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Massport Retirement Board Supplemental Regulations

Regulations accepted by the board and approved by PERAC

Membership:

March 11, 2013: Subject: Membership: Employees of any member unit of the Massachusetts Port Authority Employees’ Retirement System (MPAERS) who are regularly employed a minimum of 21 hours per week and earn a minimum of $5,000 per year must become members of the MPAERS.

Subject: Membership: Student Employment: Members of the MPAERS shall receive no service credit and the MPAERS accepts no liability for student employment.

Subject: Membership: Service Purchases: New members or members who are reinstated or re-enter active service on or after April 2, 2013 who are eligible to purchase service under M.G.L. Chapter 32, Section 3 will have one year from their date of membership in which to either complete a service purchase or initiate a buyback through payroll deduction at the buyback interest rate (one half of the actuarial interest rate). Any such service purchase initiated after the date of the member’s one year anniversary shall be calculated using an interest rate equivalent to the MPAERS’ actuarial rate of return.

Creditable Service:

November 17, 2023
VACATION BUYBACKS

WHEREAS, pursuant to PERAC’s recommendation and the Board’s supplemental regulation relating to vacation buybacks, the Board was accepting annuity savings deductions with respect to payments received by members in lieu of vacation as of May 1, 2018; and

WHEREAS, on or about November 6, 2018, the Contributory Retirement Appeal Board (CRAB) issued a partial stay (the “Partial Stay”) of its order holding that vacation buybacks are not regular compensation.  Pursuant to the Partial Stay, retirement boards were ordered among other things:

  1. To stop accepting annuity savings deductions with respect to vacation buyback payments to active member employees; and
  2. To refund any previously deposited annuity savings deductions to any member who should retire after the date of the Partial Stay; and
  3. The Board complied with the aforesaid order.

WHEREAS, Chapter 147 of the Acts of 2022, enacted August 4, 2022, added a new Section 106 to Chapter 32, which provides that vacation buyback payments made pursuant to employer vacation buyback programs such as the Authority’s to members who were members in service as of May 1, 2018 and who received vacation buyback payments on or before that date (“Eligible Members”) shall be considered regular compensation as follows:

  1. Payments received by Eligible Members on or before May 1, 2018 are regular compensation as defined by Section 1 of Chapter 32 (Sec. 106(b), first sentence); and
  2. Payments received by Eligible Members after that date are considered regular compensation provided that they are made to a member (a) who consistently participates in the employer’s vacation buyback program in the post-May 1, 2018 time period; and (b) are not received only in the final three years of employment for members who joined the system prior to April 2, 2012 or final five years of employment for members who joined the system after April 2, 2012 or as a result of giving notice of retirement.  (Sec. 106(b), second sentence).

WHEREAS, the Board considers the following reasonable and necessary to comply with and implement Section 106 of Chapter 32:

I. RETIREES

A. Administration With Respect to Post-Partial Stay/Pre-Section 106 Retirees

Retirees who (a) were active members of the system as of May 1, 2018; (b) participated in the Authority’s vacation buyback program prior to retirement at least once on or before May 1, 2018; (c) subsequently retired without vacation buybacks being included in the calculation of their retirement allowances; and (d) upon retirement, received a reimbursement of previously withheld annuity savings deductions pursuant to CRAB’s Partial Stay, may have their allowances recalculated to include applicable buybacks as regular compensation as follows:

  1. Retirement Staff will provide each such eligible retiree a notice containing (a) the amount that must be redeposited in order for the retiree to be entitled to recalculation for his/her retirement allowance, which amount shall be calculated as the sum of the amount refunded without interest, plus the amount that would have been withheld prior to the retiree’s retirement with respect to any additional vacation buybacks absent the CRAB Partial Stay; and (b) the amount of the increase in the member’s monthly benefit if vacation buybacks are included.
  2. Upon receipt of the notice, the retiree shall, within ninety (90) days, elect whether he/she wants his/her allowance recalculated or waives any such recalculation.
  3. If the retiree elects to have his/her benefit recalculated to include vacation buybacks, he/she will have one (1) year to deposit with the system the amount set forth in the notice as due prior to recalculation.  Repayment of the annuity savings deductions reimbursed upon retirement and the payments of the unpaid annuity savings deductions for vacation buybacks for the period from November 6, 2018 to the date of retirement may be made either by personal check or other personal funds transfer or by using funds transferred via rollover from an eligible retirement plan.
  4. Upon receipt of the full deposit, the staff will recalculate the retiree’s allowance to include applicable buybacks retroactive to the date of retirement.
  5. Failure to deposit the amounts required to be deposited as set out in the notice within one (1) year of the date of the notice shall be deemed to be a waiver of the retiree’s right to recalculate his/her retirement allowance.
  6. In the event an eligible member elects not to have his/her benefit recalculated as provided herein, the system shall take no further action with respect thereto and specifically waives any claim to repayment of the annuity savings account amounts refunded upon retirement.

B. Interim Rule for Eligible Members Who Retired or Terminated Employment After May 1, 2018 and Before the Effective Date of this Supplementary Regulation

For Eligible Members who have retired or terminated employment after May 1, 2018 and before the effective date of this supplementary regulation, vacation buyback payments received after May 1, 2018 shall be considered regular compensation unless all the retiree’s or terminated employee’s vacation buyback payments were received solely during the last three or five years of employment, as applicable.

II. ACTIVE EMPLOYEES

A. Current Active Employees who are Eligible Members and who receive vacation buybacks after the effective date of this supplementary regulation

  1. Vacation Buyback payments made pursuant to the Authority’s Vacation Buyback policy subsequent to May 1, 2018 to Eligible Members are considered regular compensation if:

a. The member consistently participates in the Vacation Buyback program as provided below; and

​​​​​​​b. The payments are not made only in the final three (3) years of employment for a member who joined the retirement system prior to April 2, 2012; or

​​​​​​​c. The payments are not made only in the final five (5) years of employment for a member who joined the retirement system on or after April 2, 2012; or

​​​​​​​d. The payments are not made as a result of the member giving notice of retirement.

In the event that the Board should determine that any of the preceding conditions are not met with respect to a member’s vacation buybacks upon retirement, the Board shall reimburse the member for any annuity savings deductions received as a result of the buybacks and the payments shall not be considered regular compensation for purposes of calculating the members retirement allowance.

  1. Consistent Participation:” Participation by Eligible Members in the Authority’s vacation buyback policy in at least half of the years for which the member is eligible to participate in the vacation buyback program between January 1, 2024 or a later effective date of this supplementary regulation and the member’s date of retirement, other than solely during the last three (3) or five (5) years of employment, as applicable, shall be deemed to be “consistent participation” as provided for in Section 106, and the payments received shall be considered regular compensation.
  2. The Board shall request the Authority to cause the annuity savings deductions provided for in G.L. c. 32, § 22(1)(b) to be made from all payments made to participating Eligible Members pursuant to said vacation buyback program following the effective date of this supplementary regulation.
  3. As soon as reasonably possible after the effective date of this supplementary regulation, the retirement staff will provide each affected member with a notice of the amounts due for the unpaid annuity savings deductions with respect to vacation buybacks.  The member shall be required to pay the amount owed pursuant to G.L. c. 32, § 20(5)(c).  Any such member so identified may request the Authority’s Payroll Department to establish a supplementary payment schedule to pay the amount due.

B. Current Active Employees employed by the Authority after May 1, 2018 or who did not participate in the Authority’s vacation buyback program prior to May 1, 2018​​​​​​​

For members in service who were first employed after May 1, 2018 or who did not participate in the Authority’s vacation buyback program prior to May 1, 2018, and who receive payments in lieu of vacation pursuant to the Authority’s vacation buyback program provisions, all such payments shall not be considered regulation compensation for purposes of G.L. c. 32, § 1.

April 26, 2019: For all employees whose service with the Authority commenced on or before the day prior to the effective date of this supplementary regulation, the supplementary regulation then in effect shall continue to apply.  For all employees whose service with the Authority commenced on or after the effective date of this regulation, the following supplementary regulation shall apply:

1(a).  Regularly employed full time employees shall receive one year of creditable service for each year of full time employment as defined for the position.

1(b).  Except as set forth below, for all purposes in G.L. c. 32, creditable service for any member in service regularly employed on a part-time basis shall be calculated on a pro-rated basis as it relates to a full-time position, equal to the period of service multiplied by a fraction, no greater than 1, the numerator of which is the actual number of hours of service performed in each week divided by the number of hours in a normal work week for the member’s position.  The pro-rated service shall be based on the actual hours worked as it relates to the full time hours of the position.

October 1, 2002: In the event that a member claims creditable service pursuant to § 4(2)(c) for temporary or part-time service prior to the time that the member became a member of the system, the member shall submit such documentation as she or he has to verify said service. Service shall be granted equal to the period of service multiplied by a fraction, no greater than 1, the numerator of which is the actual number of hours of service performed in each week divided by the number of hours in a normal work week for the member’s position. In the event that the member and/or the board are able to document the fact of such service and the status (full- or part-time) under which the member was employed but there are no records of the member’s actual service performed, creditable service shall be given according to the member’s status of record unless there is competent evidence that establishes that the actual service was different. For members first employed by the Authority after May 1, 1999, no such creditable service shall be allowed, unless within one year after becoming a member, the member has, pursuant to subsection 4(2)(a) of Chapter 32, filed a detailed statement of the service which he or she is claiming credit.

April 18, 1997: Veterans’ Service Buy-back Regulations
Approval of regulations to implement purchases of veterans’ service pursuant to chapter 71 of the acts of 1996.

May 29, 1996: ERI regulations
Approval of regulations to implement an Early Retirement Incentive program pursuant to section 49 of chapter 133 of the acts of 1992 as amended by chapter 5 of the acts of 1996.

March 27, 1996: Creditable Service During Periods of Leave of Absence
The Massachusetts Port Authority Employees’ Retirement Board will grant creditable service to members of the Retirement System as follows:
The Board shall grant up to one month of creditable service for any authorized leave of absence or medically related leave, planned or not, including maternity leaves, for which the member received no compensation.
Each separate period of continuous absence is subject to the full one-month limit.
The Board shall maintain discretion to limit the above stated rule in situations where the consecutive periods of absence without pay are related to the same cause and are separated by relatively short periods of employment.
All determinations of creditable service shall be subject to review by the Retirement Board at the time of retirement.

April 26, 1993: Regularly employed employees with periods of full time and less than full time employment, shall be granted one full year of creditable service for each year of full time employment and a prorated amount of creditable service for the periods of less than full time employment determined in the same manner as for transferred service referred to above. The prorated service shall be based on the actual hours worked as it relates to the full time hours of the position.

Regularly employed employees who work less than full time throughout their entire employment with Massport, do not have prior full time creditable service with another c. 32 retirement system, and retire from Massport, shall receive one year of creditable service for each year of such part time service. If any such employee should transfer to another retirement system, governed by c. 32 pursuant to which service with Massport would be considered creditable service, the amount of creditable service to which the employee shall be entitled should be that part of a year determined by multiplying one year by a fraction in which the numerator is the total hours worked and the denominator is the total of the full time hours of the position.

Regularly employed full time employees shall receive one year of creditable service for each year of full time employment as defined for the position.

Regular Compensation:

October 11, 2001: Buyback of Vacation as Regular Compensation and Election of Board Members

1. Payments received by a member pursuant to the Authority’s vacation policy buyback provisions shall be considered regular compensation for purposes of G.L. c. 32, § 1.

2.The Secretary-Treasurer of the Authority shall cause the annuity savings deductions provided for in G.L. c. 32, § 22(1)(b) to be made from all payments made to members pursuant to said vacation buyback policy.

Miscellaneous:

July 19, 2023

Electronic Signatures

Pursuant to 840 CMR 28.00, et seq., the Board, through this Supplemental Regulation, allows the use of electronic signatures, as defined in 840 CMR 28.01, for execution of the following forms:

  1. PERAC’s and the System’s Prescribed Forms as defined in 840 CMR 28.02:

New Member Enrollment Form

Application for Superannuation Retirement

Retirement Option Selection Form

Beneficiary Selection Form for Refund of Accumulated Deductions

Beneficiary Selection Form – Option D

 

  1. System Financial Management Forms:

Redemption letters for monthly expenses or off-cycle expenses

Bank wire transfer letters (3) for monthly expenses or off-cycle expenses

Bank wire transfer letters for monthly PRIT drawdowns

Bank appropriation letters

Bank letters directing investment management fee payments

System monthly warrant report and expense reimbursement(s) report

Rebalancing letters (buys, sells, wires)

Bank manual check(s)

  1. System Contracts

In accordance with the provisions of 840 CMR 28.01 and 840 CMR 28.02(c), the Board will institute and maintain appropriate security procedures for the execution of the foregoing forms by way of electronic signatures as authorized herein to verify that an electronic signature, digital signature, record, or performance is that of the specific person executing the forms or for detecting changes or errors in the information in an electronic or digital record.  In particular, the Board allows for electronic signature through DocuSign® which implements such procedures,  including software containing identity verification protocols as a component of the electronic signature services provided.

Nothing contained herein compels the use of electronic signatures if a member or beneficiary wishes to use a “wet signature” in lieu of an electronic signature for execution of the forms set forth herein.

June 27, 2013

By-Laws
The Massachusetts Port Authority Employees’ Retirement System Board (the “Board”), acting pursuant to the powers granted it under the provisions of Chapter 32 of the General Laws as amended by Chapter 487 of the Acts of 1978, hereby establishes By-Laws for use by the Board.

Article I
Retirement Board

Section 1 Powers and Duties of the Board:

The Massachusetts Port Authority Employees’ Retirement System (“MPAERS” or the “Retirement System”) shall be managed by a retirement board consisting of five members as provided in subsection 4 7/8 (b) of Section 20 of Chapter 32 of the General Laws. The retirement board shall have the general powers and duties set forth in subdivision 5 of Section 20 as well as the duties set forth in 840 CMR 1.01.

Section 2 Board Composition:

The membership of the Board shall consist of five members as follows: The Secretary-Treasurer of the Massachusetts Port Authority (the “Authority”) who shall be a member ex officio, a second member appointed by the Authority, a third and fourth member who shall be elected by the members in or retired from service of this system from among their number for a term of three years, a fifth member who shall not be an employee, retiree or official of the government unit and who shall be appointed by the other four members for a term of three years. The terms of the third and fourth members shall be arranged so as not to expire in the same year as the term of the fifth member (M.G.L Chapter 32, Section 20 (4 7/8) (b)).

Section 3 Election or Appointment of Successors:

Each member of the retirement board shall continue to hold office until the expiration of his/her term and until qualification of his/her successor. Prior to the expiration of the term of office of the third and fourth members, successors shall be elected for a three- year term by the members in or retired from service of the system. The election shall be held within a period of ninety days prior to the expiration of the term of office of the incumbent third and fourth members. Elections shall be held in accordance with both the Standard Rules for Elections promulgated by the Public Employees Retirement Administration in (840 CMR 7 00 to 7 13) and the MPAERS Supplementary Election Regulations. In the case of a vacancy during the third or fourth members’ three year term, a special election shall be held for the unexpired portion of the third or fourth members’ term within a period of ninety days of a vacancy. No later than thirty days after the expiration of the term of office of the fifth member, the other four members, by a majority vote, shall appoint a successor for a three year term. If a fifth member is not appointed by the other four members within thirty days following the expiration of his or her term of office, the Members of the Authority shall appoint the fifth member. In the case of a vacancy during the fifth member’s term, the other four members shall appoint a successor within thirty days after a vacancy for the unexpired portion of the fifth member’s term, and, if a fifth member is not appointed by the other four members within the specified thirty days, the Members of the Authority shall appoint a fifth member.

Section 4 Compensation of Board Members:

The elected and appointed members of the Board upon acceptance of Chapter 32 Section 20(6)(a) by the Authority’s Board of Directors shall receive a stipend of three thousand dollars per annum, provided however, that said stipend shall be paid from such funds under the control of said Board as shall be determined by the Public Administration Retirement Administration Commission. Members may also be reimbursed from the expense fund of the system for any expense or loss of salary or wages which they may incur through service on the Board (M.G.L. Chapter 32, Section 20 (4 7/8)(c)).

Article II
Organization and Meetings

Section 1 Chairman:

The Board shall elect one of its members to serve as chairman for a term of three years or until the expiration of that member’s term as a member of the Board. The Chair shall preside over all meetings of the Board.

Section 2 Vice Chairman:

The Board shall elect one of its members to serve as vice chairman for a term of three years or until the expiration of the member’s term as a member of the Board. In the absence of the Chairman, the Vice Chairman shall preside at a meeting of the Board.

Section 3 Director of Retirement:

The Board shall appoint a Director of Retirement. The Director of Retirement shall serve as secretary or clerk of the Board. He/she shall keep a true and accurate record of the proceedings of the Board and shall be custodian of all books, documents and papers filed with the Board and of the minute book or journal of the Board. He/she shall have authority to cause copies to be made of all minutes and other records and documents of the Board and to certify to the effect that such copies are true copies, and all persons dealing with the Board may rely on such certifications. He/she shall cause notice to be given of all meetings of the Board as required by law or these By-laws.

Section 4 Other Employees:

The Board shall employ other staff as may be required to effectively and efficiently transact the business of the system.

Section 5 Meetings:

The Board meetings shall be held at the principal offices of the retirement system or at such other place as may from time to time be fixed by vote of the Board or as shall be specified in the notice of the meeting.

A. Regular Meetings: A regular meeting of the Board shall be held each month generally on the last Wednesday of the month unless otherwise specified by the Board.

B. Notice: Written notice, specifying the date, place, and hour (but not necessarily the purpose) of the meeting, must be served on or sent or mailed to each member but not less than two days before the meeting unless notice is waived by the member. Such notice shall also be filed and posted as required under Section 11A 1/2of Chapter 30A of the General Laws.

C. Special Meetings: Special meetings may be held at any time upon the call of the chairman or a majority of the other members.

D. Disability Hearings: If at all possible, disability hearings will be scheduled as Special Meetings and not part of a Regular Meeting agenda. Should board member schedules not permit this, disability hearings may be conducted during a Regular meeting.

1. Disability applicants will be given the choice of whether or not their hearing will be held in Executive Session.

2. A Summary of Application will be provided to the Board and applicant prior to the hearing.

3. The applicant will have the opportunity to review with the Board any evidence submitted as part of the disability application.

Section 6 Minutes:

The Board shall keep minutes for all meetings. The Director of Retirement shall be responsible for preparing the minutes.

Section 7 Quorum:

Three or more members present at any meeting shall constitute a quorum and the affirmative vote of a majority shall be necessary for any action taken by the Board. At any meeting at which a quorum is present, any action may be taken by the vote of the members present. If a quorum is not present at any meeting, the members present shall adjourn the meeting, without further notice, until a quorum has been obtained.

Section 8 Procedure:

A point of order as to procedure raised by any Member in the course of a regular or special meeting shall be resolved by a ruling of the Chair on the point of order. A member may appeal a ruling of the Chair to the Board. In the case of an appeal of a ruling of the Chair to the Board, Robert’s Rules of Order Revised (“Roberts Rules”) shall guide the Board in its deliberation in all cases in which Robert’s Rules are applicable and in which they are not in conflict with these By-laws or the General Laws of the Commonwealth of Massachusetts. The affirmative vote of at least three Members shall be required to overrule the Chair.

Section 9 Investment Committee:

The investment committee of the board shall consist of the ex-officio member, as he is the Treasurer-Custodian of the funds of the system, and the Director of Retirement. The Investment Committee shall be responsible for implementing the investment policy of the Board on a daily basis, for daily supervision of the Investment Advisor, Custodian, and Investment Managers, and for keeping the Board advised of all matters material to the Board’s management of the MPAERS funds.

Section 10 Human Resource and Compensation Committee:

The Human Resources and Compensation Committee shall consist of not less than two Members of the Board, one whom shall serve as Committee Chair as appointed by resolution of the Members of the Board. In addition, the Director of Retirement shall serve as a member of the Committee. The Human Resource and Compensation Committee shall be responsible for the management, oversight and development of the MPAERS programs, policies and procedures relating to its employees. All meetings of the committee may be attended by any other member of the Board who may participate in discussions as a non-voting member. MPAERS staff shall be assigned by the Director of Retirement, as appropriate, to support the committee

Section 11 Ad-Hoc Committees:

The Chair may, in his or her sole discretion, establish an ad-hoc committee to consider a specific matter and report back to the Board. The Chair will appoint the Committee Chair, who must be a Board member, and the members of the Committee.

Article III
Maintenance and Inspection of Records

The Board shall maintain at its principal offices the original or attested copies of these By-laws, records of all Board member elections, records of all Board meetings and all records required to be maintained under the provisions of Chapter 32 or any other provision of the General Laws. Such copies and records as shall pertain to any member in service or member inactive shall be open at all reasonable times to the inspection of the member for a proper purpose, and in accordance with the Standard Rules for Disclosure of Information promulgated by the Public Employee Retirement Administration Commission (840 CMR 6 00 to 6 14).

Article IV
Management of Funds

Section 1 Checks, Notes, Drafts, and Other Instruments:

Checks, notes, drafts, and other instruments for the payment of money drawn or endorsed in the name of the Retirement System shall be signed by the Treasurer-Custodian of the Retirement System upon vouchers signed by both the Director of Retirement and the Treasurer-Custodian. In the Treasurer-Custodian’s absence, checks, notes, drafts, and other instruments for payment of money drawn or endorsed in the name of the Retirement System shall be signed by the second member appointed by the Authority.

Section 2 Investments:

The Board shall invest and reinvest the funds of the Retirement System, to the extent not required for current disbursements, as provided in Section 23 of Chapter 32 of the General Laws. The Board may, by vote, employ any qualified company, corporation, firm or person to advise it on the investment of the funds and may pay for such advice.

Section 3 Maintenance of Funds:

The board shall by vote designate one or more depository banks or trust companies, as provided in Section 23 of Chapter 32 of the General Laws, to maintain funds and securities of the Retirement System. The Board shall by resolution designate a custodian or custodians of the securities of the Retirement System in accordance with the provisions of said Section 23, and may, as permitted by that section, cause any stock, bond or other security or cash of the system to be registered and held, or deposited and held, in the name of one or more nominees appointed by the custodian for the purpose of facilitating security trading and/or money management.

Section 4 Annual Audits:

Promptly after the close of each fiscal year the Board shall cause an audit to be made of its books and accounts by an independent public accountant or firm of independent public accountants of recognized ability and standing nationwide. The report of this audit shall be open to the inspection of all members of the Retirement System, and their agents and representatives. This audit shall be in addition to that required by Section 21 of Chapter 32.

Article V
Actuarial Valuation

The board shall, at such intervals as it shall establish by vote, but at least every two years, cause an actuarial valuation to be performed with regard to the Retirement System assets and liabilities for purposes of determining funding requirements under Section 22 of Chapter 32 of the General Laws and under Section 20 of Chapter 487 of the Acts of 1978. In order to carry out these valuations, the Board shall employ as a pension consultant an independent actuarial consulting organization having a favorable repute for skill and experience in such work. In lieu of this requirement the Board shall rely upon a professional actuary’s certification of its pension liabilities for any year in which such certification is provided for by the Authority. Certification of such valuations shall be provided to the Public Employee Retirement Administration Commission’s actuary as part of the information required to be provided under Subsection (7)(h) of Section 22 of Chapter 32 of the General Laws.

Article VI
Fiscal Year

The Fiscal year of the retirement system shall be the year ending with the 31st day of December in each year.

Article VII
Amendment

The By-laws may be amended or repealed and any new By-laws may be adopted at any regular special meeting of the Board; provided, however, that notice of a proposal to alter, amend, or repeal these By-laws shall be included in the anticipated topic listing for any meeting at which such alteration, amendment or repeal or adoption is considered, and provided, that in each case the affirmative vote of three Members of the Board is required, and such amendments or new By-laws are subject to approval of the Public Employee Retirement Administration Commission as provided under Subsection 4 of Section 21 of Chapter 32 of the General Laws.

Article VIII
Controlling Effect of Provision of Law

Each of the provisions of these By-laws shall be subject to and controlled by specific provisions of law, and particularly Chapter 32 of General Laws, which relate to their subject matter.

Article IX
Indemnification

Both the Board and Director of Retirement of the Retirement System are deemed "officers" of the Authority for purposes of indemnification as provided in Article VII of the Authority's By-laws.

October 11, 2001
Election of Board Members
7.07(3) … No campaign paraphernalia or literature on behalf of any candidate will be delivered or distributed to voting members by the Retirement Board or its staff; provided, however that this shall not preclude the Board from utilizing its newsletter or other materials to publish information about the election and the candidates as it may determine to be in the best interest of the members and a fair election. …

7.12 - The Massachusetts Port Authority Employees’ Retirement System shall conduct a simultaneous election for the two elected members of the Board. Both terms of the elected members shall be for three years and expire on the same date. In conducting the election, the Board shall place all candidates who have been nominated in conformance with 840 CMR 7.04 on one ballot. All eligible candidates shall be listed on the ballot in an order determined by a random drawing of the names of the candidate. In the event that only two candidates have been nominated, the Board shall declare said candidates to be the elected members of the Board, no elections shall be held, and said candidates shall take office and serve in all respects as though he or she had been elected by election. If there are more than two candidates, an election shall be conducted and each member of or retired from the Massachusetts Port Authority Employees’ Retirement System shall be allowed to vote for not more than two candidates. Upon tabulation of the ballots, the two candidates who receive the most votes shall be declared the elected members of the Board.

November 12, 1992
Election Rules
Approval of revised supplementary rules for election of the second board member.

September 23, 1988
By-Laws of Board
Approval of by-laws pertaining to: powers and duties of the board; election or appointment of successors; compensation of board members; organization and meetings; maintenance and inspection of records; management of funds; actuarial valuation, etc.

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