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YELLOW SHEET Office of the State Auditor of Missouri |
November 29, 2001
Report No. 2001-114
The following report is
our review of the Prosecuting Attorneys� and Circuit Attorneys� Retirement
System.
The State Auditor is required by state law to review the
audits of the Prosecuting Attorneys� and Circuit Attorneys� Retirement System
(PACARS).� The system�s Board of
Trustees has contracted with a private certified public accounting firm to
perform annual financial audits of the system.�
The scope of this review included, but was not necessarily limited to,
the period of July 1, 1997 to June 30, 2000.��
A financial audit for the year ended June 30, 2001, had not yet been
performed at the time of our review.
The Prosecuting Attorneys� and Circuit Attorneys�
Retirement System was created under an act of the 85th General
Assembly, commenced actual operations on August 28, 1989, and is governed by
state law.� The Prosecuting Attorneys�
and Circuit Attorneys� Retirement System is a mandatory cost-sharing
multiple-employer, statewide public employee retirement plan for prosecuting
attorneys in all counties and each circuit attorney in a city not within a
county.� The system is a defined benefit
plan providing retirement and death benefits to its members.� A summary of retirement, death, and
disability benefits provided to members is included in our report.
The responsibility for the operation and administration
of the retirement system is vested in the PACARS Board of Trustees, consisting
of five PACARS members elected by a vote of the prosecuting attorneys and
circuit attorneys of the state.
As of June 30, 2000, there were 113 active members, 36
inactive members with twelve or more years of creditable service but who had
not reached 62 years of age, and eight retirees and beneficiaries that were
receiving benefits.
