PERAC Memo #9 - 1999: Actuarial Valuation Reports

PERAC MEMO #9/1999 M E M O R A N D U M TO: All Retirement Boards FROM: Joseph Martin, Deputy Executive Director RE: Actuarial Valuation Reports DATE: February 1, 1999 PERAC is engaged in an ongoing effort to make comprehensive pension information available to the active and retired public employees of Massachusetts and to those professionals involved with retirement issues. As part of this initiative, PERAC’s Communications Unit will post actuarial valuation studies, along with other information, in a new section of PERAC’s Internet Home Page. In response to a number of requests, we plan on presenting information in this section in a board-by-board format. Visitors to PERAC’s Home Page will be able to select the retirement board of their choice and view a number of different documents associated with that board. This approach will meet the goal of presenting a well-rounded and up-to-date profile of each retirement system and guarantee more rapid access to information. Please provide PERAC’s Communications Manager, Sarah Kelly, with a copy, on cassette tape or 3-¼ inch diskette, of any actuarial valuation study conducted by a private actuary for your retirement system during 1998 and copies of all such studies that are completed thereafter. Upon your receipt of a finalized, hard copy version of any actuarial study completed in 1999, please ensure that an electronic copy of it is forwarded to PERAC. We recognize that it will be necessary for you to do some backtracking to obtain electronic copies of actuarial studies that were completed in 1998. We would like to receive these reports by March 31, 1999, if at all possible. It is important to transmit the information to PERAC in a timely fashion, since the more up-to-date the information is, the more valuable it will be to our Web Site visitors. We can work with Word, Word Perfect and EXCEL documents or any combination thereof. Because these documents do not contain confidential information, you may exercise the option of e-mailing them to Ms. Kelly. Ms. Kelly’s e-mail address is Sarah.Kelly@state.ma.us. If you or your actuary has any question with regard to this new initiative, please contact Actuary Jim Lamenzo at 617-666-4446, extension 921 or Sarah Kelly at extension 970.