Actuarial statements are sent out to member funds on an ongoing basis, based on their respective fiscal year-ends. Article 4 funds are required to submit their annual statements to the Department of Insurance (DOI) within six months following their fiscal year-end, then FPIF seeks to transmit actuarial statements to the funds within thirty days of receiving an annual statement from DOI.
April 30 is the most common fiscal year-end, with 159 funds. To-date, DOI has not received all annual statements for Article 4 Funds whose fiscal year ends on February 29, March 31, and April 30. However, regarding the annual statements it has received, DOI has delivered annual statements to FPIF throughout October and November. Those actuarial statements are being prepared and transmitted to authorized account representatives. If there are errors in annual statements, or if statements are incomplete, those actuarial statements may be delayed.
Actuarial statements can be accessed at the FPIF website, https://ifpif.org/member-resources/actuarial-statements/.