Financial Reports

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Comprehensive Annual Financial Report. 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.

Actuarial Valuation. This in-depth analysis of the pension fund is provided annually to the Board by KCERA’s consulting actuary, Segal Consulting. 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.

Actuarial Experience Study. 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.

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