The valuation was presented by CCCERA’s actuary, Segal
Consulting. The ratio of the valuation value of assets to
actuarial accrued liabilities increased from 70.6% to 76.4%. The
Association’s UAAL has decreased from $2.3 billion to $1.8
billion. This decrease is primarily due to changes in leave
cashout assumptions, an investment return on actuarial value
(i.e. after smoothing) greater than the 7.25% assumed rate and
lower than expected individual salary increases.
December 31, 2013 Actuarial Valuation
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