The Springfield Retirement Board will accept applications for applicants interested in serving in the position of Fifth Member of the Springfield Retirement Board. The Fifth Member cannot be an employee, a retiree, or official of the City of Springfield or any governmental unit within the Springfield Retirement System. This person will be chosen by the other four members of the Springfield Retirement Board for a three year term commencing August 1, 2018. The Fifth Member, together with the other four members of the Board, acts as a fiduciary of the Springfield Retirement System. The Board normally meets one day a month, generally the first Wednesday of each month at 5:00 PM, and at other times as needed. These meetings are held at the Springfield Retirement Conference Room at 70 Tapley Street, MA. The Fifth Member is required to complete 18 hours of educational sessions during his or her three year term and to file an Annual Statement of Financial Interest with the Public Employee Retirement Administration Commission, complete Conflict of Interest and Ethics Training, and become familiar with the Massachusetts Open Meeting Law. In addition, the Fifth Member should become familiar with MGL Chapter 32, the rules and regulations promulgated by PERAC, and rules and regulations adopted by the Board and approved by PERAC. Travel to meetings and trainings are also necessary. Board Members must comply with MGL Chapter 268A, the State Ethics Law. Board members are paid a yearly stipend of $3,000.00.
If you are interested in applying for the Fifth Member of the Springfield Retirement Board position, please mail a letter of interest and/or resume to the Springfield Retirement Office, c/o Susana Baltazar, Executive Director, 70 Tapley Street, Springfield, MA 01104 or email your information to sbaltazar@springfieldcityhall.com by noon on May 29, 2018.
Prohibitions:
Massachusetts General Laws, Chapter 32, § 20 (4) (b), the Fifth Member shall NOT be an employee, retiree or official (elected or appointed) of the Springfield Retirement System.
Massachusetts General Law Chapter 32, s. 20 (47/8E). No employee, contractor, vendor or person receiving remuneration, financial benefit or consideration of any kind, other than a retirement benefit or the statutory stipend for serving on the retirement board, from a retirement board or from a person doing business with a retirement board shall be eligible to serve on a retirement board; provided, however, that an employee of a retirement board may serve on a retirement board other than the retirement board by which the person is employed; and provided further, this subdivision shall apply to only to individuals who first become members of a retirement board on or after April 2,2012.
840 Code of Massachusetts Regulations 1.03. 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 S3ection 302 of eh Labor Management Relations Act, 1947 (29 U.S.C. 186), a violation of Chapter 63 of Title 18, 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 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 Public Employee Retirement Administration 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 be permitted to serve as a member of a retirement board.
