... Public Employees Retirement System16Status of Prior Audit IssuesAs of December 9, 1998 Most Recent AuditsLegislative Audit Report 98-4, February 1998, covered the fiscal year ended June 30, ... made to the consolidation account in fiscal year 1998. Prior to 1987, 50 local relief associations administered independent pension plans for their employees. From December 1987 to June 30, 1998, ... are withdrawn before reaching age 59½,and not rolled into another qualified plan, withdrawals are subject to an additional ten percent taxsurcharge. For the year ended June 30, 1998, approximately...