We issued an unqualified opinion, which means the financial statements are free of material misstatement and conform with accounting principles. This report communicates the results of tests on internal control and compliance with applicable laws and regulations. The audit makes five recommendations where improvements can be made. In its response, PERS agrees with all of the findings and recommendations. PERS is a statewide retirement program for units of state government, political subdivisions, community colleges, and school districts.
PERS is funded through member and employer contributions and investment earnings.