NEW YORK CITY RETIREMENT SYSTEMS

NEW YORK CITY RETIREMENT SYSTEMS

ACTUARIAL AUDIT AND RELATED REVIEW SERVICES ADMINISTRATIVE REVIEW REPORT OCTOBER 28, 2014

New York City Retirement Systems Administrative Review Report of Actuarial Data Gathering Process October 2014

TABLE OF CONTENTS

Section

Items

Abbreviations

A.

Executive Summary and Process Overview

B.

Administrative Review Process

C.

Recommendations

D.

Implementation Review

Appendix 1 Findings By Entity (OA and Each System)

Appendix 2 Sample Employee Record Analysis

Pages

1-2 3-5 6-9 10-22 23-31 32-52 53-54

ABS Actuary

Actuary ADS ASOP BERS BOE/DOE BTDS CAFR CD-ROM CHARMS COPS CPMS CSD CUNY DoITT DROP EPIS FISA FDNY FIRE FTP GRM GRS HHC ITHP NYCRS

NYCERS OA

List of Abbreviations Annual Benefit Statements A person who is trained in the applications of probability and compound interest to solve problems in business and finance that involve payment of money in the future, contingent upon the occurrence of certain future events Mr. Robert C. North, Jr. Annual Disclosure Statement Actuarial Standards of Practice Board of Education Retirement System of the City of New York Board of Education/Department of Education Bureau of Technology Development and Systems Comprehensive Annual Financial Report Compact Disk-Read Only Memory City Human Resources Management System Comprehensive Officer Pension System Comprehensive Pension Management System Certification Services Division City University of New York Department of Information Technology and Telecommunications Deferred Retirement Option Plan Employee Payroll Information Systems Financial Information Service Agency New York Fire Department New York Fire Department Pension Fund File Transfer Protocol Government Records Management Gabriel, Roeder, Smith & Company Health and Hospitals Corporation Increased Take-Home Pay New York City Retirement Systems (NYCERS, TRS, BERS, POLICE, and FIRE, collectively) New York City Employees' Retirement System Office of the Actuary

-1-

OLR OPA OPEB OSC PD PDF PMS PO/BO file POLICE PPMS PROD ProVal Prudential QDRO SCA SFTP TDA TRS UPS VPN VSF VTL WTC

List of Abbreviations - Concluded Office of Labor Relations Office of Payroll Administration Other Post-Employment Benefits Office of the State Comptroller Payroll/Police Department Portable Document Format Payroll Management System Pensioner-Only/Beneficiary-Only File New York City Police Pension Fund Pension Payroll Management System Pension Administration System used by NYCERS The current actuarial software used by the OA Prudential Financial, Inc. Qualified Domestic Relations Order School Construction Authority Secure File Transfer Protocol Tax Deferred Annuity Teachers' Retirement System of the City of New York Unified Pension System Virtual Private Network Variable Supplements Fund Virtual Tape Library World Trade Center

-2-

SECTION A

EXECUTIVE SUMMARY AND PROCESS OVERVIEW

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