Actuarially Speaking: A Plain Language Summary of Actuarial Methods and Practices for Public Employee Pension and Other Post-Employment Benefits
Grant Boyken (CRB-08-003, February, 2008)
In January 2008, the California Public Employee Post-Employment Benefits Commission issued recommendations to address the costs of providing public employee pension and retiree health benefits. Several of the Commission’s recommendations -- and provisions of legislation introduced to implement those recommendations (SB 1123, Wiggins) -- address actuarial practices used to determine funding levels for pension and retiree health benefits. Because actuarial methods are a unique and somewhat complex form of financial accounting, this “plain language” summary was developed to serve as a reference guide for policy makers, government employers, pension and health plan administrators, and members of the general public interested in the topic.
PDF version (763KB) is available online.
To read a full press release about this report, please visit http://www.library.ca.gov/pressreleases/pr_080204.html
For this and other online California Research Bureau reports, please visit the California Research Bureau page on the California State Library website.