Job Posting: Malden Retirement Board

Director

Position Title: 
Director

Location:
Retirement Office (Fifth Floor), Malden City Hall 215 Pleasant Street, Malden, MA 02148

Date of Notice: 
December 22, 2025

Position Responsibilities:  

The Director is responsible for the daily administration of the Malden Retirement System, a municipal retirement system with assets of approximately $400 million and membership of approximately 1,500 active, inactive and retired members.  The Director will independently manage and supervise a municipal agency involved with a high volume of transactions.  Excellent communication, accounting and organizational skills are required.  Must have the ability to train and supervise personnel. 

The Director will also maintain a thorough knowledge of Massachusetts General Law Chapter 32 public pension law, regulations of the Public Employee Retirement Administration Commission (PERAC), and Federal and State regulations including the Division of Administrative Law Appeals (DALA), the Contributory Retirement Appeal Board (CRAB), the Internal Revenue Service (IRS) and Department of Revenue (DOR) as they may relate to Chapter 32 retirement benefits. 

Qualifications:

A successful candidate must possess excellent oral and written communication skills to effectively explain retirement law complexities and strategies to the retirement system membership and to interact with the system’s actuary and other financial institutions to assure the accuracy of the system’s financial reporting.  An understanding of accounting practices is required to record investment and member transactions.  Must have the ability to conduct retirement board meetings and present various matters concisely and accurately to the members of the Board. 

Candidate should possess a bachelor’s degree in accounting or business-related discipline or relevant equivalent practical experience, as well as experience working in a M.G.L. Chapter 32 public retirement system.  Must possess knowledge of general business and accounting principles and practices.  Knowledge of and experience with PTG (retirement software) and Harpers software is preferred.  Must be proficient in the use of Microsoft Office applications.

Working Conditions/Physical Demands

• Sit for long periods of time.
• Use hands to finger, handle, or feel.
• Frequently reach with hands and arms.   
• Occasionally lift and/or move up to 25 pounds.
• Specific vision abilities required by this job include close vision and ability to adjust and focus. 

Salary Range:

100K – 135K Commensurate with experience. 

Office Hours: 

35 hours per week: Mondays 7:45 – 5:00; Tuesdays 7:45 – 7:00; Wednesdays & Thursdays 7:45 – 5:00; Fridays Closed.

Benefits:

• City Retirement (Mandatory)
• Deferred 457 Plan (Optional)
• Health/Life/Dental Insurance
• Flexible Spending Account
• Non-Union Position
• Longevity/Educational Stipend at 3%  (10 years of service or bachelor’s degree)or 4% (25 years of service or master’s degree) of base salary - *prior years in a M.G.L. c.32 system counts
• Vacation*/Personal/Sick Leave Accruals

*prior years in a M.G.L. c.32 system counts toward vacation accrual status 

To apply for this position, please submit a cover letter and resume via email to Charles Ranaghan,

the Ex-Officio Board Member at [e-mail]

840 CMR 1.03: Prohibition Against Certain Persons Holding Certain Positions

No individual who has been convicted of robbery, bribery, extortion, embezzlement, fraud, grand larceny, burglary, arson, a felony violation of state or federal law defined in Section 102(a) of the Comprehensive Drug Abuse Prevention and Control Act of 1970, murder, rape, kidnapping, perjury, assault with intent to kill, any crime described in Section 9(a)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-9(a)(1)), a violation of Section 302 of the Labor-Management Relations Act, 1947 (29 U.S.C. 186), a violation of Chapter 63 of Title 18, United States Code, a violation of Section 874, 1027, 1503, 1505, 1506, 15l0, 195l, or 1954 of Title l8 United States Code, a violation of the Labor-Management Reporting and Disclosure Act of 1959 (29 U.S.C. 401), any felony involving abuse or misuse of such person's position or employment in a labor organization or employee benefit plan to seek or obtain an illegal gain at the expense of the members of the labor organization or the beneficiaries of the employee benefit plan, or conspiracy to commit any such crimes, or a crime in which any of the foregoing is an element or has been found by the Commission or any court to have violated his/her fiduciary duty or has been found by the Ethics Commission or any court to have violated M.G.L. c. 268A, shall serve or be permitted to serve:

1. As a member, administrator, fiduciary, officer, trustee, custodian, counsel, agent, employee or representative in any capacity of a board.
2. As a consultant, manager or provider of goods or services to a board.
3. In any capacity that involves decision making authority or custody or control of the monies, funds, assets or property of any system.  

Position will remain open until filled.

The Malden Retirement Board is an equal opportunity employer.

Malden Contributory Retirement System

Director – Job Description/Essential Duties 

The Director of the Malden Retirement System is independently responsible for the daily administration of the Malden Retirement Office.  The Director must maintain a thorough knowledge of Massachusetts General Law Chapter 32 Public Pension Law; regulations of the Public Employee Administration Commission (PERAC); Federal and State regulations including but not limited to decisions of the Equal Employment Opportunity Commission (EEOC), the Division of Administrative Law Appeals (DALA), the Contributory Retirement Appeal Board (CRAB), the Industrial Accident Board (IAB), the Internal Revenue Service (IRS) and Department of Revenue (DOR) as they may relate to Chapter 32 retirement benefits.

The Director is independently responsible for:

• Daily administration of various types of pension benefits for active, retired and inactive members of the Malden Retirement System.
• The compilation of accurate and timely financial reporting from investment managers, custodial bank and investment consultant for an investment portfolio in excess of $400 million.
• Submission of routine financial reporting to various governmental agencies as mandated by Massachusetts General Laws.
• Responding to various requests from 104 Contributory Retirement systems within the Commonwealth of Massachusetts.

Essential Duties

(The essential functions or duties listed are intended only as illustrations of the various types of work that may be performed.  The omission of specific statements of duties does not exclude them from the position if the work is similar, related or a logical assignment to the position). 

As Director of the Malden Contributory Retirement System, you are responsible for:

• The enforcement of all regulations pertaining to public pension benefits, as they pertain to the membership of the Malden Retirement System, as prescribed by MGL Chapter 32, PERAC regulations, Malden Retirement Board supplementary regulations, appeal decisions of DALA and CRAB, EEOC decisions, IAB regulations/decisions, IRS and DOR regulations.
• The accurate and timely reporting to Retirement Board Members of all pertinent information as it relates to the daily administration of the Retirement Office.
• Ensuring timely and accurate reporting from investment manager(s).  Responsible for interpreting and recording all financial reporting relative to the assets of the Malden Retirement System.  Responsible for providing timely and accurate financial reporting to several governmental agencies, including preparation of Trial Balance, Receipts Journal, Disbursements Journal and Adjusting Journal Entries, on a monthly and year-end basis.  Assists both PERAC auditors and the City’s independent auditors in the analysis and explanation of Retirement System financial records.
• Performing Request for Proposals (RFP) as directed by the Malden Retirement Board.
• The preparation of the Annual Operating Budget in excess of $28 million for approval by the Malden Retirement Board and City Council.
• The annual submission of membership and financial data to the Actuary.
• Interpreting the annual Actuarial Report and providing notification to the Mayor and City Council advising annual appropriations due to the Retirement System.  Responsible for notifying the City Controller and Treasurer/Collector of the annual appropriation payment schedule and monitoring timely receipt of the Retirement System appropriation.
• The collection of annual reimbursement from city departments for federally funded and school dept. revolving account employees pursuant to data reported in annual actuarial valuation departmental breakout report.
• The computation, invoicing and collection of pro-rata pension amounts receivable and payable from 104 contributory retirement systems within the Commonwealth of Massachusetts.
• Ensuring that sufficient cash is available to meet monthly pension payroll and operating expense.  Must coordinate asset transfers with investment manager(s) as deemed necessary.
• The preparation and issuance of monthly operating expense and member account disbursements processed through the PTG accounting system; and submitting associated files to Eastern Bank.   
• Overseeing the timely disbursement of terminated membership accounts, as regulated by PERAC and the IRS.  Including the transfer of memberships to 104 contributory retirement systems within the Commonwealth of Massachusetts.
• The issuing of 1099R forms to pensioners and terminated members of the system on the PTG software system.
• In coordination with the City Treasurer, for the timely deposit of tax withholding to the IRS and DOR and the submission of associated year-end reporting to the IRS.
• The preparation of all relevant information for presentation to members of the Malden Retirement Board at monthly Board meetings including monthly financial packet (trial balance, related journals, Eastern bank & M&T statements/reconciliation, o/s check list, asset allocation, expense budget to actual comparison and cash flow forecast).  Maintains the confidentiality and integrity of the reports; their findings; and conclusions until approved by the Malden Retirement Board.  Responsible for coordinating and interpreting various matters involving legal counsel.  Responsible for accurate and timely submission of decisions of the Malden Retirement Board to interested parties.
• The training and supervision of retirement office staff.  Responsible for the daily administration of the retirement office, ensuring staff are effectively administering retirement benefits as legally regulated.  Responsible for maintaining adequate office coverage at all times.
• Ensuring that office staff are properly trained in all computer software applications utilized by the retirement system.
• Conducting retirement board elections as legally regulated.
• Preparing retirement benefit estimates as requested.
• The processing of disability applications, including the collection and recording of various medical records from associated medical facilities, coordinating the convening of Regional Medical Panels with PERAC, preparing disability application files for approval by retirement board and PERAC, and maintaining the confidentiality and integrity of the medical reports.
• The oversight of the monthly pension payroll process, amounting to approximately $2.2 million in benefits per month on the PTG software system,  and providing monthly payroll funding instructions to the City Treasurer.
• Preparing and maintaining office staff payroll and attendance records.
• Monitoring workers compensation benefits awarded to active and retired members of the system and applying any applicable pension off-set as legally required.
• Apprising Malden Retirement System membership of appropriate appeal rights should they be aggrieved by a decision of the Malden Retirement Board and/or PERAC.
• The oversight of proper enrollment of new members entering the system, ensuring that new employees of the City of Malden meet the membership criteria as prescribed by MGL Chapter 32 and Malden Retirement Board supplementary regulations.
• The oversight of the import of member payroll contributions from City’s Harpers payroll system and reconciling any difference in receipts reported by City Treasurer.
• Researching and computing prior service and military service buyback calculations at the request of members of the system.
• Reviewing, maintaining, and implementing Domestic Relations Orders for members of the system.
• Attending monthly Board meetings and educational workshops across the Commonwealth of Massachusetts.
• Attending meetings with city and union officials to review proposed contract language that may relate to members’ retirement benefits, ensuring that contract language does not imply benefits inconsistent with MGL Chapter 32 and Retirement Board supplementary regulations.
• The custody, moving, disposal and oversight of all retirement system records, maintaining the confidentiality and integrity of the records at all times.  As custodian of the records, responsible for appearing in court with said records upon receipt of subpoena.

This job description does not constitute an employment agreement between the employer and employee and is subject to change by the employer as the needs of the employer and requirements of the job change. 

Last updated: December/2025 

Date published:	December 23, 2025