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
), which is administered by the
Board for Volunteer Fire Fighters and Reserve Officers. Its valuation is published separately.
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.