In the course of conducting our actuarial analysis, we make hundreds of assumptions and apply them over measurement periods that often exceed 50 years. In some cases, small changes in these assumptions or experience that plays out differently than expected can lead to significant changes in the measurements. These sensitivities can evolve as the plans grow and mature over time. The Legislature’s response to these changes and their actions governing the state’s pension system also affect plan risk.
To help all users of our actuarial measurements better understand these risks, we have developed this educational webpage. In the sub-sections below
(which readers can click to expand/collapse), we illustrate the risks inherent in our actuarial measurements at a system-wide level and consider how our actuarial measurements could vary under different circumstances. Such measurements include contribution rates, funded statuses, and actuarial fiscal notes.
The projected figures shown below are as of the
2017 Actuarial Valuation Report. We intend to update these projections every other year.