GASB 45 Actuarial Valuations


State and local governments that maintain other post-employment benefit plans (OPEB) and have greater than 100 active and retired plan members are required to obtain an actuarial valuation of their OPEB obligations.

Actuarial Valuation Process
GASB Assist actuaries work closely with you throughout the actuarial valuation
process to:

  • clarify the features of your OPEB plans in a "pre-valuation" discussion
  • gather the plan and participant detail needed to prepare the valuation
  • select key assumptions (e.g., turnover, retirement age, discount rate and/or medical trend rate) based on your experience
  • determine the actuarial value of benefits for active and retired employees
  • generate the reports necessary to satisfy GASB 45 requirements, including financial information and footnote disclosures
  • provide an Actuarial Certification in compliance with Actuarial Standards Practice of the American Academy of Actuaries
  • deliver electronic and paper copies of your reports
  • review these reports with you in a post-valuation discussion

Although our actuaries are available by phone or for in-person consultations, you will also be given your own secure, private login area for submitting plan and employee data and for corresponding with our actuaries.

This collaborative online environment includes dedicated areas for downloading and uploading files, tracking overall progress and sharing project updates and client/account manager communications.

Actuarial Valuation Pricing
The following considerations determine the fee for an actuarial valuation:

  • type of pre-and post-age-65 benefits offered
  • number of active and retired members
  • number of medical benefit plans
  • number of eligibility requirements
  • existence of early retirement incentive programs

Meet the Team