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Efficient, Effective and Accountable Government

Provide data, information, and analysis to support decision-making

Strategy: Provide data, information, and analysis to support decision-making

Agency: 035 - Office of the State Actuary

A001 - Actuarial Analysis for Retirement Benefits and Investments

The Office of the State Actuary provides actuarial services for the state retirement systems, Guaranteed Education Tuition (GET) program, and state higher education retirement plans (HERPs); advises the Legislature and Governor regarding benefit and funding policies for the state retirement systems; consults with the Legislature and Governor concerning determination of actuarial assumptions; prepares actuarial fiscal notes on each pension bill heard in a fiscal committee of the Legislature; and provides such actuarial services to the Legislature as may be required.

Account FY 2020 FY 2021 Biennium Total
FTE 17.1 16.8 17.0
001 - General Fund
State 333,000 347,000 680,000
418 - St Health Care Authority Admin Acct
State 231,000 240,000 471,000
489 - Pension Funding Stabilization Acct
State 14,000 14,000 28,000
600 - Dept of Retirement Systems Expense
State 2,822,000 2,878,000 5,700,000
FY 2020 FY 2021 Biennium Total
FTES 17.1 16.8 17.0
GFS 333,000.0 347,000.0 680,000.0
Other 3,067,000.0 3,132,000.0 6,199,000.0
Totals 3,400,000.0 3,479,000.0 6,879,000.0
Expected Results

The professional service activities performed by the Office of the State Actuary provide state retirement systems, GET, and HERP plan sponsors, participants, administrators, and other stakeholders with expert, accurate, and objective actuarial and policy analysis in a cost-effective and timely manner. These professional service activities provide stakeholders with the actuarial and policy analysis required for the prudent governance of the state retirement systems, GET program, and HERP supplemental benefit plans.