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PERB-Administered Retirement Systems: Actuarial Valuation Results


Posted Date: 
February 1, 2013

Below are the PERB-Administered Retirement Systems' Actuarial Valuation Results, as of June 30, 2012.

PERB-Administered Retirement Systems

Actuarial Valuation Results

June 30, 2012

($ in millions)

 

PERS

SRS

AAL

$ 5,661.2

$284.5

AVA

$3,816.9

$211.5

UAL

$1,844.3

$73.0

Est. % of County portion of UAL

18%

95%

Est. $ of County portion of UAL

$331,974.

$69,350.

Funded Ratio

67.6%

74.3%

County Por

 

 

Statutory Contribution Rate

14.13%

19.36%

NC Rate

11.80%

18.73%

Available for Amortization

2.34%

0.63%

Years to Amortize

Does Not Amortize

Does Not Amortize

Shortfall

6.527%

5.850%

 

AAL (Actuarial Accrued Liability): The cost of the future benefit payments for current members and retirees.

AVA (Actuarial Value of Assets): Market value of assets smoothed (averaged) over 4 years.  This helps to flatten out short-term market volatility.

UAL (Unfunded Actuarial Liability): The excess, if any, of the Actuarial Liability over Actuarial Value of Assets.

Funded Ratio: The ratio of the Actuarial Liabilities to the Actuarial Value of Assets.

NC (Normal Cost): The average cost of membership (an actuary's best guess about what currently accruing benefits will cost when they are paid in the future)