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 | A. Joseph DeNucci, Vice Chairman
Paul V. Doane | James M. Machado | Donald R. Marquis | Robert B. McCarthy | Gregory R. Mennis
Joseph E. Connarton, Executive Director
October 12, 2010
William E. Cross III, Chairman
Saugus Retirement Board
Town Hall Annex
25 R Main St.
Saugus , MA 01906
REFERENCE: Report of the Examination of the Saugus Retirement Board for the two-year period from January 1, 2007 through December 31, 2008
Dear Mr. Cross:
The Public Employee Retirement Administration Commission has completed a follow-up review of the finding and recommendation contained in its audit report of the Saugus 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 recommendation cited in that report. The results are as follows:
1. The Audit Report cited a finding that one Board member had an excessive absentee rate for the monthly Board meetings.
Follow-up Result: The auditor reviewed meeting minutes for the time period since the audit field work was completed through September 2010. Attendance at Board meetings was acceptable for all Board members during that period. The Board has adjusted their meeting dates to better accommodate all members’ schedules. The finding is resolved.
The Commission wishes to acknowledge the significant effort demonstrated by the staff of the Saugus 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