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. 

OSA also performs annual valuations of the Volunteer Fire Fighters’ and Reserve Officers’ Relief and Pension Fund Act (RCW 41.24), which is administered by the Board for Volunteer Fire Fighters and Reserve Officers.  Its valuation is published separately.

The California Research Bureau (CRB) provides a plain language primer that summarizes and explains the actuarial methods and practices used by OSA when preparing the annual actuarial valuations. Here is a link to the report PDF.

Please note the impacts of COVID-19 are generally not reflected in the 2020 Actuarial Valuation with the exception of investment performance, salary and system growth impacts during fiscal year 2020. More information can be found on our dedicated webpage, COVID-19 and its Impacts to the Washington State Retirement Systems.

Recent Actuarial Valuations

PDF Icon 2020 Actuarial Valuation [11 mb]

 

The 2021 Actuarial Valuation process is underway and the anticipated publication dates are noted below. We will provide links to the individual items as they are available.

2021 Actuarial Valuation

Final 2021 Actuarial Valuation [August 31, 2022]

PDF Icon Draft 2021 Actuarial Valuation [4.4 Mb]

2021 Actuarial Audit Report [September 30, 2022]

PDF Icon Letter of Introduction [899 Kb]

Section One: PDF Icon Summary of Key Results [3.6 Mb]

Section Two: PDF Icon Actuarial Exhibits [2.9 Mb]

PDF Icon Certification Letter [922 Kb]

PDF Icon Contribution Rates [956 Kb]

PDF Icon Actuarial Liabilities [922 Kb]

PDF Icon Plan Assets [1.5 Mb]

PDF Icon Funded Status [1.6 Mb]

PDF Icon Actuarial Gains-Losses [1.1 Mb]

Section Three: PDF Icon Participant Data [1.8 Mb]

Section Four: PDF Icon Appendices [1.6 Mb]

PDF Icon Actuarial Methods/Assumptions [907 Kb]

PDF Icon Summary of Plan Provisions [1 Mb]

Section Five: PDF Icon Resources [1.6 Mb]

Age Distributions

Historical Data [June 30, 2022]

Glossary

Historical Valuations

Find historical valuations of the Washington retirement systems here

 
Law Enforcement Officers' and Fire Fighters' Retirement System Plan 2

This link provides access to the 2019 LEOFF 2 Actuarial Valuation Report PDF, posted on the LEOFF 2 website. 

 
Volunteer Fire Fighters' and Reserve Officers' Retirement System

2020 Volunteer Fire Fighters Relief and Pension Fund Valuation [2832 kb] PDF Icon

The 2019 VFF AVR is on the Historical Valuations page.

2021 Volunteer Fire Fighters Pension Experience Study [7193 kb] PDF Icon

2018 Volunteer Fire Fighters Relief Experience Study [8965 kb] PDF Icon

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Last Reviewed: 06/24/2022

Last Updated: 06/24/2022