Commonwealth of Massachusetts | Public Employee Retirement Administration Commission
Five Middlesex Avenue, Suite 304, Somerville, MA 02145
Ph 617 666 4446 | Fax 617 628 4002 | TTY 617 591 8917 | www.mass.gov/perac
Domenic J. F. Russo, Chairman
Auditor Suzanne M. Bump | Alan Macdonald | James M. Machado | Donald R. Marquis | Robert B. McCarthy | Gregory R. Mennis

Joseph E. Connarton, Executive Director

September 5, 2012

Gary S. Sager, Chairman
Attleboro Retirement Board
77 Park Street
Attleboro, MA 02703

REFERENCE: Report of the Examination of the Attleboro Retirement Board for the three year period from January 1, 2008 through December 31, 2010.

Dear Mr. Sager:

The Public Employee Retirement Administration Commission has completed a follow-up review of the finding and recommendation contained in its audit report of the Attleboro Retirement Board for the most recent period referenced above. We conduct these visits as a regular part of the oversight process. They are designed to ensure the timely implementation of corrective action for the recommendations cited in that report. The results are as follows:

1. The Audit Report cited a finding that the Board hired a consultant prior to receiving a formal notice from PERAC’S Investment Director that all required information and documents had been submitted. The Board failed to obtain the required regulatory authorization prior to commencing the professional services of this consultant which is a violation of 840 CMR 26.04(1).

Follow-up Result:  The Attleboro Retirement Board has submitted the necessary documentation and received notification from PERAC that the provisions of 840 CMR 26.04(1) had been met. A review of the records of the Attleboro Retirement Board has shown no further violation. This finding is resolved.

The Commission wishes to acknowledge the effort demonstrated by the staff of the Attleboro Retirement Board to correct the deficiency cited in the most recent examination of the system.

Thank you for your continued cooperation in this important matter.

Sincerely,

Joseph E. Connarton
Executive Director

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