  Historical Data [8/31/13]

Glossary

Law Enforcement Officers' and Fire Fighters' Retirement System Plan 2

This link provides access to the LEOFF 2 Actuarial Valutaion Report in PDF format, posted on the LEOFF 2 website.

Volunteer Fire Fighters' and Reserve Officers' Retirement System

  2012 Volunteer Fire Fighters Relief and Pension Fund Valuation [10/31/13]

   The 2011 VFF AVR is on the Historical Valuations page.

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