REQUIREMENTS FOR RETIREMENT BOARD FINANCIAL REPORTING

How can I find out about the financial condition of the system of which I am a member?

• Reporting Period
  Each board is required to prepare an annual report, in an easily understood format, which shows the financial condition of the system as of December thirty-first of the previous year.
  
  
• Report Contents
  The report must include:
  •   the financial transactions,
  
  •   statistical information about the membership,
  
  •   a summary of the most recent audit findings,
  
  •   a summary of the board’s investment policy,
  
  •   a summary of the system’s investment portfolio, and
  
  •   information pertaining to the most recent actuarial valuation.
  
  A copy of this report or a summary of its contents is available to any member upon request.
  
  
• The PERAC Annual Report
  PERAC prepares an annual report about the Commission’s activities as well as those of each of the 106 public employee retirement systems. Each year’s report is posted on PERAC’s Home Page: www.mass.gov/perac.