Published on 05/17/2010

On May 7th Matt Smith, the Washington State Actuary presented a review of the status of the LEOFF 1 Pension Plan at the the Washington State LEOFF 1 Education Association Conference. We were disappointed beause our schedule did not permit us to remain for the last day of this conference and Matt's presentation. It turns out we did not miss much.

It turns out that the presentation is essentially the same presentation given to the Medical Benefits Committee in August of last year. While there was some freshening of data with the inclusion of the 2010 COLA information the core assumptions and preditctions are unchanged.

You can read the full August report here.
If you follow this link you can download the slides from the latest presenation.

You will note that the graphs in both presentations are the same.

The bottom line is the LEOFF 1 System remains healthy and is expected to fully recover over time even though it has taken a serious hit in the recent financial downturn.

As before, do not anticipate the addition of new benefits.

We anticipate better figures later this year when the the interim valuation has been completed.