As part of our accountability to our members, the public, and stakeholders, LACERA publishes several types of financial reports. Actuarial valuations, experience studies, and Governmental Accounting Standards Board disclosure reports are produced by our actuarial consultant and are independently reviewed.
LACERA’s actuarial reports are composed of assumptions and an estimate of the present value of the promised benefits computed against the amount of contributions required to fund those benefits.
Actuarial Valuations and Reviews
Each year, LACERA’s actuarial consultant prepares a valuation report examining the liabilities and assets of the retirement fund. Every three years, LACERA’s reviewing actuary reviews the Pension and OPEB actuarial valuations.
Experience Studies and Reviews
Every three years, LACERA’s actuarial consultant prepares an investigation of experience to review the reasonableness of the actuarial methods and economic and demographic assumptions used in the valuation. LACERA’s reviewing actuary provides an opinion every three years on their review of the Pension and OPEB experience studies.
GASB Disclosure Reports
LACERA’s actuarial consultant produces annual actuarial reports in accordance with pronouncements from the Governmental Accounting Standards Board (GASB). LACERA’s independent auditor audits GASB 68 Disclosure Reports each year. LACERA’s reviewing actuary reviews both GASB 68 and 75 Disclosure Reports every other year.