The report, which was conducted by the Public Employee Retirement Administration, was performed using data as of January 1, 2006. Under Massachusetts law, each retirement system is required to conduct an actuarial valuation once every three years.

Actuarial Valuation Report
January 1, 2006

This report presents actuarial valuation findings as of January 1, 2006, under the Commonwealth of Massachusetts Retirement System.
The actuarial valuation is based on:

  • Provisions Chapter 32 of the Massachusetts General Laws, "M.G.L", as of
  • January 1, 2006. Employee data provided by the Retirement Board
  • Asset information reported to the Public Employee Retirement Administration Commission by the Contributory Retirement System
  • Actuarial assumptions approved by the Retirement Board

The valuation and appropriation forecast are prepared in accordance with Chapter 32 of the M.G.L. as of January 1, 2006.
The valuation and forecast do not account for:

  • Any subsequent changes in the law
  • Chapter 32 of the M.G.L., Section 3(8)(c) transfers between systems
  • State-mandated benefits
  • Cost-of-living increases granted to retired members between 1982 and 1997. The cost of these benefits has been assumed by the State under Proposition Two and One-Half.