CGFA staff has reviewed the State-funded retirement systems’ FY 2016 actuarial reports, which were issued prior to November 1st, pursuant to P.A. 97-0694, the State Actuary Law. Under the State Actuary Law, the systems must annually submit a proposed certification for the following fiscal year prior to November 1st of the current calendar year. The State Actuary then must issue a preliminary report concerning the systems’ proposed certification by January 1st. The State Actuary’s report must identify any recommended changes in actuarial assumptions based upon the review of the retirement systems’ actuarial assumptions.