This report presents the City of Taunton actuarial valuation findings as of January 1, 2016, under the Commonwealth of Massachusetts Retirement System.
The actuarial valuation is based on:
- Provisions Chapter 32 of the Massachusetts General Laws, "M.G.L", as of January 1, 2016.
- Employee data provided by the Retirement Board.
- Asset information reported to the Public Employee Retirement Administration Commission by the Taunton Contributory 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, 2016. 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.