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    Hello Christine, We have realized that we...

    Hello Christine,

    We have realized that we need to find a way to ensure that all our management fee disbursements are supported by manager invoices that “match” and have wondered how others make...
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    Hello Ran, We here at NM PERA also have...

    Hello Ran,

    We here at NM PERA also have issues arise with the calculation and payment of investment management fees. We’ve created a spreadsheet with a worksheet for each manager that will...
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    Yes, we accept post-tax contributions. This only...

    Yes, we accept post-tax contributions. This only comes up when our members are buying eligible service time and have to dig into their own wallets for the purchased time. We will accept both pre-...
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    Hi Ran, We recalculate all investment management...

    Hi Ran,
    We recalculate all investment management fee invoices as well. We have a policy that we always use the custodian ending values for the calculation. Sometimes that needs to be amended within...
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    Management Fee Invoice Handling

    Good morning. May we ask other P2F2 members how Investment Management Fee invoices received are handled and how calculation differences are resolved?

    Our team calculates investment management...
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    Hello Mark, I am responding to your question...

    Hello Mark,

    I am responding to your question about after-tax contributions. NYS Employees' and NYS Police and Fire are 401(a) defined benefit plans. We accept after-tax contributions only when a...
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    Ohio PERS collects both pre- and post-tax...

    Ohio PERS collects both pre- and post-tax contributions. The contributions are stored in our system using a unique employer code. When the member’s benefit is calculated in the pension system, the...
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    Hello Mr. Jordan: I am the tax compliance...

    Hello Mr. Jordan:

    I am the tax compliance manager for the California State Teachers’ Retirement System. I saw your question regarding post-tax contributions. We accept some post-tax contributions...
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    Thanks for your input. We currently calculate...

    Thanks for your input. We currently calculate the basis recovery and put it in box 5 on the Members 1099-R. However, our pension system seems to have difficulty with the calculation due to the...
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    IMRF does accept previously-taxed payments for...

    IMRF does accept previously-taxed payments for the purchase of permissive service credit (past service applications). All contributions for current service are tax-deferred under IRC 414(h).

    The...
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    Mark - Yes, we accept after tax contributions...

    Mark -
    Yes, we accept after tax contributions for lump sum service credit purchases, payroll deduction service credit purchases, transfer credit contributions from one of the other Ohio systems and...
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    Reporting "Basis Recovery" on 1099R

    Does your system accept taxed contributions and if so, do you calculate the Basis Recovery for tax reporting on the 1099-R form? Also, would you be willing to provide your contact information so we...
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    We are facing some tough budget times in North...

    We are facing some tough budget times in North Dakota and we are looking for ways to “prove our worth” so to speak. Here in ND we need legislative approval each biennium for all salaries, operating...
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    Here is a link to Ohio PERS PAFR. Please let me...

    Here is a link to Ohio PERS PAFR. Please let me know if you have any additional questions.

    https://www.opers.org/pubs-archive/financial/pafr/2016%20PAFR.pdf


    Cathy Blalock
    Assistant Director...
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    Hi Hong: The Teacher Retirement System of...

    Hi Hong:

    The Teacher Retirement System of Texas reports aggregate investment fees for private market investments in the investment section of our CAFR, including management fees and performance...
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    Hi Hong, Please see South Carolina Retirement...

    Hi Hong,

    Please see South Carolina Retirement System’s response below. If you have any further questions on this topic, don’t hesitate to call or email me.

    Thanks—Andrew


    • We report...
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    Private Investment Fees

    The Arizona State Retirement System (ASRS) is required by legislature to disclose aggregate investment fees for private market investments, including management fees and performance fees. Currently,...
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    1. At what level are you required to receive...

    1. At what level are you required to receive legislative approval for your expenses? Our fund has its own board of trustees who is responsible for approving the annual operating and capital budget. ...
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    Hi Dave and Connie, I’ve included below...

    Hi Dave and Connie,

    I’ve included below responses from the State of Wisconsin Investment Board (SWIB). We are responsible for investing the assets of the Wisconsin Retirement System. Our sister...
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    Connie, see responses to your questions below...

    Connie, see responses to your questions below from MN State Board of Investment. Just some clarification on MN State Board of Investment. MN SBI manages the investments for Minnesota’s PERA, TRA and...
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    Priti, The Minnesota PERA created a PAFR for...

    Priti,

    The Minnesota PERA created a PAFR for FY17. The link to the document is:

    https://www.mnpera.org/vertical/Sites/%7BCB6D4845-437C-4F52-969E-51305385F40B%7D/uploads/505404_Popular.pdf
    ...
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    https://www.calstrs.com/sites/main/files/file-atta...

    https://www.calstrs.com/sites/main/files/file-attachments/pafr_2017.pdf

    Here is a link to our PAFR. Thanks.

    Lucy Arbuckle
    CalSTRS
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    Hi Priti, Here is the link to the our website...

    Hi Priti,

    Here is the link to the our website where you can view IMRF’s PAFR over the years.
    https://www.imrf.org/en/publications-and-archive/annual-financial-reports

    Let me know if you have...
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    Hi Priti, We prepare a PAFR. We reviewed a lot...

    Hi Priti,

    We prepare a PAFR. We reviewed a lot of PAFRs two years ago when we thought it was time to refresh ours. We really liked CALSTERS and CALPERS PAFRs. The link to ours is below.
    ...
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    Popular Annual Financial Report

    We are gathering information for the “PAFR – Popular Annual Financial Report” for Montgomery County Employee Retirement Plans and would like to know what other plan sponsors with defined contribution...
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