PERAC Memo #31 - 1997: Appropriation Data Due October 31, 1997
Appropriation Data Due October 31, 1997
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PERAC Memo #31/1997 requests that all retirement boards complete and return the attached appropriation questionnaire by October 31, 1997, providing FY98/FY99 appropriation figures, pension payroll data, reimbursement amounts, and COLA information needed to calculate FY99 appropriations under G.L. c. 32, §22D or §22(6A)(b). Boards must ensure the data is accurate and complete, since PERAC will otherwise use conservative estimates that could result in significantly higher required appropriations. No other action is needed beyond timely, accurate submission of the questionnaire (and the underlying actuarial report, if not already provided).
Full Text
PERAC MEMO #31/1997 M E M O R A N D U M TO: All Retirement Boards FROM: Robert F. Stalnaker, Executive Director RE: Appropriation Data Due October 31, 1997 DATE: September 9, 1997 At this time we are requesting information necessary for us to furnish you with the amount to be appropriated for FY99, in accordance with your funding schedule, under the provisions of G.L. c. 32, §22D or §22(6A)(b). Please fill out the attached questionnaire with the appropriate information in the spaces provided and return it to us as soon as possible, but not later than October 31, 1997. Incorrect, incomplete or unsubmitted information will result in PERAC estimating such data using very conservative assumptions which could lead to significant increases in appropriations. If you have any questions regarding this memo, please contact Jim Lamenzo, PERAC’s actuary at 617-727-9380 x627. RFS/JL actuaria/approp/ques22d6 Attachment
--1-- QUESTIONNAIRE - APPROPRIATION DATA DUE 10/31/97 System__________________________________ lA. The Fiscal 1998 total pension appropriation enacted by your governmental unit(s). (This should include all units within your system, but should not include expenses.) $_____________ lB. The scheduled appropriation for Fiscal Year 1999. $_____________ Please include the actuarial report from which these amounts were determined if you have not already submitted it to us. 2. The yearly amount of pensions (include state funded COLA, but not annuities or retroactive payments) payable as of September 30, 1997 (i.e., the September 30 pension portion of the retirement payroll minus any retroactive payments, multiplied by 12) $____________ 3A. Any amounts received and credited to the Pension Fund under Section 3(8)(c) (Reimbursements from other governmental units for a portion of the pension of a retired member) and under Section 7(4)(b) (reimbursement for pension of member injured rendering authorized aid to other governmental unit) for the period July 1, 1996 through June 30, 1997. $____________ 3B. Any amounts paid by and charged to the Pension Fund under Section 3(8)(c) (Reimbursements to other governmental units for a portion of the pension of a retired member) and under Section 7(4)(b) (reimbursement for pension of member injured rendering authorized aid to other governmental unit) for the period July 1, 1996 through June 30, 1997. $_____________ 4A. The total amount of the state funded cost-of-living payments for benefits payable during the period July 1, 1996 through June 30, 1997 which have been reimbursed by the State as of September 30th. $______________
--2-- QUESTIONNAIRE - APPROPRIATION DATA DUE 10/31/97 System__________________________________ 4B. The total amount of the state funded cost-of-living reimbursements for benefits payable during the period July 1, 1996 through June 30, 1997 which are owed and have not yet been received. $______________ 4C. The sum of A and B. $______________ 5. The total amount of pension payments (include state funded COLA, but not annuities)made from the period July 1, 1996 through June 30, 1997. $______________ 6. Indicate whether any city, town or district (or any town or district within your system) has accepted the provisions of 90A, 90C or 90D (Increasing allowances of former employees) since July 1, 1996. 90A (Acc. Dis.) No________Yes__________ 90C (Super. with 25 yrs.) No________Yes__________ 90D (Ord. Dis. with 25 yrs.) No________Yes__________ If the answer is Yes to any of the above, please indicate below the section(s) accepted, the effective dates, the number of members who received increased benefits and the total amount of increase in benefits due to the acceptance. (Attach an additional sheet if necessary.) UNIT SECTIONS EFF. DATE NUMBER AFFECTED BENEFIT INCREASE
--3-- QUESTIONNAIRE - APPROPRIATION DATA DUE 10/31/97 System__________________________________ 7. Please give dates and amounts of appropriation payments made for Fiscal Year 1997 for your system. (County systems may skip this question.) /_____/ $__________________ /_____/ $__________________ /_____/ $__________________ /_____/ $__________________ /_____/ $__________________ /_____/ $__________________ 8. Please give amount approved by your board for expenses for fiscal 1998 (please enclose a copy of the approved budget) $__________________ 9. Who should be called if we have any questions on this report? Name:_______________________________________________ Telephone No:________________________________________ CITIES AND TOWNS Kindly furnish us with the number of active members in your system and the aggregate annual rate of regular compensation for these members as of September 30, 1997. If your system contains units, such as a housing and/or redevelopment authority or a district, please furnish the information as to the number of members and their aggregate annual rate of regular compensation separately. (This does not mean departments within a city or town.) In the first section below, please include only those members whose salary is not paid by federal grant monies. In the second section, please include only those members whose salary is paid by federal grant monies. This second group will be used only for purposes of reconciliation, but will not have a pro-rata share of the Pension Fund appropriation. Instead, 9% of federal grants should be paid to the Pension Reserve Fund for them.
--4-- I. NON-FEDERAL GRANT EMPLOYEES ANNUAL RATE UNIT NO. OF MEMBERS OF COMPENSATION
TOTAL $_________________ II. FEDERAL GRANT EMPLOYEES ANNUAL RATE UNIT NO. OF MEMBERS OF COMPENSATION
TOTAL $_________________
--5-- QUESTIONNAIRE - APPROPRIATION DATA DUE 10/31/97 System:_______________________________ COUNTIES Kindly list on a separate sheet the units comprising your system with the total aggregate annual rate of regular compensation and the number of active members who are not paid by federal grants for each unit as of September 30, 1997. In addition, please compile a comparable list for those members who are paid by federal grants. This second group will be used only for purposes of reconciliation, but will not contribute any part of the Pension Fund appropriation. Instead, a contribution of 9% of federal grants should be paid to the Pension Reserve Fund for them. actuaria/approp/ques22d6