Retirement Fund Actuarial Valuation and Review as of July 1, 2023
Retirement Fund GASB 67 report as of June 30, 2023
Retirement Fund GASB 68 Report as of June 30, 2023 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2023
Death Benefit Fund GASB 74 report as of June 30, 2023
Death Benefit Fund GASB 75 report as of June 30, 2023 (commissioned by Financial Services Organization for employer reporting)
Disability Fund Review as of July 1, 2023
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2023 (commissioned by Financial Services Organization)
Actuarial Valuations
An actuarial valuation is a review of the Plan’s assets and liabilities, using investment, economic and demographic assumptions to determine the funded status of the Plan and the required contributions from the LADWP. The assumptions used in the annual valuations are based on a mix of statistical studies, experienced judgment, and plan design. The Plan is responsible for administering three separate trust funds – Death Benefit, Disability, and Retirement. Each fund has its own funding policy and actuarial valuation report
Effective fiscal year 2022-2023, the Retirement Fund valuation is modeled on the following key assumptions and funding policies:
- Investment Return: 6.50% net of investment expenses
- Interest Crediting: 7.00% based on Plan provisions
- Consumer Price Index: 2.50%
- Mortality Rates: Pub-2010 General Health Retiree Amount-Weighted Above-Median Mortality, with rates increased by 5% for males
- Unfunded Actuarial Accrued Liabilities: Amortized over a fifteen-year period in equal dollar amounts
- Investment gains or losses: Recognized in equal amounts over a five year period
- Entry Age Actuarial Cost Method is used to determine the Normal Cost and Actuarial Accrued Liability, which are calculated on an individual basis and allocated as a level percentage of salary
Fiscal Year 2023
Fiscal Year 2022
Retirement Fund Actuarial Valuation and Review as of July 1, 2022
Retirement Fund GASB 67 report as of June 30, 2022
Retirement Fund GASB 68 Report as of June 30, 2022 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2022
Death Benefit Fund GASB 74 report as of June 30, 2022
Death Benefit Fund GASB 75 report as of June 30, 2022 (commissioned by Financial Services Organization for employer reporting)
Disability Fund Review as of July 1, 2022
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2022 (commissioned by Financial Services Organization)
Review of Investment Return Assumption for Death and Disability Funds - Alternative Assumptions
Fiscal Year 2021
Retirement Fund Actuarial Valuation and Review as of July 1, 2021
Retirement Fund GASB 67 report as of June 30, 2021
Retirement Fund GASB 68 Report as of June 30, 2021 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2021
Death Benefit Fund GASB 74 report as of June 30, 2021
Death Benefit Fund GASB 75 report as of June 30, 2021 (commissioned by Financial Services Organization for employer reporting)
Disability Fund Review as of July 1, 2021
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2021 (commissioned by Financial Services Organization)
Fiscal Year 2020
Retirement Fund Actuarial Valuation and Review as of July 1, 2020
Retirement Fund GASB 67 report as of June 30, 2020
Retirement Fund GASB 68 Report as of June 30, 2020 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2020
Death Benefit Fund GASB 74 report as of June 30, 2020
Death Benefit Fund GASB 75 report as of June 30, 2020 (commissioned by Financial Services Organization for employer reporting)
Disability Fund Review as of July 1, 2020
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2020 (commissioned by Financial Services Organization)
Fiscal Year 2019
Retirement Fund Actuarial Valuation and Review as of July 1, 2019
Retirement Fund GASB 67 report as of June 30, 2019
Retirement Fund GASB 68 Report as of June 30, 2019 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2019
Death Benefit Fund GASB 74 report as of June 30, 2019
Death Benefit Fund GASB 75 report as of June 30, 2019 (commissioned by Financial Services Organization for employer reporting)
Disability Fund Review as of July 1, 2019
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2019 (commissioned by Financial Services Organization)
Fiscal Year 2018
Retirement Fund Actuarial Valuation and Review as of July 1, 2018
Retirement Fund GASB 67 report as of June 30, 2018
Retirement Fund GASB 68 Report as of June 30, 2018 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2018
Death Benefit Fund GASB 74 report as of June 30, 2018
Death Benefit Fund GASB 75 report as of June 30, 2018 (commissioned by Financial Services Organization for employer reporting)
Disability Fund Review as of July 1, 2018
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2018 (commissioned by Financial Services Organization)
Fiscal Year 2017
Retirement Fund Actuarial Valuation and Review as of July 1, 2017
Retirement Fund GASB 67 Report as of June 30, 2017
Retirement Fund GASB 68 Report as of June 30, 2017 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2017
Death Benefit Fund GASB 74 Report as of June 30, 2017
Disability Fund Review as of July 1, 2017
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2017 (commissioned by Financial Services Organization)
Fiscal Year 2016
Retirement Fund Actuarial Valuation and Review as of July 1, 2016
Retirement Fund GASB 67 report as of June 30, 2016
Retirement Fund GASB 68 Report as of June 30, 2016 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2016
Disability Fund Review as of July 1, 2016
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2016 (commissioned by Financial Services Organization)
Fiscal Year 2015
Retirement Fund Actuarial Valuation and Review as of July 1, 2015
Retirement Fund GASB 67 report as of June 30, 2015
Retirement Fund GASB 68 Report as of June 30, 2015 (commissioned by Financial Services Organization for employer reporting)
Death Benefit Fund Review as of July 1, 2015
Death Benefit Fund GASB 67 Report as of June 30, 2015
Disability Fund Review as of July 1, 2015
Healthcare Other Postemployment Benefits Actuarial Valuation as of June 30, 2015 (commissioned by Financial Services Organization)
Fiscal Year 2014
Retirement Fund Actuarial Valuation and Review as of July 1, 2014
Retirement Fund GASB 67 report as of June 30, 2014
Death Benefit Fund Review as of July 1, 2014
Disability Fund Review as of July 1, 2014
Fiscal Year 2013
Actuarial Valuation and Review as of July 1, 2013
Death Benefit Fund Review as of July 1, 2013
Disability Fund Review as of July 1, 2013
GASB Acturial Valuation and Review as of July 1, 2013
Fiscal Year 2012
Fiscal Year 2011
Fiscal Year 2010
Fiscal Year 2009
Actuarial Valuation and Review as of July 1, 2009
Death Benefit Fund Review as of July 1, 2009
Disability Fund Review as of July 1, 2009
GASB Acturial Valuation and Review as of June 30, 2009
Fiscal Year 2008
Actuarial Valuation and Review as of July 1, 2008
Death Benefit Fund Review as of July 1, 2008
Disability Fund Review as of July 1, 2008
GASB Acturial Valuation and Review as of June 30, 2008
Fiscal Year 2007
Actuarial Valuation and Review as of July 1, 2007
Death Benefit Fund Review as of July 1, 2007
Disability Fund Review as of July 1, 2007
Fiscal Year 2006
Fiscal Year 2005
Fiscal Year 2004
Fiscal Year 2003
Fiscal Year 2002
Fiscal Year 2001
Fiscal Year 2000