SRP Actuarial Valuation
What is an Actuarial Valuation?
An actuarial valuation is a mathematical analysis of the financial condition of a pension plan. An actuary prepares an actuarial valuation at least once every three years. The valuation determines the financial position of the pension plan and the future contribution rates needed to ensure the long-term funding of the Plan. The actuary determines how much money the plan needs to pay pensions by making assumptions about future investment returns, future inflation rates, future increases in salaries, retirement ages, life expectancy and other factors.
By regulation, an actuarial valuation must be conducted every three years.
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