Actuarial Reports

Each year MCERA's independent actuary completes an actuarial valuation, which is presented to the Retirement Board. The actuarial valuation measures the current and projected assets and liabilities of the retirement system as well as the system's funded status. Based on the results the Retirement Board adopts new member and employer contribution rates for all participating employers for the upcoming fiscal year.

Actuarial Experience Studies

On a triennial basis, the actuary also conducts an experience study of the members of MCERA and makes recommendations to the Board on all economic and non-economic assumptions.

• 7/1/2020 through 6/30/2023
• 7/1/2017 through 6/30/2020
• 7/1/2014 through 6/30/2017
• 7/1/2011 through 6/30/2014
• 7/1/2008 through 6/30/2011
• 7/1/2006 through 6/30/2008
• 7/1/2004 through 6/30/2006

Actuarial Audit Reports

MCERA periodically contracts with a second actuarial consulting firm to perform actuarial audits of reports prepared by the plan’s principal actuary.

2018 Audit of Actuarial Experience Study and Actuarial Valuation Report

• Audit Report by Milliman
• Presentation by Milliman

2013 Audit of Actuarial Experience Study and Actuarial Valuation Report

• Audit Report by Milliman
• Presentation by Milliman
• Response from EFI Actuaries