POLICY NO: 07-001

Procurement Policy
It is the policy of the Public Employee Retirement Administration Commission to procure commodities and services pursuant to the provision of 801CMR 21.00 Procurement of Commodities or Services, Including Human and Social Services.

Procurement Funding and Processing
The Expense Fund of the Public Employee Retirement Administration Commission shall be the funding source for all procurements made by PERAC. The Expense Fund shall be funded from the investment income of the State and Teachers’ Retirement in accordance with the provisions of c. 7, s. 49(d). Transactions for payments for commodities received and services rendered shall be processed using the Commonwealth’s accounting system (MMARS).

The Executive Director of PERAC as appointed by the Commission is hereby authorized to procure such commodities and services as may be necessary to carry out the duties and responsibilities of PERAC as described by G.L. c. 7 and c. 32 and as further prescribed by the Commission. The Executive Director, who may further delegate such procurement authority to appropriate staff, shall insure that all procurements are processed in conformity with these guidelines. Further, the Executive Director shall insure that the expenditure for said procurement shall not exceed the annual budget as approved by the Commission.

Notwithstanding the authority delegated to the Executive Director, the Executive Director or his designee shall submit to the Commission for its approval, any contract for any commodity or service for which the annual cost shall exceed $100,000.

Adopted at Commission meeting on February 28, 2007.