Wakefield Retirement Board Travel Regulations

Regulations accepted by the board and approved by PERAC

Approved 11/26/2018

All travel-related expenses that are to be paid for by the Board shall be related to the purpose of the authorized travel and shall be cost effective.

Authorization for Travel and Travel-Related Expenditures

The Board shall pay for or make reimbursement to Board Members and the staff of the Retirement Board for all travel and lodging expenses specifically authorized in these regulations.

1. Travel and related expenses are to be approved by the Board in advance of the travel.
2. 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.
3. The nature of the travel, its purpose and estimated cost shall be outlined on a travel authorization form. The form must include a statement by the traveler, certifying that the expenses were incidental to the approved travel. Brochures for seminars or other presentations should accompany the request for travel where available.
4. A statement describing the presentation, conference or seminar should be entered into the minutes of the meeting following the travel.
5. The Board authorizes the Manager/Board Administrator to approve travel for other members of the Board’s staff.

Required Documentation for Reimbursement

Assuming that prior authorization was received, Board Members and staff are to be reimbursed for travel-related expenses. The Member/Staff shall fill out all reimbursement requests on the appropriate form to be used in connection with any requests for reimbursement, requiring that the traveler certify that the expenses were incurred and were necessary and incidental to the approved travel. Requests for reimbursement should be submitted within a reasonable amount of time after the expenses are incurred, but no later than 60 days. The request shall be reviewed at the subsequent Board meeting.

1. Any requests for reimbursement should be completed and properly approved after incurring any travel, transportation or meal or other travel-related expenses and before reimbursement takes place.
2. Original itemized receipts must be submitted for all expenses including transportation, lodging, and other expenses incidental to travel.
3. Receipts should be required for individual expenses over $10. Travel-related expenses that are under $10 (such as gratuities) should be fully described and reimbursed based on the traveler’s certification that the expenses were necessary and incidental to the approved travel.
4. Any travel-related expenditures which have not been properly documented or approved or are not in conformity with the Board’s regulations will be rejected or adjusted.
5. Reimbursement shall only be made to the person who actually made payment for the expense.
6. The reimbursement request form must be signed by the person seeking reimbursement and signed under the pains and penalties of perjury.

Travel Arrangements

The Manager/Board Administrator will be responsible for making all travel arrangements and for assisting Board Members and staff in completing authorization and reimbursement forms. When making travel arrangements, government rates or business rates will be secured.

An extended stay may be authorized if the net cost to the Board will be lower. For example, if airline fare is lowered by staying an extra day and the cost of accommodations and meals for that extra day results in a net savings to the Board, an extended stay can be authorized.

Transportation

The Board will allow for airline, train, bus, automobile rental, taxi, or other form of public conveyance (as cost effective) to be utilized.

All travel should be at the lowest fare available, generally economy/coach fare.

The Board prohibits payment for airline club memberships.

The source of rental cars must be a nationally recognized rental agency. The rental rate will be negotiated by the staff member responsible for arranging travel. It is the traveler’s responsibility to verify that the rate charged is the rate negotiated.

All rental car users must accept optional insurance coverage for rental cars.

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

All fines or other expenses incurred as a result of traffic violations while on Board-approved travel will not be reimbursed. The traveler is personally responsible for such expenses.

All Board Members and staff will be reimbursed at a rate equal to the non-taxable current reimbursement rate set by the Internal Revenue Service.  All parking fees and toll charges will be reimbursed with proper receipts.

Lodging

All reservations for accommodations should be made in advance by the Board staff at the hotel of the conference the Board Member or staff is attending. If that hotel is unavailable then reservations at a comparable hotel will be arranged. It is the traveler’s responsibility to verify that the rate charged is the rate negotiated by the staff member.

Meals

The maximum daily reimbursable amount for the cost of meals while on Board authorized travel is $100.00 per day. The maximum daily reimbursement may be exceeded if approved travel is to a high-cost location.

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

Lodging and meals included in the cost of registration will not be reimbursed.

Other Reimbursable and Non-Reimbursable Expenses

Other reimbursable expenses that require proper supporting receipts include gratuities paid in accordance with local custom, telephone expenses limited to Board or business-related calls and one personal call per day, Internet connections charges, costs for faxing, and costs for necessary copying.

Expenses that are not reimbursable include personal expenses, for example, in-room movies, mini-bar charges, gym fees, entertainment or recreational expenses, laundry and dry cleaning and any payments for personal services.

Alcoholic beverages will not be reimbursed.

Cash Advances

Cash advances in connection with anticipated expenses will not be permitted.

Board Credit Cards

The Board does not authorize usage of credit cards issued to the Board.

Personal Travel Combined with Board Related Travel

If personal travel is combined with Board-related travel, the personal portion of the trip will be clearly identified and paid for by the traveler. Travel expenses or any other expenses incurred by a spouse, relative, friend or other individual accompanying a Board Member or Board staff will be considered to be personal travel and will, in no event, be a proper expense of the Retirement Board.

Payments or Reimbursements for Expenses by Third Parties

The Board prohibits the providing to or receipt by a Board Member or staff member of anything of substantial value from any person, firm, partnership or other entity which may be reasonably expected to seek to do business with or is seeking to do business with or presently is doing business with a Retirement Board or any person, firm or other entity that solicits or makes referrals or which may be reasonably expected to solicit or make referrals of any client on behalf of such a person; firm, partnership or other entity. The Board prohibits the providing to and the receipt of anything of substantial value from such a person, firm, partnership or other entity indirectly through any person, firm, association, organization or other entity.

A Board Member/Staff may participate in legitimate speaking engagements in connection with their positions on the Retirement Board or as a member of the Board’s staff and the Board may accept reimbursements from third parties necessary to cover travel-related costs for such engagements.

Acceptance of an honorarium or any other form of compensation is strictly prohibited.

To be considered a legitimate speaking engagement, the presentation must be formally scheduled on the agenda of a convention or conference.

The speaking engagement must be scheduled in advance of the Board Member’s or staff member’s arrival at the event.

The presentation must be before an organization that would normally have outside speakers address them at such an event.

The presentation cannot be perfunctory, but should significantly contribute to the event, taking onto account such factors as the length of the speech or presentation, the size of the audience, and the extent to which the speaker is providing substantive or unique information or viewpoints.

The Retirement Board can be reimbursed by a third party for expenses only to the extent necessary for making the speech or presentation.

Under no circumstances can a Board Member or Board staff member receive reimbursement or any other payment or compensation from a third party.

Violation of the Board Travel Regulations

Any person or entity that violates these Retirement Board regulations adopted and approved by the Commission 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 PERAC.