PERAC Memo #8 - 2023: Actuarial Data

PERAC Memo # 8 / 2023 M E M O R A N D U M TO: All Retirement Boards FROM: John W. Parsons, Esq., Executive Director RE: Actuarial Data DATE: January 30, 2023 At this time, we are requesting that Boards submit data for active members, retirees/survivors and disability retirees as of December 31, 2022. Please submit the data by March 31, 2023 in the standard PERAC record format. The Interchange File Transfer website has recently been deactivated. We are currently working on a portal in PROSPER to allow for the submission of these files. The portal should be available on February 1, 2023. Please submit these files through the PROSPER portal. If you have any questions about this, please contact John Boorack. After we receive your data, you will receive data analysis reports that you can use to review and/or correct any questionable items, warnings or errors that are identified in your data. We are available to work with you as you review the data analysis reports. We strongly recommend sound data maintenance practices to ensure that actuarial valuations are reliable and may be completed in a timely manner. If you are scheduled to have an actuarial valuation performed by PERAC in 2023, you should have previously received a separate request for the data. Thank you for your cooperation in this regard. p:\actuaria\forms\noval23datareq.docx PERAC Auditor SUZANNE M. BUMP | KATHLEEN M. FALLON | KATE FITZPATRICK | JAMES J. GUIDO | RICHARD MACKINNON, JR. | JENNIFER F. SULLIVAN, ESQ. JOHN W. PARSONS, ESQ., Executive Director FIVE MIDDLESEX AVENUE, SUITE 304 | SOMERVILLE, MA 02145 PH 617 666 4446 | FAX 617 628 4002 | TTY 617 591 8917 | WWW.MASS.GOV/PERAC COMMONWEALTH OF MASSACHUSETTS | PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION COMMISSION PHILIP Y. BROWN, ESQ., Chair