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FRS Mortality Methodology

FRS Mortality Tables and Methodology

During the 2015 legislative session, changes were enacted to sections 112.63 and 112.664, Florida Statutes, which require local government pension plans to use the mortality tables used in either of the two most recently published actuarial valuation reports of the Florida Retirement System (FRS), including the projection scale for mortality improvement, and appropriate risk and collar adjustments based on plan demographics. These changes go into effect on Jan. 1, 2016, and are to be used in preparing the local plans’ actuarial valuations and actuarial disclosures.

Copies of recent FRS actuarial valuations may be found on the FRS website on the Publications page. The mortality methodology is described in Appendix A of the valuation.