PERAC Memo #43 - 2000: Appropriation Data Due October 31, 2000

Appropriation Data Due October 31, 2000

Summary

PERAC Memo #43/2000 requests that retirement boards submit appropriation data—via the enclosed questionnaire or PERAC's website—needed to calculate each board's FY02 appropriation under G.L. c.32, §22D or §22(6A)(b). Boards must complete and return the questionnaire by October 31, 2000, and should confirm that a funding schedule has been submitted to PERAC for approval within the past three years, as failure to do so may result in conservative assumptions being used that could significantly increase the required appropriation.

Full Text

PERAC MEMO #43/2000 M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Appropriation Data Due October 31, 2000 DATE: September 26, 2000 At this time, we are requesting information necessary for us to furnish you with the amount to be appropriated for FY02, 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, 2000. You have the option of completing this questionnaire via PERAC’s Web Site at www.state.ma.us/PERAC. On PERAC’s Home Page, we encourage you to select PERAC’s Units/Actuarial Unit/Appropriation Questionnaire. If you used last year’s form, you’ll notice that this year’s form is slightly different. We made some changes to simplify the process. Please note that retirement boards must submit a new funding schedule for PERAC’s approval at least every three years. If your board has not submitted a funding schedule within the past three years, PERAC may base its data estimates on conservative assumptions that could lead to a significant increase in your appropriation. If you have any questions regarding this memo, please contact PERAC’s Actuary, Jim Lamenzo at 617-666-4446, extension 921.