POLICY NO: 99-001

Distribution of Commission Budget
The Public Employee Retirement Administration Commission is authorized by statute to adopt an annual budget and supplemental budgets as it deems necessary. These budgets are to be funded from the investment income account of the state retirement system and the teachers’ retirement system. The Commission believes that full disclosure of its budgets to all interested parties is good public pension policy. The Commission also believes that all interested parties must have access to reports of the actual spending of the Commission.

The Commission therefore establishes this policy to insure that its budgets and reports of its actual spending are fully disclosed and available to any interested parties. The Executive Director is hereby instructed to forward a copy of the Commission’s annual budget to the House and Senate Committees on Ways and Means, the Joint Committee on Public Service and the Secretary of the Executive Office of Administration and Finance after adoption of the annual budget by the Commission and at least thirty days prior to the commencement of the fiscal year to which the budget pertains. If the Commission adopts a supplemental budget, the Executive Director is directed to forward a copy of such supplementary budget to the House and Senate Committees on Ways and Means, the Joint Committee on Public Service and the Secretary of the Executive Office of Administration and Finance after adoption of any supplemental budget by the Commission and at least thirty days prior to the effective date of any supplemental budget. The Executive Director is further instructed to forward a report of actual spending to the House and Senate Committees on Ways and Means, the Joint Committee on Public Service and the Secretary of the Executive Office of Administration and Finance within ninety days of the end of the fiscal year.

Adopted at Commission meeting April 21, 1999.