The Taunton Retirement Board is seeking applicants for the position of Fifth Member of the Retirement Board also known as the “Board Appointee.” The Board operates under the provisions of Massachusetts General Laws Chapter 32. The Fifth Member, together with the other four members of the Board, acts as fiduciaries of the Taunton Retirement System and is involved in the administration of the approximately 2,300-member retirement system and has oversight for the investment of over $300 million in pension assets. The board meets one day per month, generally the fourth Wednesday of each month and at other times as needed. Monthly meetings last from 2-4 hours plus additional supplemental and emergency meetings as necessary all held at the Taunton Retirement Board offices.
Massachusetts General Law Chapter 32, s. 20(4)(b). The Fifth Member shall not be an employee, a retiree or official of the City of Taunton, Taunton Housing Authority or Greater Attleboro-Taunton Regional Transit Authority.
Massachusetts General Law Chapter 32, s. 20(47/8E). No employee, contractor, vendor or person receiving remuneration, financial benefit or consideration of any kind, other than a retirement benefit or the statutory stipend for serving on the retirement board, from a retirement board or from a person doing business with a retirement board shall be eligible to serve on a retirement board; provided, however, that an employee of a retirement board may serve on a retirement board other than the retirement board by which the person is employed; and provided further, this subdivision shall apply only to individuals who first become members of a retirement board on or after April 2, 2012.
840 Code of Massachusetts Regulations 1.03. No individual who has been convicted of robbery, bribery, extortion, embezzlement, fraud, grand larceny, burglary, arson, a felony violation of state or federal law defined in Section 102(a) of the Comprehensive Drug Abuse Prevention and Control Act of 1970, murder, rape, kidnapping, perjury, assault with intent to kill, any crime described in Section 9(a)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-9(a)(1)), a violation of Section 302 of the Labor-Management Relations Act, 1947 (29 U.S.C. 186), a violation of Chapter 63 of Title 18, United States Code, a violation of Section 874, 1027, 1503, 1505, 1506, 15l0, 195l, or 1954 of Title l8 United States Code, a violation of the Labor-Management Reporting and Disclosure Act of 1959 (29 U.S.C. 401), any felony involving abuse or misuse of such person's position or employment in a labor organization or employee benefit plan to seek or obtain an illegal gain at the expense of the members of the labor organization or the beneficiaries of the employee benefit plan, or conspiracy to commit any such crimes, or a crime in which any of the foregoing is an element or has been found by the Public Employee Retirement Administration Commission or any court to have violated his/her fiduciary duty or has been found by the Ethics Commission or any court to have violated M.G.L. c. 268A, shall be permitted to serve as a member of a retirement board.
This is a three-year term with an annual stipend of $4,500/year.
The fifth member will be required to:
- Complete 18 hours of training to continue serving during their three-year term. A minimum of three hours of training must be completed annually but no more than nine hours may be credited in any one year.
- File an Annual Statement of Financial Interest with the Commonwealth of Mass. Public Employee Retirement Administration Commission (PERAC) detailing personal assets, debts and annual earnings.
- Be familiar with the Massachusetts Open Meeting Law
- Complete Conflict of Interest and Ethics training every two years
- Travel to seminars and educational trainings as necessary
- Become familiar with retirement board policies and supplemental regulations
Interested applicants should send a letter of interest and/or resume to Paul J. Slivinski, Executive Director, Taunton Retirement Board, 104 Dean St., Suite 203, Taunton, MA. 02780 or email to email@example.com by 12:00 noon on January 17, 2018.