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Next Benefit Payment Date June 28

GASB 75 Actuarial Resources

Discount Rates

Because the Supplemental Death Benefits Fund is considered an unfunded trust under GASB Statement No. 75, the relevant discount rate for calculating the Net OPEB Liability is based on the Fidelity Index’s “20-Year Municipal GO AA Index” rate as of the measurement date.

Actuarial Experience Studies

TMRS generally performs an actuarial experience investigation study once every four years. These experience studies are conducted in accordance with generally accepted actuarial principles and practices and in compliance with Actuarial Standards of Practice issued by the Actuarial Standards Board. The actuarial assumptions used in the annual actuarial valuations and reviewed as part of the experience study are generally grouped into the following two major categories:

  1. Economic assumptions – including investment return, individual salary increases, overall payroll growth, inflation, etc.
  2. Demographic assumptions – including rates of termination, forfeiture, service retirement, disability retirement, mortality, etc.

During 2019, TMRS’s consulting actuary conducted a four-year experience investigation study, for the period ending December 31, 2018. This experience study included a full scale review by the actuaries of all actuarial assumptions – economic and demographic.

TMRS Actuarial Studies and Policies