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Actuarial Valuations


What is an Actuarial Valuation?

An actuarial valuation is a mathematical analysis performed by professional actuaries. Valuations provide an appraisal of the funded status of the Systems’ pension and insurance funds by estimating future liabilities and assets at a given point in time. For KPPA, annual valuations are conducted as of June 30, the end of our fiscal year.

KPPA's current actuary is GRS Retirement Consulting.

NOTE: ​​House Bill 484, passed during the 2020 Regular Session of the Kentucky General Assembly, and House Bill 9, passed during the 2021 Regular Session of the General Assembly, transferred governance of the County Employees Retirement System (CERS) ​to a separate 9-member board of trustees. Another 9-member board of trustees called the Kentucky Retirement Systems (KRS) oversees the Kentucky Employees Retirement System (KERS) and the State Police Retirement System (SPRS).​ Following this split, KPPA is presenting separate actuarial valuations for each system. Actuarial valuations prior to 2021, which contain all three systems' valuations in one report, can be found below.

Actuarial Valuations
2023 Actuarial Valuations2023 CERS2023 KERS2023 SPRS
2022 Actuarial Valuations2022 CERS2022 KERS2022 SPRS
2021 Actuarial Valuations2021 CERS2021 KERS2021 SPRS

View our Experience Studies

Experience studies are performed by the KPPA's independent actuary at least every five years to compare each plan's actual experience to what had been expected to occur.

Segal Independent Actuarial Study

The Board of Trustees of the Kentucky Retirement System retained The Segal Group to conduct an independent actuarial audit of the Systems' June 30, 2019 actuarial valuations and the 2014-2018 experience study, performed by KRS' Consulting Actuary, Gabriel, Roeder, Smith & Company. 

Independent Actuarial Audit of the June 30, 2019 Actuarial Valuations and the 2014-2018 Experience Study

All documents prior to 2013 have been archived and are available upon request. In addition, alternate formats of these materials may be made available upon request. Persons with hearing and speech impairments can contact KPPA by using the Kentucky Relay Service, a toll-free telecommunication device for the deaf (TDD). For voice to TDD, call 800-648-6057. For TDD to voice, call 800-648-6056.

For more information on requesting documents, visit our Open Records page.

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