In August 2012, the CalPERS Board of Administration revised the CalPERS OPEB Assumption Model (PDF) to require OPEB actuarial valuation and alternate measurement method (AMM) reports, prepared after August 15, 2012, use actuarial assumptions and methods that comply with Actuarial Standards of Practice and Governmental Accounting Standards.

Specific assumption values and methods required by previous iterations of the assumption model are not required by the August 2012 revision. Specific values or assumptions outlined in any documents or publications serve only as recommendations for assumptions to be used in OPEB valuations.

Below are additional details regarding assumptions used in the CalPERS pension valuation and information regarding implicit rate subsidy of CalPERS health plans.