IMPORTANT INFORMATION
2011 Financial (GASB) & Member Statements
UPDATED - PMRS will once again prepare each plan’s municipal financial statements and each member’s Annual Benefit Statement based upon a "first come, first served" policy. When all the paperwork necessary to complete the statements has been accurately filed with our office, the plan will be put into the queue for processing. A municipality’s pension plan will be ranked after the information is verified and posted to the associated accounts. This process takes about three weeks from receipt of the completed Fourth Quarter 2011 PMRB-21, Quarterly Report of Contributions until the plan is put into the queue. The placement of a plan in the queue can be seen on our website mid to late January. The queue will be updated daily once our staff begin generating financial statements.
Once our staff verifies all information is complete on the 1st, 2nd, 3rd, and 4th Quarterly Reports of Contributions for 2011, a plan will be placed in the queue for the processing. If a problem is discovered, the municipality will be contacted and the plan's processing will be delayed until the problem is resolved. It is the municipality's responsibility to provide PMRS with the necessary and correct information as soon as possible.
It is extremely important that our membership understand that a plan’s statements will not be prepared until the municipality has provided us with all of the information we need to properly administer the pension plan. A plan will not go into the queue until all issues are resolved.
Our goal is to allow our enrolled plans more control over the timely preparation of their financial statements and to make the statements as complete and accurate as possible. We have been extremely pleased with the success of this approach during the last several years and believe it is the fairest way to provide our 900+ pension plans with their financial and member statements. No exceptions to this policy will be made.
Issued January 18, 2012
Reissued February 3, 2012