The actuarial valuation is a review of the financial position of LAPP and shows whether contribution rates need to be higher or lower to ensure the long-term funding of the Plan. An actuary prepares an actuarial valuation for LAPP every year. Under the new joint sponsorship, both Boards are involved in aspects of performing an actuarial valuation and setting contribution rates for the Plan.
Prior to governance changes that took effect March 1, 2019, the Board of Directors conducted an actuarial valuation on the Plan each year.
LAPP members and employers can request a copy of the most recent actuarial valuation by writing to us at the following link:
Request Actuarial Valuation