TO: All Retirement Boards

FROM: Frank E. Valeri, Deputy Director

RE: Preparation of the Annual Statement Classes

DATE: January 13, 2012

It is time for the preparation of the Annual Statement, which must be completed, signed, and returned to the Public Employee Retirement Administration Commission (PERAC) by May 1, 2012.  One of our Auditors will be assigned to work with retirement systems to provide technical assistance as needed.

The Annual Statement publications are distributed primarily via compact disc (CD). However, printed copies of all of the documents are also available upon request.  

The attached CD contains the 2011 Annual Statement, a Sample Annual Statement, and the guide, Preparing the Annual Statement in PDF.  All of these documents are designed to be printed on 8 ½ by 11 paper.  

As you were recently informed via PERAC Memo # 38 of 2011, retirement board members may satisfy the newly established three-hour (minimum) annual education requirement by attending one of the classes listed above.  As always, the class is also open to retirement board administrators.

To make reservations, please e-mail Katie Bozzi at

  1. January 24, 2012 at 10:00 a.m. at the PERAC Offices, 5 Middlesex Avenue, 3rd Floor, Somerville, MA.       Snow date is January 25, 2012.  
  2. February 9, 2012 at 10:00 a.m. at the West Springfield Municipal Office Building, 26 Central Street, West Springfield, MA.  Snow date is February 10, 2012.  
  3. February 14, 2012 at 10:00 a.m. at the PERAC Offices, 5 Middlesex Avenue, 3rd Floor, Somerville, MA.    Snow date is February 15, 2012.

In addition to an in-depth review about how to prepare the Annual Statement, PERAC Auditors will also discuss recent changes governing remote participation requirements, regular compensation, buy backs of creditable service, and requirements for procurement files.  

Pre-closing cashbook and trial balance for December 2011 should be submitted to PERAC prior to February 28, 2012.  If you encounter difficulties with this deadline, please contact me directly.

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