Actuarial Reports

Employee's Retirement Plan

The County’s retirement plan is administered by the Marin County Employees’ Retirement Association (MCERA), a cost-sharing multiple employer defined benefit plan that provides retirement, disability, and death benefits to its general and safety members. The retirement benefits within the plan are tiered based on the date of the member’s entry into MCERA membership. Additional information regarding the benefit structure is available by contacting MCERA. 

Each year MCERA's independent actuary completes an actuarial valuation, which is presented to the Retirement Board. The actuarial valuation measures the current and projected assets and liabilities of the retirement system as well as the system's funded status. Based on the results the Retirement Board adopts new member and employer contribution rates for all participating employers for the upcoming fiscal year.

MCERA Actuarial Valuation Reports

The Governmental Accounting Standards Board (GASB) is an independent organization that establishes and improves standards of accounting and financial reporting and is recognized as the official source of generally accepted accounting principles (GAAP) for U.S. state and local governments.

In June 2012, GASB issued Statements 67 and 68, which changed the accounting and financial reporting for public pension plans and employers who participate in those plans. The new statements separate the accounting and financial reporting requirements for employer financial statements from the funding policies used by the pension plan to determine the annual contribution rates.

MCERA GASB 67/68 Reports

Additional information:

• GASB 67/68 Summary and FAQs

Other Post-Employment Benefits (OPEB)

The County sponsors an “other postemployment benefits” (OPEB) healthcare plan to provide medical and dental insurance benefits to eligible retired employees. The OPEB plan is administered by CalPERS, and MCERA manages the medical and dental provisions for retired employees on the County’s behalf.  

In June 2015, GASB issued Statements 74 and 75, which changed the accounting and financial reporting for OPEB plans and employers who participate in those plans. The new statements separate the accounting and financial reporting requirements for employer financial statements from the funding policies used by the OPEB plan to determine the annual contribution rates.

• OPEB – Actuarial valuations for fiscal years 2021/22 & 2022/23 Funding Information
• OPEB – Actuarial valuations for fiscal years 2019/20 & 2020/21 Funding Information
• OPEB - Actuarial valuations for fiscal years 2017/18 and 2018/19 Funding Information
• OPEB - Actuarial valuations for fiscal years 2015/16 and 2016/17 GASB 45
• OPEB - Actuarial valuations for fiscal years 2013/14 and 2014/15 GASB 45
• OPEB - Actuarial valuations for fiscal years 2011/12 and 2012/13 GASB 45
• OPEB - Actuarial valuations for fiscal years 2009/10 and 2010/11 GASB 45

• GASB 75 Report 6/30/2022 (6/30/2021 Measurement Date)
• GASB 75 Report 6/30/2021 (6/30/2020 Measurement Date)
• GASB 75 Report 6/30/2020 (6/30/2019 Measurement Date)
• GASB 75 Report 6/30/2019 (6/30/2018 Measurement Date)
• GASB 75 Report 6/30/2018 (6/30/2017 Measurement Date)