Census data can often be requested and provided after the valuation date of the report as actuarial valuations are performed throughout the year. Since clients keep accurate records of current retirees receiving post-employment benefits which are generally updated frequently, some retirees may be left off the information provided as their benefits have ended at the time the census data is provided. Though these individuals may no longer be seen as a cost/liability to the employer since, at the current point in time, their benefits have been exhausted, they still need to be accounted for and included in the valuation if they were still receiving benefits as of the valuation date. By excluding such retirees, the determined liability would, in essence, be understated since it would be missing amounts paid out to retirees after the valuation date.
When providing census information to your actuary for use in preparing your OPEB and/or Supplemental Pension valuation, specifically in regards to your current retiree population, be sure it encompasses all participants as of the valuation date of the report. This will ensure that the determined liabilities accurately represent all current and future obligations.