Holyoke Retirement Board Travel Regulations

Regulations accepted by the board and approved by PERAC

Approved Date:  March 19, 2021

I.       Board Members are encouraged to attend 2 to 3 educational forums annually which are directly related to their duties as a Board Member.

II.      Authorization for Travel and Related Expenses.

A. Travel related expenses must be approved by the Board in advance of the travel.

B. Requests for travel by Board Members shall be placed on a Board meeting agenda, discussed in open session and approved by a majority vote of the Members of the Board present and voting. The meeting minutes shall reflect the Board's action and the extent of the authorization.

C. Brochures for seminars or other presentations and estimated costs should accompany the request for travel.

D. A statement describing the presentation, conference or seminar shall be entered into the minutes of the meeting following the travel.

E. The Executive Director may authorize travel for other members of the Board Staff under the provisions of A through D above.

III.     Required Documentation for Reimbursement.

A. A Travel Reimbursement Form must be completed by the traveler and audited by the Executive Director/Assistant Executive Director after incurring any travel expenses and before any reimbursement takes place.

B. Original itemized receipts must be submitted for all expenses including transportation, lodging, and other expenses incidental to travel.

C. Receipts must be submitted for individual expenses over $10.  Travel related expenses under $10 should be fully described and reimbursed based on the traveler’s certification that the expenses were necessary and incidental to the approved travel.

D. Any travel-related expenditure, which has not been properly documented or is not in conformity with the Board’s regulations must be rejected or adjusted.

E. Reimbursement shall be made only to the person who actually made payment for the expense.

F. The person seeking reimbursement, under the pains and penalties of perjury,^[1] must sign the reimbursement form.  Travel Reimbursement forms must be submitted to the Executive Director or designee within 30 days of the date of travel completion.

Notwithstanding the provisions of 840 CMR 2.04(2), where expense payments of a traveler are to be reimbursed by the Board to a third party under 840 CMR 2.13, or where a delay in obtaining required proper documentation of expenses occurs through no fault of the traveler, or in any circumstance where the proper documentation required for reimbursement under 840 CMR 2.00 is not readily available, the Board may reasonably extend the time for submission of documents required for reimbursement, and such delay shall not be considered a violation for the purposes of 840 CMR 2.14.

IV.     Travel Arrangements.

A. The Executive Director/Assistant Executive Director shall be responsible for making all travel arrangements.  The Executive Director/Assistant Executive shall assist Board Members and Staff in completing authorization and reimbursement forms.

B. Government or business rates will be secured when making arrangements.

C. Extended stay may be authorized if the net cost to the Board will be lower.

V.      Transportation.

A. Airline travel should be at the lowest fare available, when allowing for non-stop flights and reasonable departure times.

B. Airline club membership is prohibited.

C. Fees for baggage and related costs shall be reimbursed.

D. Rental cars must be procured from a national rental agency.  Economy class cars are preferred when available.

E. Rental at a weekly rate is authorized when such rate is less than the daily rate, or when at a special or promotional rental rate which includes a vehicle upgrade at a lesser rate than standard grade.

F. Optional insurance coverage for rental cars must be accepted.

G. Any motor vehicle accidents occurring while using a rental car on Board-approved travel must be reported as soon as possible, in writing to the appropriate authorities, with copies of all such reports provided to the Board.

H. Fines or other expenses incurred as a result of traffic violations while on Board-approved travel are not reimbursable.

I. The amount of reimbursement for the use of a personal motor vehicle shall not exceed the per-mile business travel rate used by the IRS.

J. Parking Fees and toll charges are reimbursable.

VI.     Lodging.

A. All reservations for accommodations must be made in advance.

B. Government/Business class accommodations are preferred when available.

C. Reimbursements will include so-called “resort fees,” defined as mandatory fees charged all hotel guests for certain amenities, whether used or not, including computer and internet access, wi-fi, newspapers, towel services, use of hotel safe, pool, and gym.

VII.    Meals.

A. Meal reimbursement is limited to a maximum of $95 per person per day.

B. If reimbursement is sought for meal expenses for others, these individuals must be identified along with their affiliation and a description of the purpose of the meeting.  Reimbursement shall be made only for meetings that are business related.

C. In instances where conference or registration fees include meals, reimbursement of other meals is prohibited.

D. Alcoholic beverages are not reimbursable.

E. All meal reimbursements shall be supported by original itemized receipts.

VIII.   Other Reimbursable and Non-Reimbursable Expenses.

A. Reimbursable expenses are as follows:

1. Gratuities paid in accordance with local custom
2. Telephone expenses related to Board related calls
3. Cost of faxing, copying, internet connection charges for Board business only

B. Non-Reimbursable expenses are as follows:

1. Mini-bar charges
2. In-room movies
3. Gym, sauna and spa fees
4. Any entertainment or recreational expenses
5. Laundry and/or dry-cleaning expense
6. Any personal expense
7. Business other than Board business is considered personal

IX.     Cash advances are prohibited in connection with anticipated expenses.

X.      Board Credit Cards.

A. The Board is authorized to establish one credit/debit account for use by the Retirement office staff to facilitate payment of all Board related and allowable expenses, including, but not limited to, expenses incurred pursuant to this regulation.

XI.     Personal Travel.

A. If personal travel is combined with Board-related travel, the personal portion of the trip must be clearly identified and paid for by the traveler.

B. Expense incurred by a spouse or other person traveling with a Board Member or Staff member is considered to be personal travel and therefore not reimbursable.

XII.   Third-Party Reimbursements.

A. A Board or Staff member may participate in legitimate speaking engagements in connection with their positions on the Retirement Board.

1. The Board may accept reimbursements from third parties necessary to cover travel related costs for such engagements.
2. Acceptance of an honorarium or any other form of compensation is prohibited.
3. To be considered a legitimate speaking engagement, the presentation must be formally scheduled on the agenda of a convention or conference.
4. The speaking engagement must be scheduled in advance of the Board or Staff member’s arrival at the event.
5. The presentation must be before an organization that would normally have outside speakers address them at such an event.
6. The Retirement Board can be reimbursed by a third party for expenses only to the extent necessary for making the speech or presentation.  The expense must be paid for in advance by the Board. Reimbursement must be made to the Board.  No stipend can ever be received by a Board member.

B. Conferences sponsored by Investment Managers, Consultants or other agencies must be paid for by the Board.  The conference sponsor must submit a bill, reflecting the appropriate “pro-rata” share of the conference expense, to the Board for payment.

XIII.  Board and Staff members are prohibited from receiving direct or indirect items of substantial value from any person, firm, association, or other entity.

XIV.  Any person or entity that violates the Board’s Supplemental Travel Regulations shall be deemed to have violated the provisions of 840 CMR 17.00 and shall be subject to removal as a qualified investment manager or consultant pursuant to 840 CMR 17.04(10).  In the event of such a violation, the Board will not seek an exemption from the Public Employee Retirement Administration Commission pursuant to 840 CMR 19.02 or a qualification pursuant to 840 CMR 26.04.

XV.   Periodic Review.

A. In December of each year, the Board shall review its Supplemental Travel Regulation and reimbursement process to ensure compliance with 840 CMR 2.00 and applicable rules and regulations promulgated by PERAC.

[1] Massachusetts no longer requires a signee to swear under the “pains” of perjury.