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Agency 035
Office of the State Actuary
RCW 44.44
| Request | $1,688,048 | ||||||||||||||||||
| Net change from current biennium | $69,453 | Increase | |||||||||||||||||
| Percent change from current biennium | 4.3% | Increase | |||||||||||||||||
The Office of the State Actuary provides actuarial services for
the Department of Retirement Systems; advises the Legislature
and Governor regarding benefit provisions, funding policies, and
investment policies of the state retirement systems' assets; consults
with the Legislature and Governor concerning determination of
actuarial assumptions; prepares reports on each pension bill introduced
in the Legislature; and provides such actuarial services to the
Legislature as may be requested.
The goal of the State Actuary is to provide the Legislature with
valuations of the state retirement systems.
The objectives of the State Actuary's office are to provide accurate
estimates of the fiscal impacts of proposed legislation and to
project actuarial results into the future to provide the long-range
impacts of changing pension costs.
| Operating Budget: Summary
| |||||||||||||||||||||
| 1995-97 Appropriations | Appropriated Funds | Expenditures | |||||||||||||||||||
| Amount | Estimated Balance | 1993-95 Actual | 1995-97 Estimated | 1997-99 Proposed | |||||||||||||||||
| 1,618,595 | Dept of Retirement Systems Expense - State | 1,483,291 | 1,618,595 | 1,688,048 | |||||||||||||||||
| Operating Budget: Summary by Object
| ||||||||||||||||||
| 1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
| Salaries And Wages | 450,248 | 506,378 | 512,955 | 519,003 | 532,432 | |||||||||||||
| Employee Benefits | 103,473 | 111,331 | 121,228 | 117,717 | 119,702 | |||||||||||||
| Personal Service Contracts | 41,527 | 19,500 | 20,500 | 24,500 | 24,500 | |||||||||||||
| Goods And Services | 170,973 | 159,180 | 150,133 | 150,506 | 135,987 | |||||||||||||
| Travel | 3,892 | 6,029 | 5,971 | 6,730 | ||||||||||||||
| Capital Outlays | 77,860 | 18,361 | 26,000 | 25,000 | ||||||||||||||
| Interagency Reimbursements | (27,657) | (7,000) | ||||||||||||||||
| Annual Total |
820,316 |
813,779 |
804,816 |
843,697 |
844,351 | |||||||||||||
| Fiscal Year 1993-94 | 662,975 | |||||||||||||||||
| Biennium Total |
1,483,291 |
1,618,595 |
1,688,048 | |||||||||||||||
| Operating Budget: Change from Preceding Biennium
| ||||||||||||||||||||||||||
| 1993-95 Actual | 1995-97 Estimated | 1997-99 Proposed | ||||||||||||||||||||||||
| Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||||||||||||
| Total Actuarial Studies | 232,133 | 18.6% | 135,304 | 9.1% | 69,453 | 4.3% | ||||||||||||||||||||
| Employment Summary
| ||||||||||||||||||||
| 1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||||
| FTE Staff Years | 9.3 | 9.7 | 8.9 | 9.5 | 9.5 | |||||||||||||||
| Average FTE Staff Year Costs | 48,414 | 52,204 | 57,635 | 54,632 | 56,045 | |||||||||||||||