PERAC Memo #11 - 2010: IRS Checksheet

IRS Checksheet

Summary

PERAC advises boards that the IRS has issued a "checksheet" requesting additional information related to the pending group Determination Letter request, and that some boards have received this document directly via fax (addressed to tax counsel Mary Beth Braitman with a copy to the board). Boards should take no action themselves—PERAC's tax counsel (Ice Miller) will respond to the IRS on behalf of all boards by the February 13, 2010 deadline—and should simply file the document with their records, as all 105 Massachusetts retirement boards are expected to receive similar correspondence.

Full Text

MEMORANDUM #11, 2010 M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: IRS Checksheet DATE: February 1, 2010 It has been brought to our attention that several Boards have received a communication from the IRS in regard to the pending Determination Letter request. This document has been faxed to several Boards. The fax is addressed to Mary Beth Braitman, one of the attorneys at Ice Miller who is representing all of us in this matter, and is copied to the individual Retirement Board. A letter attached to the fax explains that more information is needed in regard to the request for a Determination Letter. The letter gives a deadline of February 13, 2010 for complying with the request. This request is in the form of what the IRS calls a “checksheet” and this checksheet is three pages long. Please be assured that our tax counsel will respond to this request on your behalf and answer the questions on the checksheet within the time allowed. You should NOT attempt to answer this inquiry. Please just file this with your records in regard to the request for a Determination Letter.
Based on the questions posed on the checksheet, we anticipate all of the 105 Retirement Boards in Massachusetts configured under G.L. c. 32 will be receiving this communication from the IRS. Thank you for your continued cooperation in this regard.