Experience studies are performed by KPPA's independent actuary at least every five years to compare each plan's actual experience to what had been expected to occur.
Regular experience studies help ensure the underlying economic and demographic assumptions (such as expected payroll growth, investment returns and retiree life expectancy) accurately reflect plan experience. Accuracy is important because these assumptions are used to calculate the annual employer contribution rate that will allow KPPA to pay for current and future retiree benefits.
The two most recent Experience Studies, along with a presentation given to the Board of Trustees explaining the results of the 2013 Study, are listed below.
Milliman Independent Actuarial Study
The Public Pension Oversight Board (PPOB) commissioned Milliman to conduct an independent actuarial audit of June 30, 2021, actuarial valuations for all statewide retirement systems including those performed by KPPA's consulting actuary, Gabriel, Roeder, Smith & Company (GRS).
Milliman 2023 KYSRS Actuarial Audit Report
Segal Independent Actuarial Study
The Board of Trustees of the then-Kentucky Retirement System retained The Segal Group to conduct an independent actuarial audit of the Systems' June 30, 2019 actuarial valuations and the 2014-2018 experience study, performed by GRS.
Independent Actuarial Audit of the June 30, 2019 Actuarial Valuations and the 2014-2018 Experience Study
All documents prior to 2013 have been archived and are available upon request. In addition, alternate formats of these materials may be made available upon request. Persons with hearing and speech impairments can contact KPPA by using the Kentucky Relay Service, a toll-free telecommunication device for the deaf (TDD). For voice to TDD, call 800-648-6057. For TDD to voice, call 800-648-6056.