PERAC Memo #26 - 2022: Appropriation Data Due October 31, 2022
Appropriation Data Due October 31, 2022
View original on mass.gov →Summary
This memo requests that retirement boards submit appropriation data by October 31, 2022, needed for PERAC to calculate FY24 appropriation amounts for all governmental units under G.L. c. 32, §§ 22D, 22(6A)(b), or 22F. Boards should submit the questionnaire through the PERAC website rather than by hard copy, and PERAC notes it will no longer include the five-year projection page in appropriation memos — future payment projections are available in each system's current funding schedule.
Full Text
M E M O R A N D U M
TO: All Retirement Boards
FROM: John W. Parsons, Esq., Executive Director
RE: Appropriation Data Due October 31, 2022
DATE: October 14, 2022
At this time, we are requesting information necessary for us to furnish you with the amounts to be appropriated by all governmental units for FY24, in accordance with your funding schedule, under the provisions of G.L. c.32, §22D, §22(6A)(b) or §22F. Please fill out the questionnaire and return it to us as soon as possible, but no later than October 31, 2022.
We are not providing a hard copy of the questionnaire with this Memorandum. We strongly encourage you to submit the data through the PERAC Web Site. The questionnaire can be found on the PERAC Web Site at www.mass.gov/PERAC. On PERAC's Home Page, select: About PERAC/PERAC Units/Actuarial/Appropriation Data Questionnaire and follow the instructions. For those boards who wish to send a hard copy of the questionnaire to PERAC, we recommend you print the form off of our Web Site, fill in the responses and mail the form to the Actuarial Unit.
In past years, the appropriation memorandum contained a page with a 5-year projection of appropriation payments. We will no longer be including this page in the memorandum. Future appropriation payments can be found in the System's current funding schedule. Some systems may use the information contained on the projection page to transfer monies from the Pension Reserve Fund to the Pension Fund. Please note that those systems who need to make such a transfer can petition the Actuary for approval under the provisions of Section 22(6A)(b).
If you have any questions regarding this memo, please contact John Boorack at 617-666-4446, extension 935.