MEMORANDUM #06, 2014

Commonwealth of Massachusetts | Public Employee Retirement Administration Commission
Five Middlesex Avenue, Suite 304, Somerville, MA 02145
Ph 617 666 4446 | Fax 617 628 4002 | TTY 617 591 8917 | www.mass.gov/perac
Domenic J. F. Russo, Chairman
Auditor Suzanne M. Bump | Philip Y. Brown, Esq. | John B. Langan | James M. Machado | Donald R. Marquis | Robert B. McCarthy

Joseph E. Connarton, Executive Director


M E M O R A N D U M

TO:            All Retirement Boards

FROM:     John W. Parsons, Deputy Director

RE:           Preparation of the Annual Statement Classes

DATE:      January 14, 2014

It is time to prepare the 2013 Annual Statement, which must be completed, signed and returned to the Public Employee Retirement Administration Commission (PERAC) by May 1, 2014.  PERAC auditors will be assigned to work with retirement systems to provide technical assistance as needed.

The Annual Statement publications consist of the 2013 Annual Statement, a Sample Annual Statement, and the guide, Preparing the Annual Statement. These documents are all currently available on the PERAC website www.mass.gov/perac. You are encouraged to read these materials carefully. There are only minimal changes from prior year filings. No new general ledger accounts are referenced for this current filing. Schedule 7 remains to improve the disclosure of investment-related fees.  

You can download these documents from our website, however, printed copies of all of the documents will also be available upon request. 

As you were previously informed via PERAC Memo # 37 of 2013, retirement board members may satisfy their three-hour (minimum) annual education requirement by attending one of the classes listed in that Memo.  As always, the class is also open to retirement board administrators

To make reservations, please e-mail Rose Cipriani at RCipriani@per.state.ma.us.

  1. Wednesday, January 15, 2014 at 10:00 a.m. at the PERAC Offices, 5 Middlesex Avenue, 3rd Floor, Somerville, MA.   
  1. Wednesday, January 22, 2014 at 10:00 a.m. at the Springfield Retirement Board, 70 Tapley Street, Springfield, MA.
  1. Wednesday, February 5, 2014 at 10:00 a.m. at the Danvers Town Hall, 1 Sylvan Street, Danvers, MA. 

 

The class is titled PERAC’s Annual Statement; Schedule 7. It is a course that covers the basic filing requirements involved in preparing the PERAC Annual Statement, discloses the issues that emerged in analyzing the Annual Statements filed in the previous 2012 period and discusses the emerging trends in accounting for the issues encountered in prior filing seasons.

Your pre-closing cashbook and trial balance for December 2013 should be submitted to PERAC prior to March 3, 2014.  If you encounter difficulties with this deadline, please contact PERAC directly.

Thank you for your cooperation in this year-end closing process.