5
Middlesex Avenue, Suite 304
Somerville, MA 02145 |
Telephone:
(617) 666-4446
Fax: (617) 628-4002
TTY: (617) 591-8917
Fraud Hot Line:
(800) 445 - 3266
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PERAC CONSIDERS PENSION MARKETING RULES
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Informational Hearing Scheduled
The Public Employee Retirement Administration Commission (PERAC) has scheduled an informational hearing regarding a proposed policy regulating the activities of individuals and firms involved in marketing investment products to 103 public pension funds in Massachusetts. The hearing will be held at 10:00 a.m. on Friday, September 10, 2010 on the 21st Floor, One Ashburton Place, Boston, MA.
The Commission is seeking comments from impacted parties as well as the Securities and Exchange Commission (SEC), Massachusetts Attorney General, Inspector General, and Secretary of State concerning the regulation of so-called “placement agents” who represent investment firms seeking to be chosen to invest billions of dollars of Massachusetts’ pension fund assets.
PERAC was one of the first regulators in the nation to require the disclosure of these relationships by investment managers. The new policy would impose registration requirements, enhanced disclosure, and minimum education levels for those who perform “placement agent” services.
A draft policy has been approved by the PERAC Investment Sub-Committee and the testimony received at the hearing will be considered by the full Commission as it reviews that recommendation.
In the event that you wish to present testimony at the hearing, please inform Sarah Kelly at SKelly@per.state.ma.us by September 3, 2010. |
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2010 EMERGING ISSUES FORUM
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PERAC will hold its sixth Emerging Issues Forum for Massachusetts Retirement Board Members and Administrators on September 15, 2010 at the Hogan Campus Center of College of the Holy Cross in Worcester, MA. The subject matter is public pension reform. As you can see from the agenda, PERAC will present a group of speakers whose perspectives will be of interest to the public pension community. Pre-registration for the Forum is required. Registration materials were e-mailed to Retirement Board Members and Administrators on August 9, 2010. For questions about registration, please contact SKelly@per.state.ma.us
Directions to Hogan Campus Center
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OPEN MEETING NOTICE
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The next Commission meeting will be held on September 27, 2010 at 12:00 PM at PERAC. The agenda will be posted within 48 hours of the meeting. |
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| ATTORNEY GENERAL'S ENFORCEMENT OF THE OPEN MEETING LAW |
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| 2009 ANNUAL REPORT (PDF) |
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| 2009 INVESTMENT RETURNS FOR STATE AND LOCAL RETIREMENT SYSTEMS (PDF) |
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LIMITS ON MASSACHUSETTS PUBLIC EMPLOYMENT FOR MASSACHUSETTS PUBLIC RETIREES AND A POST-RETIREMENT EARNINGS WORKSHEET
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| STATE OF THE PENSION SYSTEM 2009 |
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The purpose of this report is to provide an overview of the public pension systems in Massachusetts, particularly in relation to the funding, investment, and benefit structure under which those systems operate. Perhaps most importantly at the outset we have attempted to place the impact of the investment experience in 2008 in context and to set forth the condition of the systems as that year began, as well as to estimate the state of the systems in the wake of that unprecedented calamity. The final sections of the report are devoted to addressing some of the myths that persist with respect to the level of benefits and financing of Massachusetts retirement systems. It is our hope that this report will provide a dispassionate and sober basis for policy makers, interested observers, and the public as the issue of public pension reform is discussed in the weeks and months ahead. |
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| SUPERANNUATION RETIREMENT PENSION CALCULATOR |
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| INVESTMENT BEST PRACTICES MANUAL |
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| The
Public Employee Retirement Administration Commission
(PERAC) was created for and is dedicated to the oversight,
guidance, monitoring, and regulation of the Massachusetts
Public Pension Systems. The professional, prudent, and
efficient administration of these systems is the public
trust of PERAC and each of the 106 public pension systems
for the mutual benefit of the public employees, public
employers, and citizens of Massachusetts. The stewardship
of the Trust Funds for the sole purpose of providing
the benefits guaranteed to the public employees qualifying
under the plans is the fulfillment of the obligation
of the people of the Commonwealth to those who have
dedicated their professional careers to the service
of the people of the Commonwealth. |
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