Update on Process to File Act 205 Forms
The Municipal Pension Reporting Program (MPRP) within the Department of the Auditor General is planning to release a system on April 1, 2019 for the electronic filing of the actuarial valuation reports for municipal pension plans effective for the 2019 reporting year. The deadline for the form submission is March 31, 2020.
How will this affect your plan?
- PC-200 – Act 205 Questionnaire and Reporting Form is eliminated. This form was previously sent in April to municipalities and was due by October 15. The questions will be incorporated as a first step in the Act 205 Form electronic filing.
- The blue, pink, and yellow forms are eliminated. The electronic filing system will eliminate the need to sign and mail in paper forms. The system will alert the municipality when the actuary has completed the form for you to review and digitally sign the form to submit to the MPRP.
- Information provided on the forms may have changed. A few items previously requested on the forms have been eliminated or changed. Your actuary will complete the forms for your plans.
- Wait for the program to be released. The forms are not due until March 2020 but we anticipate a release April 1, 2019.
- Assign the actuary for your plans. After the system is released, the municipality will need to note which plan will have forms prepared and assign the actuary or appropriate party for those plans. This will enable the actuary to enter the information required for the filing.
- Your actuary will complete the form for your review. Later this year, we will begin completing the requested information.
- Contact your Consulting Actuary with any questions regarding this process.
We’ve got you covered! Our relationship with the Auditor General enabled us to provide feedback on this e-fiing system during development. Rely on us for a smooth transition for the 2019 report filing.