PERAC Memo #15 - 2002: Guidelines for Retirement Board Travel Supplemental Regulations

Memorandum # 15/2002

M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Guidelines for Retirement Board Travel Supplemental Regulations

DATE: March 7, 2002

Pursuant to a directive of the Commission, enclosed are Guidelines for Retirement Board Travel Supplemental Regulations. All Retirement Boards are directed to submit proposed Retirement Board Travel Supplemental Regulations to the Commission for review under the provisions of G.L. c. 7, § 50 and G.L. c. 32, § 21(4) within 60 days of the issuance this Memorandum. These Guidelines are intended to assist Retirement Boards in drafting appropriate supplemental regulations on Board Member and staff travel.

As you will note, these Guidelines do not prohibit travel by Board Members or staff. To the contrary, the Commission supports attendance and participation by Board Members and staff at relevant educational conferences, meetings and seminars. These Guidelines are intended to assure that such travel is conducted and paid for in an appropriate manner and that all travel related expenses are properly documented and to establish uniformity. Board supplemental regulations must, at a minimum, include all the aspects outlined in these Guidelines. Travel by Board Members and staff conducted according the Board’s supplemental regulations consistent with these Guidelines will assure that Board Members’ fiduciary and ethical responsibilities are met.

Boards should carefully review these Guidelines paying special attention to travel authorization, documentation, reimbursements, payments or reimbursements by third parties and penalties for violation. Boards should consult with their legal counsel and other advisors to assure that the proposed supplemental regulations submitted, at a minimum, meet the requirements of the Guidelines.

I know that all Board Members are concerned about properly carrying out their ethical and fiduciary responsibilities. The Commission shares that concern and believes that Board Travel Supplemental Regulations consistent with these Guidelines will allow Retirement System M E M O R A N D U M - Page Two TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Guidelines for Retirement Board Travel Supplemental Regulations DATE: March 7, 2002

members to be confident that their retirement funds are only being expended on appropriate travel conducted to ultimately benefit the Retirement Systems and withstand public scrutiny.

Any Retirement Board, which has received approval for Travel Supplemental Regulations in the past, must revise those regulations to be consistent with these Guidelines and resubmit the regulations for approval within 60 days of the issuance of this Memorandum.

We trust the foregoing is of assistance. If you have further questions or concerns, please contact this office.