PERAC Memo #32 - 2003: Appropriation Data Due October 31, 2003

Appropriation Data Due October 31, 2003

Summary

This memo requests data needed to calculate each board's FY04 appropriation under G.L. c.32, §22D or §22(6A)(b), with a revised questionnaire format (no benefit payment data, combined compensation figures). Boards must complete and return the questionnaire—preferably via PERAC's website—by October 31, 2003, and should contact PERAC if they have not submitted an updated funding schedule within the past three years, as one is required at least triennially.

Full Text

Memorandum # 32/2003

M E M O R A N D U M TO: Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Appropriation Data Due October 31, 2003

DATE: October 6, 2003

At this time, we are requesting information necessary for us to furnish you with the amount to be appropriated for FY04, 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, 2003. Please note, that this year’s questionnaire is somewhat different from years past. We are not requesting the benefit payment information and we are requesting the compensation figures include all compensation for active members (federal grant and non-federal grant no longer requested separately).

You have the option of completing this questionnaire via PERAC’s Web Site at www.mass.gov/PERAC. After entering PERAC’s Home Page, select Actuarial/Appropriation Questionnaire and follow the instructions. We encourage you to input your data through the web page.

Please note that retirement boards must submit a new funding schedule for PERAC’s approval at least once every three years. If your board has not submitted a funding schedule within the past three years, please contact us to discuss an updated schedule.

If you have any questions regarding this memo, please contact PERAC’s Actuary, Jim Lamenzo at 617-666-4446, extension 921.