Valuations of the Washington Retirement Systems
These reports supply the background calculations for determining the contribution rates, as well as the most current AVR information on funded status, plan assets, and participant data.
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 (DRS). 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 valuations for other programs, such as the Volunteer Fire Fighters’ and Reserve Officers’ Relief and Pension Fund (VFF), the GET Prepaid Tuition Plan (GET), and Other Postemployment Benefits (OPEB). For more information on these programs, see the Actuarial reporting webpage.
The California Research Bureau (CRB) provides a plain-language primer that explains the actuarial methods and practices OSA uses to prepare its annual actuarial valuations. Read the Plain-Language Actuarial Guide (PDF)
The DRS podcast provides additional information about how to use and interpret information in our actuarial valuation reports. Listen to the DRS podcast about pension plan funding.
2025 Actuarial Valuation
A Golden Milestone
OSA has officially released its 50th annual Actuarial Valuation Report (AVR), marking a half-century of transparency and commitment to our mission. The milestone publication provides information on the funding progress and developments in Washington State’s public pension systems over the past year, including a reported, combined funded status of 102%. Over the last 50 years, Washington has remained a leader in public pension plan design, governance, and funded status.
Historical Valuations
Law Enforcement Officers' and Fire Fighters' Retirement System Plan 2
This link provides access to the 2024 LEOFF 2 Actuarial Valuation Report, posted on the LEOFF 2 website.