MEMORANDUM #19, 2007

Commonwealth of Massachusetts | Public Employee Retirement Administration Commission
Five Middlesex Avenue, Third Floor, Somerville, MA 02145
Ph 617 666 4446 | Fax 617 628 4002 | TTY 617 591 8917 | www.mass.gov/perac
Domenic J. F. Russo, Chairman | A. Joseph DeNucci, Vice Chairman
Paul V. Doane | Kenneth J. Donnelly | James M. Machado | Donald R. Marquis
Joseph E. Connarton, Executive Director


M E M O R A N D U M

TO:             All Retirement Boards

FROM:       Joseph E. Connarton, Executive Director

RE:             Governor's Proposal

DATE:        March 8, 2007

 

The Public Employee Retirement Administration Commission (PERAC) at its
most recent meeting reviewed the enclosed memorandum relative to Governor
Patrick’s recent pension proposal filed as part of his package of
recommendations focusing on municipal government. The Commission has
not taken a position on the Governor's initative.

Although the enclosed memo is self-explanatory, I am providing this to you
for informational purposes. I would stress that this analysis is based on 2001-
2005 returns and actuarial valuations presently available to PERAC.
 
Obviously the time frame that may be relevant in assessing systems’
performance and funded status under the proposal is contingent on the final
version of the legislation if it is adopted.

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