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Financial Reports
The Annual Report of the Annuity and Pension Board contains a condensed summary of the financial statements for the fiscal year being reported. It also lists the board members, officers and major consultants, including the investment managers. These reports are linked here. The Financial Statements present the financial position of the Employes’ Retirement System and the changes in net plan assets for the year then ended. They include the Statement of Net Plan Assets, Statement of Changes in Net Plan Assets, Explanatory Notes and Required Supplementary information. They can be found here.
The Actuarial Valuation is an assessment of the financial viability of the Employes' Retirement System. It evaluates the sufficiency of the assets and future earnings to provide the funding necessary to satisfy the obligations of the System. The valuation is based on the latest year end financial data of the System, and a set of assumptions such as assumed rates of returns on invested funds, salary increases and life expectancy. These reports can be found here. |