Actuarial Valuation

This report presents the findings of an actuarial valuation as of January 1, of the Massachusetts Water Resources Authority Employees' Retirement System. The actuarial valuation is based on:

• Provisions Chapter 32 of the Massachusetts General Laws, "M.G.L", as of January 1.
• Employee data provided by the Retirement Board
• Asset information reported to the Public Employee Retirement Administration Commission by the Massachusetts Water Resources Authority Employees' Retirement System
• Actuarial assumptions approved by the Retirement Board

The valuation and appropriation forecast are prepared in accordance with Chapter 32 of the M.G.L. as of January 1. The valuation and forecast do not account for:

• Any subsequent changes in the law
• Chapter 32 of the M.G.L., Section 3(8)(c) transfers between systems
• State-mandated benefits
• Cost-of-living increases granted to retired members between 1982 and 1997. The cost of these benefits has been assumed by the State under Proposition Two and One-Half.

The MWRA Employees' Retirement System’s most recent valuation was performed by The Segal Company as of January 1, 2017, as required under M.G.L. Chapter 32.