PERAC Memo #8 - 2024: PROSPER COLA Submission is almost here!
PROSPER COLA Submission is almost here!
View original on mass.gov →Summary
Starting January 30, 2024, retirement boards can submit annual COLA approvals and COLA base changes entirely through PROSPER, replacing the previous paper-based process. Step-by-step instruction manuals are attached. Board staff with the Finance role in PROSPER will automatically have access; boards needing to add new users should complete the Individual Account Request Form and return it to PERAC's PROSPER Help Desk.
Full Text
Memorandum Memorandum PERAC Memo #08: PROSPER COLA Submission is almost here! Date: 01/30/2024 Referenced Sources: PERAC Website PERAC Memo #08, 2024
To All Retirement Boards: TO: All Retirement Boards
FROM: John W. Parsons, Esq., Executive Director
RE: PROSPER COLA Submission is almost here!
DATE: January 29, 2024
PROSPER COLA Submission is almost here!
Beginning January 30, 2024, PROSPER users will be able to submit and facilitate both COLA and COLA Base Submissions entirely within PROSPER. We are excited to provide you with this new feature in PROSPER which will allow users to electronically submit all required documentation for annual COLA approvals and for changes to the COLA base. This will enable the Boards and PERAC to maintain accurate records and streamline this process.
We have attached Manuals that provide step by step instructions to assist you with the new portal.
Board staff who currently have the Finance role in PROSPER will automatically have access to the COLA application. If your board needs to add a new staff member to access the COLA application, please fill out the Individual Account Request Form for PROSPER (attached and available on our website), select the Finance role, and submit the form with all required signatures to PERAC, Attention: PROSPER Help Desk. You can mail the hard copy to our office or scan the completed form and email it to PER-ProsperHelp@per.state.ma.us.
If you have any questions or need to get a member of your team on PROSPER now, please do not hesitate to reach out to our help staff at: PER-ProsperHelp@per.state.ma.us.
Thank you for your cooperation.