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Actuarial Information, Reports and Employer Contribution Rates

StanCERA’s overall funding objective is to meet long-term benefit promises by maintaining a well-funded plan status through a combination of superior investment returns and employer and employee contributions which are both minimized and maintained as level as possible for each generation of active members. The greater the level of overall plan funding, the larger the ratio of assets accumulated to the actuarial accrued liability and the greater the investment potential. The advantage of a well-funded plan is that the benefits earned by participants are funded during their working careers and not by future generations of taxpayers. To help reduce year-to-year volatility in employer contribution rates due to fluctuations in investment performance, StanCERA smooths the calculation of actuarial assets over a rolling five-year period. This not only stabilizes contribution rates but also improves the ability of the employer to plan for possible future increases or decreases in the rates.

StanCERA engages an independent actuarial consulting firm, EFI Actuaries, to conduct its annual actuarial valuation.  In addition, triennially, StanCERA requests that its actuary perform an analysis of the appropriateness of all economic and non-economic assumptions. As a result of the actuary analysis, the Board of Retirement may approve certain changes to the actuarial assumptions.

Employer          
Rates Annual Valuation Triennial Experience Study Actuarial Audit GASB
Fiscal Year 2017-2018 Cheiron, Actuarial Valuation as of June 30, 2016     Cheiron GASB 67/68 Report as of June 30, 2016 StanCERA GASB 68 Report as of June 30, 2016
Fiscal Year 2016-2017 Cheiron, Actuarial Valuation as of June 30, 2015 Cheiron, Experience Study for the Period July 1, 2012 Through June 30, 2015 Bartel, Independent Audit Report Cheiron GASB 67/68 Report as of June 30, 2015 StanCERA GASB 68 Report as of June 30, 2015
Fiscal Year 2015-2016 Cheiron (formally EFI Actuaries), Actuarial Valuation as of June 30, 2014     Cheiron GASB 67/68 Report as of June 30, 2014 StanCERA GASB 68 Report as of June 30, 2014
Fiscal Year 2014-2015 Cheiron (formally EFI Actuaries), Actuarial Valuation as of June 30, 2013        
Fiscal Year 2013-2014 EFI Actuaries, Actuarial Valuation as of June 30, 2012 EFI Actuaries, Experience Study for the Period July 1, 2009 through June 30, 2012 Segal, Independent Audit Report    
           
Tier 6 Effective 1/1/2013 EFI Actuaries, PEPRA Implementation Study - Tier 6        
           
  EFI Actuaries, Actuarial Valuation as of June 30, 2011        
           
Fiscal Year 2011-2012 EFI Actuaries, Actuarial Valuation as of June 30, 2010        
           
Fiscal Year 2010-2011 EFI Actuaries, Actuarial Valuation as of June 30, 2009 EFI Actuaries, Experience Study for the Period July 1, 2006 through June 30, 2009      
           
Fiscal Year 2009-2010 EFI Actuaries, Actuarial Valuation as of June 30, 2008   Milliman, Independent Audit Report - November 4, 2008    
           
  Buck Consultants, Actuarial Valuation as of June 30, 2006 Buck Consultants, Experience Study for the Period July 1, 2003 through June 30, 2006