The Commonwealth of Massachusetts
PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION COMMISSION
5 Middlesex Avenue, 3rd Floor
Somerville, MA  02145
(617) 666-4446

POLICY NO:  97 - 001

Standing Committees

The Public Employees Retirement Administration Commission (Commission) must
perform it’s oversight and management of affairs in an efficient and effective manner.
The Commission therefor establishes this policy to further it’s efforts in providing the
appropriate level of authority and responsibility over the staff and issues coming before it.

The Commission establishes the following standing sub-committees to assist it in it’s
performance. The sub-committees will perform necessary review and analysis of issues
relating to it’s mandate and will report to the full Commission on recommendations it
feels appropriate. The sub-committees will carry all additional authority of the
Commission as the Commission Chair assigns.

Administrative Sub-Committee

This sub-committee will be assigned responsibility over the general administrative
issues of the operation of the Commission. It will work with the Executive
Director for budget preparation, considering personnel grievances, regulation
preparation as they relate to administrative directive, corrective legislation deemed
necessary to carry out the administrative mandate of the Commission, and other
administrative oversight as deemed necessary by the sub-committee chair.

Legislative Sub-Committee

This sub-committee will be assigned responsibility over the Commission’s analysis
and response to Commonwealth and Federal legislation as it deems appropriate in
the best interests of the public retirement system community and other interests of
the Commonwealth. The sub-committee will coordinate with staff to develop
procedures dealing with proactive treatment of legislative initiatives, develop
legislative positions for review and action by the Commission, review opinions
established by staff for concurrence by the Commission, and recommend for
introduction any other legislative initiatives that it deems necessary for the
Commission’s fulfillment of it’s responsibilities.

Disability Intervention Sub-Committee

This sub-committee will be primarily responsible for assisting staff in the
development of preliminary regulations for implementation of the Early
Intervention Program and in general oversight after the section is operational.
Review all disability related processes, including rehabilitation and reinstatement
guidelines. The sub-committee will be responsible for review of staff
recommendations on current legislative analysis and in developing
recommendations for the Commission’s adoption on any corrective legislation that
may be necessary to fully implement the program.

Audit / Fraud Sub-Committee

This sub-committee will be primarily responsible for assisting staff in the
development of preliminary regulations for implementation of the Pension Fraud
Program and in general oversight after the section is operational. The subcommittee
will also be responsible for reviewing the annual audit report to be
presented to the Commission as well as being the Commission’s representative for
any sensitive audit findings or fraud investigations that must be brought to the
Commission’s attention.

Investment Sub-Committee

This sub-committee will be primarily responsible for the review and
recommendation of regulations on investment policies and practices allowed by
the Commission. The sub-committee will also be responsible for the review with
staff of any new type or derivation of any traditional asset class. The subcommittee
will be responsible for review of the annual investment report before
presentation to the Commission.

Adopted at Commission meeting on April 17, 1997.

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