2002-04-15 (53)
~WN OF WAPPINGEI..,
SUPERVISOR
JOSEPH RUGGIERO
TOWN COUNCIL
VINCENT BETTINA
CHRISTOPHER J. COLSEY
JOSEPH P. PAOLONI
ROBERT L. VALDATI
SUPERVISOR'S OFFICE
20 MIDDLEBUSH ROAD
WAPPINGERS FALLS, NY 12590-03~A
(845) 297-2744
FAX: (845) 297-4558
April 15, 2002
New York State Employees' Retirement System
New York State Police & Fire Retirement System
Governor Smith State Office Building
Albany, New York 12244
Our auditors, Sedore & Company, CPA's PC, are making an examination
of our financial statements for the year ended December 31,2001. Please
furnish directly to them the following information about the New York State
Employees' Retirement System. Our auditors will use the information to
determine the amounts of pension cost determined in conformity with GASB
Statement No. 27, and other information to be disclosed in our financial
statements.
1. A brief description of the types of benefits provided and the authority
under which provisions are established or may be amended.
2. Identification of the System's financial report and how to obtain the
report.
3. Description of funding policy including:
a) Authority under which obligations to contribute to the plan are
established for new members and employers.
b) How such provisions are established or may be amended
c) Required contribution rates of active plan members.
d) Required contribution rates of the employer and accordance with
the funding policy in dollars and as a percentage of covered
payroll.
e) Required contribution in dollars and percentage of that amount
actually contributed for the current year and each of the two
preceding years.
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...,.;
4. Indicate whether your response to the above items, in your opinion as
actuaries for the plans, have been made in accordance with the
related provisions of GASB in statement No. 27. If not, please
describe the specific differences.
5. Indicate whether, in your opinion, the plan conforms to the
requirements of ERISA.
Please mail your response to Sedore & Company, CPA's PC, in the
enclosed envelope as soon as possible.
Sincerely,
11~
a Ruggiero, Supervisor
Town of Wappinger
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