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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.
The OSA also performs annual valuations of the Volunteer Fire Fighters’ and Reserve Officers’ Relief and Pension Act
(
RCW 41.24). This retirement system is administered by the
Board for Volunteer Fire Fighters and Reserve Officers
and its valuation is published separately.
The
California Research Bureau
(CRB) has provided a plain language primer that summarizes and explains the actuarial methods and practices used by OSA when preparing the annual actuarial
valuations. We've provided
a link directly to the report PDF on the CRB
website.
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2008 Actuarial Valuation Report
