2022 Reporting-Year Forms
The OSA announced earlier this month that the 2022 FIRE Form and 2023 Schedule Form are available for completion. The reporting forms are accessed through the State Auditor’s Form Entry System (SAFES).
Note that the 2023 Schedule Form contains a new Benefit Level Projections Tool that a relief association may use as a resource to estimate the impact that benefit level changes or investment rate of return changes could have on the relief association's funded status and financial requirements. This new tab is optional and provided solely as a resource, and is not required to be completed before submitting the form.
Following 2022 law changes that eliminated the requirement that each relief association with a defined benefit plan annually calculate its own maximum allowable benefit level, relief associations and municipalities have greater flexibility in setting benefit amounts.
It is, and will continue to be, important for relief associations and municipal trustees to obtain information they need to make an informed decision when considering a benefit level change. The new Benefit Level Projections Tool is intended to be one such source of information, but should not be relied upon in lieu of individualized services provided by a relief association’s auditor, actuary, or financial advisor.
An informational document also is available on the OSA website that provides detailed instructions for accessing, submitting and electronically signing the reporting forms.
Also on our website is the Key Reporting Requirements calendar, which identifies required relief association reporting forms and their due dates.
Finally, if your relief association has not already done so, please complete the 2023 User Authorization Form to provide the relief association’s auditor with access to this year’s reporting forms.
Published last in the February 2023 Pension Newsletter