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Actuarial Reports

The commonwealth sponsors two health care plans – the Retired Employee Health Program (REHP) and the Retired Pennsylvania State Police Program (RPSPP) – that allow eligible retirees or annuitants and their dependents to continue subsidized health care coverage through the commonwealth for the life of the retiree. Prior to 2007, the commonwealth reported the cost of retiree medical benefits on a cash basis.

On July 1, 2007, Pennsylvania implemented Governmental Accounting Standards Board Statement No. 45, Accounting and Financial Reporting by Employers for Post-Employment Benefits Other Than Pensions. By doing so, the commonwealth recognizes the cost of other post-employment benefits during the periods when service is rendered. This improves financial reporting by providing timely information about the size of the liabilities and the extent to which they are funded.

The commonwealth retains an actuary to perform an actuarial valuation of the post-employment medical plan in order provide an estimate of the actuarial accrued liability and annual required contribution in accordance with GASB statements 43 and 45.

Reports on Other Post-Employment Benefits

Latest reports 

Actuarial Valuation of the Commonwealth's Other Post-Employment Benefits: RPSPP (August 2015) (PDF)

Actuarial Valuation of the Commonwealth's Other Post-Employment Benefits: REHP (August 2015) (PDF)

 

prior year reports

Actuarial Valuation of the Commonwealth's Other Post-Employment Benefits: RPSPP and REHP (August 2013) (PDF)

Actuarial Valuation of the Commonwealth's Other Post-Employment Benefits: RPSPP and REHP (September 2011) (PDF)

Actuarial Valuation of the Commonwealth's Other Post-Employment Benefits: RPSPP and REHP (October 2009) (PDF)