SUMMARY

As required by statute, we contracted for an actuarial audit of the Wisconsin Retirement System (WRS). The limited-scope audit was conducted by the Segal Company and included verification of actuarial assumptions and valuation methods used for the WRS by the Department of Employee Trust Funds and its consulting actuary for the actuarial valuation as of December 31, 2013. Segal reported that its audit validated the 2013 WRS actuarial valuation, and Segal made several recommendations to improve the consulting actuary’s annual actuarial valuations.