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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 2023Actuarial Valuation 2022Actuarial Valuation 2021 Actuarial Valuation 2020 Actuarial Valuation 2019 Actuarial Valuation 2018Actuarial Valuation 2017Actuarial Valuation 2016Actuarial Valuation 2015Actuarial Valuation 2014Actuarial Valuation 2013Actuarial Valuation 2012Actuarial Valuation 2011Actuarial Valuation 2010Actuarial Valuation 2009Actuarial Valuation 2008Actuarial Valuation Addendum 2008
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.2023 GASB 68 Actuarial Report2022 GASB 68 Actuarial Report2021 GASB 68 Actuarial Report2020 GASB 68 Actuarial Report2019 GASB 68 Actuarial Report2018 GASB 68 Actuarial Report2017 GASB 68 Actuarial Report2016 GASB 68 Actuarial Report2016 GASB 68 Actuarial Report2015 GASB 68 Actuarial Report
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, 2022Actuarial Experience Study for July 1, 2016- June 30, 2019Actuarial Experience Study for July 1, 2013 – June 30, 2016 Actuarial Experience Study for July 1, 2010 – June 30, 2013Actuarial Experience Study for July 1, 2008 – June 30, 2011Actuarial Experience Study for Jan. 1, 2006 – June 30, 2008
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 6-30-22Sch. of Employer Allocations and Pension Amounts by Employer 6-30-21Sch. of Employer Allocations and Pension Amounts by Employer 6-30-20Sch. 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.
This report is produced annually by KCERA to provide an in-depth look at the budget policies, operating and administrative expenses.
KCERA Human Resources Report
This report is intended to outline KCERA's staffing.