About the Office of the State Actuary
We are an independent and non-partisan Legislative agency that supports state financial security programs including the state’s public retirement systems. OSA was created in 1977 and its duties are listed in Chapters 44.44 and 41.24 RCW. Our office is led by the State Actuary.
Who we are
Our mission
We model the highest level of professionalism and strive to provide clear, impartial, and expert analysis to assist our clients in making informed decisions and navigating the uncertainties of the future.
Our vision
Sound programs that provide financial security for Washingtonians today and for generations to come.
Our shared values
By collaborating, clarifying expectations, and innovating, we aim to continually improve the quality of our services and working relationships. As colleagues, we work together to promote a fun, friendly and respectful office culture, which emphasizes work-life balance and opportunities for personal and professional growth.
Life at OSA
Our office culture
OSA is one of only a handful of independent and non-partisan actuarial state agencies across the country. We are leaders in what we do. Created by the Legislature in 1977, we continuously strive to serve our clients in an innovative and creative capacity while maintaining rigorous standards for professional excellence and objectivity.
View an introductory video to our office on our YouTube channel.
Our people
We do not believe in the typical structure of top down management. Our culture is centered on collaboration and team work. Staff at all levels participate in solving the new challenges we get on a daily basis. We are given the freedom to approach our work with flexibility and creativity, which makes for a great work environment. Our people truly are our most valuable asset and it shows in our work.
Learning and development
Given the diversity of clients we serve, and variety of services offered, there is always opportunity to expand and develop professionally at OSA. We work side-by-side with some of the top talent in state government. We also value continuous education and offer many learning opportunities through professional associations and support participation in certification programs.
State Actuary Biography
Matthew M. Smith, FCA, EA, MAAA
Matthew M. Smith is a Fellow of the Conference of Consulting Actuaries (FCA), an Enrolled Actuary (EA), and a member of the American Academy of Actuaries (MAAA). He received his undergraduate degree in mathematics from the University of Puget Sound in Tacoma, Washington. Matt started his actuarial career as an actuarial assistant with the Office of the State Actuary (OSA). Prior to his appointment as the State Actuary in November 2002, he worked for Willis Towers Watson, Milliman, and Howard Johnson/Merrill Lynch in various actuarial and consulting roles.
Matt is Washington’s third State Actuary and serves as executive head of OSA. As the State Actuary, Matt oversees the annual actuarial valuations of 14 public retirement plans. He directs the actuarial services for the state’s prepaid tuition program, certain medical programs, and the Long-Term Services and Supports Trust Program. OSA also provides staff and assistance to the Select Committee on Pension Policy (SCPP), a 20-member statutory committee. The SCPP studies issues and policies affecting the Washington State Retirement Systems and makes recommendations to the Legislature. Matt directs research and policy staff in support of the SCPP.
Matt believes that actuaries help the public identify, quantify, and manage risk. As State Actuary, he strives to support the soundness of Washington State financial security programs by simplifying and clearly explaining actuarial concepts. By translating complex information into easy to understand non-actuarial terms, plan members, legislators, citizens, and other stakeholders are able to make informed decisions about program benefits and policies.