Ensuring the integrity of long term pension funding for the 105 contributory retirement systems for public employees in Massachusetts is a major policy priority for PERAC. The Actuarial Unit is the focal point for these efforts. Under law, the unit determines the annual appropriation for each of the 105 retirement systems.
As part of the appropriation process, the unit performs an actuarial valuation of each of the 105 retirement systems every few years. The valuation is a “snapshot” picture of how well the plan is funded at that time. The Berkshire County Retirement Board currently has a funded ratio of 83.5%.