PERAC Memo #25 - 2006: PERAC Regular Compensation Regulation
PERAC Regular Compensation Regulation
View original on MA State Library →Summary
This memo transmits amendments to PERAC's regulation 840 CMR 15.00 governing regular compensation, effective April 7, 2006, with the key change in 15.03(2) addressing treatment of payments from salary augmentation/enhancement plans. Boards should review the attached amended regulation, note additional training sessions being offered (including a newly added May 15, 2006 session in Somerville) to cover the changes, and may submit questions in advance via email for those sessions.
Full Text
Memorandum # 25/2006
M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: PERAC Regular Compensation Regulation
DATE: April 19, 2006
Attached is a copy of the amendments to PERAC’s regulation, 840 CMR 15.00 including the provision dealing with regular compensation. The regulation was published in the Massachusetts Register on April 7, 2006 and became effective on that day.
The primary change in the regulation is contained in 840 CMR 15.03(2) and deals with how payments made as salary augmentation plans or salary enhancement programs are to be treated.
PERAC will be conducting training sessions for Board Members and Board staff on May 9, 11, 12 and 17, 2006. These sessions have proven to be very much in demand, so we have scheduled another for Monday, May 15, 2006 in Somerville. Please see the materials enclosed with PERAC Memo # 24/2006 for more information and registration for this added session.
Questions that you may wish to have specifically dealt with during the training sessions can be e-mailed to jacorrigan@per.state.ma.us.
Please note, the amended regulation has not been posted on PERAC’s website. It should be available there shortly.
Attachment