Assumptions about future events are a necessary component of the actuarial valuations. Key among them are:

•  Members' future rates of retirement and disability.

•  Their total length of service.

•  The rate at which their salaries will increase. 

OSA performs experience studies at least once every six years to determine at what rate the above factors have actually occurred in the retirement systems.  We compare actual rates to the assumptions and, if necessary, we make adjustments to the rates for future valuations.

 

Click on the titles below to open the PDF.

 2013-2018 Demographic Experience Study [2.9MB]

Individual sections are below.

 Demographic Experience Study Audit Report [308KB]

 Letter of Introduction [148KB]

  Section 1:  Executive Summary [206KB]

  Section 2:  Development of Demographic Assumptions[511KB]

 Actuarial Certification Letter [146KB]

 Disability Rates [168KB]

 Mortality Rates[223KB]

 Retirement Rates [191KB]

 Service-Based Salary Increases [205KB]

 Termination Rates [195KB]

 Section 3:  Appendices [1.3MB]

Results by System

 Disability Rates [281KB]

 Mortality Rates[347KB]

 Retirement Rates [306KB]

 Service-Based Salary Increases [301KB]

 Termination Rates [372KB]

Miscellaneous Assumptions

 Age Difference [165KB]

  Average Final Compensation Load [169KB]

 Catastrophic Disability [235KB]

 Certain and Life Annuities [200KB]

 Duty Disability Probability [170KB]

 Duty-Related Death [211KB]

 LEOFF Plan 2 Percent Law Enforcement Officer/Firefighter [162KB]

 Military Service Credit Load [177KB]

 Percent Male Female [163KB]

 Portability of First-Class Cities [195KB]

 Probability of Withdrawn Contributions [215KB]

 Salary Limits and Defaults [185KB]

 Survivor Remarriage Benefit [198KB]

 Survivor Annuity Assumption [262KB]

 TRS Salary Bonus [185KB]

Assumptions Removed from Future Studies

 Age and Service Limits [152KB]

 Deferred Annuity [77KB]

 Early Retirement Factor [85KB]

 WSPRS Disability Life Expectancy [78KB]

 Section 4:  Glossary  [183KB]

See also our online Glossary.

   

Historical Experience Studies: 
  2007-2012 Demographic Experience Study [7.6MB]

  2001-2006 Demographic Experience Study [2.4MB].

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