Xác định đủ điều kiện của một người đang áp dụng cho các thành viên trong hệ thống. Chỉ định chuyên gia tính toán để cung cấp tư vấn về các khía cạnh thống kê bảo hiểm kỹ thuật của hệ thống hưu trí. | 2 Montana Legislative Audit Division Determining the eligibility of a person who is applying for membership in the system. Designating an actuary to provide consultation on the technical actuarial aspects of the retirement system. The Executive Director and system personnel are responsible for the daily administration of the system. At June 30 2009 17 full-time equivalent FTE positions were authorized for the system. All full-time members of the public teaching profession except for eligible employees of the Montana University System hired after July 1 1993 are required by law to be members in the retirement system. All contributions are exempt from income tax to the employees until benefits are drawn against those contributions. The system implemented a Guaranteed Annual Benefit Adjustment GABA effective in January 2000. Retirees are eligible for GABA once they have received at least 36 monthly retirement benefit payments prior to January 1 of the year in which the adjustment is to be made. GABA provides eligible retirees with a guaranteed percent increase in retirement benefits on an annual basis. Prior Audit Recommendations Our office performed the prior financial-compliance audit of the Teachers Retirement System for the two fiscal years ended June 30 2008. The system concurred with the two recommendations contained in the report. The system partially implemented one and did not implement one of the recommendations. The partially implemented recommendation relates to the documentation and monitoring of internal controls. In our prior audit we recommended the system document procedures to monitor and test internal controls in accordance with state policy. In response the Teachers Retirement System staff drafted an internal controls testing and monitoring policy that was approved at the May 2009 board meeting. Due to the timing of the approval there was not time to actually perform the testing and monitoring needed. We make no additional recommendation at .
