Financial and Administrative Reports

Actuarial Reports

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Actuarial Valuation Reports

This in-depth analysis of the pension fund is provided annually to the Board by KCERA’s consulting actuary, Segal. Its main purpose is to propose employer and employee contribution rates needed to fund the Plan in the coming fiscal year, but it also provides a detailed accounting of KCERA’s present and future assets and liabilities. Future projections are calculated using a variety of demographic and economic assumptions that are based on empirical trends, including salary increases, mortality rates, investment earnings, and more. The combined report also includes these related documents: SRBR Valuation, GASB 67 Valuation, Allocation of Liabilities and Assets by District and Impact of Declining Employer Payroll Policy reports.

Actuarial Valuation 2024 Actuarial Valuation 2023 Actuarial Valuation 2022 Actuarial Valuation 2021 Actuarial Valuation 2020 Actuarial Valuation 2019 Actuarial Valuation 2018 Actuarial Valuation 2017 Actuarial Valuation 2016 Actuarial Valuation 2015 Actuarial Valuation 2014 Actuarial Valuation 2013 Actuarial Valuation 2012 Actuarial Valuation 2011 Actuarial Valuation 2010 Actuarial Valuation 2009 Actuarial Valuation 2008 Actuarial Valuation Addendum 2008

GASB 68 Actuarial Reports

The Governmental Accounting Standards Board (GASB) is an independent organization that establishes and improves standards of accounting and financial reporting and is recognized as the official source of generally accepted accounting principles (GAAP) for U.S. state and local governments. GASB 68 actuarial reports are provided to help employers, members and other stakeholders understand accounting rules that impact the way employers and pension plans account for and report their defined benefit plans for employees.

2024 GASB 68 Actuarial Report 2023 GASB 68 Actuarial Report 2022 GASB 68 Actuarial Report 2021 GASB 68 Actuarial Report 2020 GASB 68 Actuarial Report 2019 GASB 68 Actuarial Report 2018 GASB 68 Actuarial Report 2017 GASB 68 Actuarial Report 2016 GASB 68 Actuarial Report 2016 GASB 68 Actuarial Report 2015 GASB 68 Actuarial Report

Actuarial Experience Study and Actuarial Audits

Every three years, KCERA’s consulting actuary performs a comprehensive review of the Plan’s actuarial assumptions in relation to the demographic and economic “experience” of the Plan over the preceding three fiscal years. The actuary may recommend to the Board changes in the actuarial assumptions based on long-range trends identified in the study.

Actuarial Experience Study for July 1, 2019- June 30, 2022 Actuarial Experience Study for July 1, 2016- June 30, 2019 Actuarial Experience Study for July 1, 2013 – June 30, 2016 Actuarial Experience Study for July 1, 2010 – June 30, 2013 Actuarial Experience Study for July 1, 2008 – June 30, 2011 Actuarial Experience Study for Jan. 1, 2006 – June 30, 2008

Audit of the Actuarial Valuations and peer review of the Experience Study:

Actuarial Audit June 30, 2019

Schedules of Employer Allocations and Pension Amounts by Employer

This report is produced and audited annually to provide plan sponsors with a schedule of allocation of pension liability and pensions amounts.

Sch. of Employer Allocations and Pension Amounts by Employer 6-30-23 Sch. of Employer Allocations and Pension Amounts by Employer 6-30-22 Sch. of Employer Allocations and Pension Amounts by Employer 6-30-21 Sch. of Employer Allocations and Pension Amounts by Employer 6-30-20 Sch. of Employer Allocations and Pension Amounts by Employer 6-30-19

Annual Comprehensive Financial Report (ACFR)

This report is produced annually by KCERA to provide in-depth financial, investment, actuarial and statistical information about the Plan from the prior fiscal year.

Current ACFR

Historical ACFR