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Actuaries present PERS experience study; recommend minor demographic tweaks, no change to core economic assumptions
Summary
Consulting actuaries from CABMAC told the Public Employees Retirement System of Mississippi on April 1 that they recommend keeping core economic assumptions in place while making modest demographic adjustments to match recent plan experience.
Consulting actuaries from CABMAC presented the Public Employees Retirement System of Mississippi’s biennial actuarial experience study on April 1 and recommended no material changes to the plan’s core economic assumptions while proposing modest demographic adjustments to better match recent experience.
Ed, the presenting actuary from CABMAC, told trustees the firm’s overall conclusion was “we're not changing much or we're not recommending changing much.” CABMAC recommended retaining a 2.4% price-inflation assumption, a 7% nominal investment-return assumption (about 5% real return in their development), and a 2.65% payroll growth assumption. On demographic assumptions, CABMAC proposed liability-weighted adjustments for mortality, modest revisions to retirement and…
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