California Actuarial Advisory Panel (CAAP)
The California Actuarial Advisory Panel (CAAP) was created by Senate Bill 1123 and chaptered in State law in September 2008.
The CAAP is required to provide public agencies with impartial and independent information on pensions, other post employment benefits, and best practices, and report those recommendations to the Legislature on or before February 1 of each year.
The CAAP consists of eight actuaries, appointed by various public officeholders and agencies. The appointees generally serve terms of three years.
Under the law, the Governor appoints two of the panelists. In addition, one panelist is appointed by each of following:
- The Teachers' Retirement Board;
- The Board of Administration of the Public Employees' Retirement System;
- The State Association of County Retirement Systems;
- The Board of Regents of the University of California;
- The Speaker of the Assembly; and
- The Senate Committee on Rules.
Each appointed member must be an actuary. Each member serves a three-year term. However, in the initial appointments, the panelists named by the Board of Regents of the University of California, the Senate Committee on Rules, and one of the panelists named by the Governor all serve two-year terms.
Under the law, the CAAP is located in the Controller's office, which also provides support staff to the panel.
The opinions of the CAAP are nonbinding and advisory only.
P.O. Box 942850
Sacramento, CA 94250-5872