Code of Massachusetts Regulations
840 CMR - PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION COMMISSION
Title 840 CMR 4.00 - Financial Operations/standard Method of Accounting
Section 4.03 - Copies to Be Sent to PERAC

Universal Citation: 840 MA Code of Regs 840.4

Current through Register 1531, September 27, 2024

(1) After all entries for the month have been posted, the board shall send to PERAC in the prescribed format the following for the month:

(a) monthly cash receipts;

(b) monthly cash disbursements;

(c) monthly adjusting journal entries;

(d) monthly general ledger; and

(e) year-to-date trial balance.

The following chart indicates the due dates for the monthly cash books:

Month of Accounting

Due Date

January

May 31st

February

May 31st

March

June 30 th

April

June 30 th

May

July 31st

June

July 31st

July

August 31st

August

September 30th

September

October 31st

October

November 30th

November

December 31st

December*

March 31st

The State and Teachers systems will not be subject to this timeline as they operate on the State fiscal year.

(2) The board shall send or have sent to PERAC a copy of all custodian statements received by the board within four weeks of the close of the month. Such statements shall be separated into the following five categories: cash, short term investments**, fixed income investments, equities, and pooled funds. Such statements shall include, but not be limited to:

(a) monthly custodian bank statements which detail transaction activity including investment income, investments purchased, accrued interest paid, investments sold, book value of investments sold, profit/loss on investments sold, accrued interest sold, cusip numbers, name of brokers and commissions paid, trade receivables and payables, trade dates, settlement dates and actual settlement dates.

(b) monthly account appraisal which provides an alphabetical listing of assets held for each category; information for each asset should include a complete description of the asset, cusip numbers, number of shares, book value and market value.

(3) The board shall send or have sent to PERAC a copy of all manager statements received by the board within four weeks of the close of the month. Such statements shall detail the activity of the retirement system including purchases and sales of fund shares, income, dividend re-investments, fund expenses, and ownership interest of the retirement system in any commingled funds including, but not limited to, separate accounts, bank pooled funds, mutual funds, group trusts and limited partnerships.

(4) The board shall send or have sent to PERAC a copy of all Consultant statements received by the board within four weeks of the close of the month. Such statements shall include quarterly and year to date performance figures, listing of assets, asset allocations, and individual asset appraisal values.

* Along with the December cash books, the board should also provide a January-December post-close trial balance and general ledger.

** Short term investments are defined as U.S. Treasury Bills, Commercial Paper, Certificates of Deposit, Repurchase Agreements, Cooperative Shares, Savings and Loan Shares, Money Market and Term Deposits.

Disclaimer: These regulations may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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