Retirement System

Valuation

This report presents the results of the actuarial valuation of the Weymouth Retirement System. The valuation was performed at the request of the Retirement Board as of January 1, 2016 for the purpose of determining the contribution requirements for Fiscal Year 2018 and beyond. The contribution requirements are based on:

  • The financial condition of the system as of December 31, 2015
  • The benefit provisions of M.G.L. Chapter 32 and related statutes
  • The demographics of members in the system (i.e., active and inactive participants, retirees and beneficiaries as of January 1, 2016);
  • Economic assumptions regarding salary increases and investment earnings; and
  • Other actuarial assumptions (e.g., withdrawals, retirement, death, etc.)