Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

When does our pension plan obtain an Act 205 actuarial valuation report?

April 26, 2017ACT actuarial obtain pension plan report valuation

0

Posted

When does our pension plan obtain an Act 205 actuarial valuation report?

1 Answer

0

Posted

Municipalities will receive the Act 205 actuarial valuation report biennially. PMRS and its consulting actuarial firm provides a completed actuarial valuation report as required by Act 205. The municipality reviews and signs the report and forwards it to the Public Employee Retirement Commission. Actuarial valuation cost components are used to determine the annual financial requirements of the plan plus the data is used to calculate state pension aid for cities, boroughs, towns and townships.