Michigan pa 202 uniform assumptions
WebThe Michigan State Treasurer has established uniform actuarial assumptions as required by Public Act 202 (PA 202) of 2024 for use with the annual Form 5572 (Retirement System Annual Report). The use of the uniform assumptions for reporting purposes is required for each future fiscal year ending September 30th. GRS plans to provide the necessary ... WebA key component of Public Act 202of 2024 (the Act) requires the State Treasurer to annually establish uniform actuarial assumptions of retirement systems that include, but are not …
Michigan pa 202 uniform assumptions
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WebActuarially Determined Contribution (ADC) using uniform assumptions Actuarial Funding Valuation used in Most Recent Audit Report 3,485,436 28 All systems combined ADC/Governmental fund revenues Calculated 16.1% 29 30 Primary government triggers:Less than 60% funded AND greater than 10% ADC/Governmental fund revenues.
WebThe Protecting Local Government Retirement and Benefits Act (PA 202 of 2024) & Public Act 530 of 2016 Pension Report Michigan Department of Treasury Enter Local Unit Name City of Zeeland Enter Six-Digit Municode702060 Unit Type City Fiscal Year End MonthJune Fiscal Year (four-digit year only, e.g. 2024)2024 WebMichigan Department of Treasury . Issued under Public Act 166 of 2024. 5887 (04-23) ... the qualified unit shall comply with the uniform actuarial assumptions of retirement systems, except for the discount rate and assumed rate of return assumptions, ... 2024 PA 202, MCL 38.2801 to 38.2812, for the qualified retirement system. A qualified unit ...
WebAct 202 of 2024. AN ACT to create the protecting local government retirement and benefits act; to provide the powers and duties of certain state and local agencies and officials; … Web23 Uniform Assumptions ... By emailing this report to the Michigan Department of Treasury, the local unit of government acknowledges that this report is complete and accurate in all known respects. ... (PA 202 of 2024) & Public Act 530 of 2016 Pension Report Requirements (For your information, the following are requirements of P.A. 202 of 2024) ...
Web23 Uniform Assumptions 24 Enter retirement pension system's actuarial value of assets using uniform assumptions Most Recent Actuarial Funding Valuation 13,243,484 25 Enter …
WebUniform Assumption PA 202 Valuation Assumption Used Uniform Assumption Used Investment Rate of Return Discount Rate (1) Maximum of 7.00% 7.00% 7.00% Salary … gta 5 clownfish maskWebUniform Assumptions Enter retirement pension system's actuarial value of assets using uniform assumptions Enter retirement pension system's actuarial accrued liabilities using uniform assumptions Funded ratio using uniform assumptions Actuarially Determined Contribution (ADC) using uniform assumptions All systems combined ADC/Governmental … gta 5 code triche ps4Web23 Uniform Assumptions ... Requirements (For your information, the following are requirements of P.A. 202 of 2024) Form 5572 (7‐20) Michigan Department of Treasury The Protecting Local Government Retirement and Benefits Act (PA 202 of 2024) Health Care (OPEB) Report Did the local government pay the retiree insurance premiums for the year? ... finar coa indexWebEnter retirement health care system's actuarial accrued liabilities using uniform assumptions 175,902,541 30 Calculated 6.7% 31: ... By emailing this report to the Michigan Department of Treasury, the local government acknowledges that this report is complete and accurate in all known respects. ... (PA 202 of 2024) Health Care (OPEB) Report ... gta 5 code onlineWebPublic Act 202 of 2024: Protecting Local Government Retirement and Benefits Act. Public Act 202 of 2024, the Protecting Local Government Retirement and Benefits Act (the Act), was signed into law and placed in immediate effect in December 2024. The forms and … The documents linked below provide a summary of local governments that are … fin arc thriller barkWebMay 8, 2024 · Uniform Assumptions State of Michigan Department of Treasury22 PA 202 requires the State Treasurer to annually establish uniform actuarial assumptions of … finardi chordsWeb23 Uniform Assumptions 24. ... (PA 202 of 2024) & Public Act 530 of 2016 Pension Report Requirements (For your information, the following are requirements of P.A. 202 of 2024) ... By emailing this report to the Michigan Department of Treasury, the local government acknowledges that this report is complete and accurate in all known respects. gta 5 code for money