PERAC Memo #4 - 2004: Electronic Versions of Actuarial Reports
Electronic Versions of Actuarial Reports
View original on MA State Library →Summary
This memo asks retirement boards to help PERAC keep its website's actuarial valuation database current, noting that many posted reports are outdated (over 3 years old) since PERAC only automatically has valuations it performs itself. Boards that use a private actuary should direct that actuary to submit an electronic copy of the completed valuation report directly to PERAC, ensuring the most recent valuation for each system is available online.
Full Text
Memorandum # 4/2004
M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Electronic Versions of Actuarial Reports
DATE: January 12, 2004
The PERAC home page was designed to provide the retirement community with easily accessible, up-to-date information. One important piece of information is actuarial valuations. Currently, there are 82 systems with reports available on the website. Of these, approximately half are outdated (more than 3 years old). Ultimately, we would like to have available on the website, the most recent actuarial valuation of each retirement system.
For any retirement system that has had an actuarial valuation performed by PERAC, the most recent valuation is available on the PERAC website. However, since many retirement systems have actuaries other than PERAC perform the valuations, the most recent valuations may not be available on our website.
In an effort to help make available the most recent valuations of each retirement system, a retirement system that uses a private actuary should request that the actuary, as part of the valuation process, provide a copy of the actuarial valuation in an electronic format directly to PERAC upon completion of the report. Your assistance with implementing and completing this request would be greatly appreciated.
If you have any questions, do not hesitate to contact this office.