Michael Harbour, actuary for the Office of the State Actuary, told the Select Committee on Pension Policy executive committee that members should expect two actuarial presentations at the committee's September meeting: a report on the financial condition of DRS‑administered plans and the state actuary’s recommended long‑term economic assumptions, which the committee may recommend to the Pension Funding Council.

Harbour said actuarial pricings prepared this summer could change if the committee adopts different assumptions later in the interim. He urged the committee to consider timing votes on potential legislation in November or December to reduce the chance that numbers shift between a committee endorsement and fiscal committee hearings during session.

Harbour also clarified a question from a prior full committee meeting: "the benefit Aaron referred to ... was from SSB 5791" (2022), and he distinguished that from a separate LEFT‑2 bill, SHB 1701 (2022). He offered to provide fiscal notes and further materials on request.

Committee members asked staff to confirm details with DRS and to double‑check any remaining confusion about which trust fund paid certain benefits. Harbour said he would confirm and notify the committee if further clarification was needed.

The actuary noted that previous fiscal notes on LEFT‑1‑related bills used a 7.0% assumed investment return; he and staff later observed that statute now sets the assumption at 7.25%, meaning earlier analyses would be updated if those bills move forward and if economic assumptions change.

No formal committee action was taken during the actuarial update; Harbour concluded by offering to take questions and to provide additional analyses requested by the committee.