• Establishment of reasonable actuarial assumptions, • Assistance with the preparation and analysis of membership data for the evaluation, • Determination of the funded position of the System with costs and liabilities separated by department or governmental unit based on actuarial split, • Review of the System’s present funding schedule to determine whether the existing schedule will ensure that the System’s funding is sufficient to meet the requirements of M.G.L 32 Section 22D existing funding schedule, • Assessment and determination of potential options to the funding program, • Preparation as needed of reporting and disclosure information as required by the Governmental Accounting Standards Board (GASB), for audited financial statements, governmental agencies and other interested parties, • Preparation of a written actuarial report with a recommended funding schedule in accordance with Sections 22D and 103 of MGL Chapter 32, • Discussion of the funding schedule with PERAC, • Preparation of a written Supplemental Report incorporating an alternative salary increase assumption, investment return assumption, and special funding schedules, and • Periodic attendance at board meetings.
