Memorandum  #36: Information Needed for Calculation Approvals

Date:	12/12/2017
Referenced Sources:	PERAC Website

PERAC Memo #36, 2017

To All Retirement Boards:

M E M O R A N D U M

TO: All Retirement Boards

FROM: Joseph E. Connarton, Executive Director

RE: Information Needed for Calculation Approvals

DATE: December 11, 2017

 

There is some confusion about what documents are necessary to include when a retirement board seeks PERAC’s approval of a calculation. The following is a list of necessary items for each type of calculation. Please do not include extra materials not listed as part of the initial submission.

Superannuation/Member Survivor Option D Calculation Packet:

1. Calculation worksheet (include any notes regarding irregularities in service which are not immediately clear from the dates posted in the service boxes)
2. Annuity Savings Fund detail (with the appropriate interest credited through the retirement date)
3. Anti-Spiking worksheet (or sufficient information about which exception is met)
4. Proof of prior service

Accidental Disability Packet:

1. Calculation worksheet
2. Annuity Savings Fund detail (with the appropriate interest credited through the retirement date)
3. Copy of the email stating the transmittal has been approved by the Commission, or a copy of the signed transmittal
4. Worker’s compensation amounts and dates (only if you seek an offset letter)
5. Accidental disability retirement checklist (from PERAC memo #47 of 2009)
6. Appropriate payroll records

Ordinary Disability Packet:

1. Calculation worksheet (include any notes regarding irregularities in service which are not immediately clear from the dates posted in the service boxes)
2. Annuity Savings Fund detail (with the appropriate interest credited through the retirement date)
3. Copy of the email stating the transmittal has been approved by the Commission, or a copy of the signed transmittal
4. Anti-Spiking worksheet (or sufficient information about which exception is met) only for non veteran calculations

Accidental Death of Active Member Packet:

1. Calculation worksheet
2. Annuity Savings Fund detail (with the appropriate interest credited through the retirement date)
3. Copy of the email stating the transmittal has been approved by the Commission, or a copy of the signed transmittal

Accidental Death of Retiree Packet

1. Copy of the original approval letter
2. Worksheet showing the new calculated amount of the benefit
3. Copy of the email stating the transmittal has been approved by the Commission, or a copy of the signed transmittal

Section 101 Packet:

1. Copy of the original approval letter

Note that after reviewing the original documents, we may still have questions which may require the submission of additional documents. Please submit these additional documents only upon request. In most cases, the additional paperwork is unnecessary and creates a spacing problem in our files.

We trust the foregoing is of assistance. If you have any questions, do not hesitate to contact the actuarial unit.

Commission Members

Philip Y Brown, Esq., Chairman
Auditor Suzanne M. Bump
Kathleen M. Fallon
Kate Fitzpatrick
James M. Machado
Robert B. McCarthy
Jennifer F. Sullivan