MACRS

On November 18, 2011 Governor Deval Patrick signed "Pension Reform III" into law, as Chapter 176, Acts of 2011. A copy of the new law can be found here.

In addition to the sweeping changes Chapter 176 makes to the retirement benefits of new employees, hired on or after April 2, 2012, the bill also alters the governance structure of our 105 public retirement systems. Key changes include mandatory continuing education for board members, annual financial disclosure by board members, new procurement processes and regulatory oversight enhancements.

MACRS will provide members with updated information as it becomes available.

MACRS is pleased to cohost a football game fundraiser to support the Springfield Tornado Restoration at the Sheraton on Sunday October 16 @ 3:00 in the Mahogany Room before the welcome reception. The Patriots will be facing off against the Dallas Cowboys, kickoff is at 4:15 PM.

The event is sponsored by MACRS and the following Associate Members:

The MACRS Executive Board is pleased to announce our preliminary Fall Conference Agenda for Springfield, October 16-19, 2011. We are pleased to be joined by Auditor Suzanne Bump and Representative John Scibak (House Chairman, Joint Committee on Public Service) on Monday morning to kick-off our annual robust agenda.

With so much legisilative activity surrounding public pensions, health care and other issues of particular importance to the public retirement community this fall's conference should be of great interest. Please visit our Conference section for further details, along with registration forms.

MACRS Fall 2011 Conference Agenda (As of 10/6/11)

Save The Date

August 23, 2011

9:30 AM to 3:30 PM
Auburn Elks
Auburn, MA

Lunch will be provided.

To register via email, please contact Kevin Regan ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ) by Friday, August 19, 2011.

For Meeting Agenda, click here.

Travel Directions
From points east & west, via Mass Pike Interstate 90, take exit 10 onto Route 12 South. Travel 7/10 of a mile, pass through one set of trafic lights, pass by Waterman Road and Warren Road on the right. Take a right into the Lodge before Jiffy Lube.

From points east, via Interstate 290 West, exit 8 in Auburn. Or From points north, via interstate 190 South onto Interstate 290 West, exit 8 in Auburn. Then From Interstate 290 take exit 8 in Auburn onto Route 12 South. Travel 9/10 of a mile, pass through one set of trafic lights, pass by Waterman Road and Warren Road on the right. Take a right into the Lodge before Jiffy Lube.

38 Bills On Tap For April 7

The legislature’s Joint Committee on Public Service is scheduled to hold a public hearing Thursday, April 7, 2011 on the various pension reform proposals now under review. At this time, there are 38 separate bills scheduled for the State House hearing, which begins at 10:00 am in room B-1.

Among the most closely watched proposals are Governor Patrick’s so-called “Pension Reform 3” (H35) and PERAC’s governance reform package (House Bills 16, 17, 18, 19, 20 and 21). MACRS officials will be on hand and offer the Association’s testimony.

Click here to view the complete April 7, 2011 Public Service hearing list.

An NCPERS Special Report

Since the mid-1990s, legislation has been proposed to replace state and local defined benefit (DB) pension plans with defined contribution (DC) plans. The pace of these proposals increased from 2003 to 2006, partly because of the equity market downturn in 2000–2002 that increased contribution rates for many DB plans, both public and private. Although the pace of DC proposals fell in 2007– 2008, they increased again as a result of the financial market downturn in 2008–2009.

This paper discusses the top 10 advantages of maintaining DB pension plans. At issue is not whether state and local employees should have access to DC plans – many already do in conjunction with their DB plans or through supplemental DC-type plans, which play a useful role in providing additional tax-deferred retirement savings.1 Rather, the issue is whether DB plans should be eliminated and replaced with DC plans.

Please click here to view and print this important report from the National Conference of Public Employee Retirement Systems (NCPERS) in its entirety.

Tuesday, August 17, 2010 in Auburn, MA

MACRS will host an Administrators and Staff Summer Educational Session at the Auburn Elks on Tuesday, August 17, from 10:00 AM to 3:00 PM. All retirement board administrators and staff are welcome to attend. Lunch will be served.

There is no charge for the session. Those interested in attending should RSVP to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

The Auburn Elks is located at 754 Southbridge Street, Auburn, MA. Please click here for directions.

2010 Summer Educational Session Agenda

APRIL 12, 201O: The Senate Ways and Means Committee favorably released S2377, An Act Relative to Pension Governance Reform. The bill has been ordered to a Third Reading and is likely to be debated in the Senate on Wednesday, April 14. If approved by the Senate, the bill will then be sent to the House for further action.

MACRS is currently reviewing the bill and will update members on further developments.

The Massachusetts Association of Contributory Retirement Systems (MACRS) is pleased to announce the agenda for our Spring 2010 Annual Conference, to be held June 6 to 9th, Hyannis, MA.

MACRS_2010_Annual_Conference_Draft_Agenda.pdf

MACRS REGISTRATION REMINDERS

PLEASE NOTE THE CHANGES IN HOTEL ROOM CANCELATION POLICY

THERE WILL BE A FEE FOR CONFERENCE CANCELATION

THERE ARE 4  REGISTRATION FORMS

• HOTEL (Registration forms have been mailed to all MACRS members, via your local retirement board)

• PRE-CONFERENCE (2010_Trustee_Workshop_Registration_Form.pdf)

• ANNUAL MEETING AND CONFERENCE (Annual_Meeting_R._B._Registration_Form.pdf)

• A FORM WITH A DISCOUNT FOR ATTENDING BOTH (BOOTH_REG_FORM_2010_SPRING.pdf)

COPY THE REGISTRATION FORM IF MORE SPACE IS NEEDED

QUESTIONS AND COMMENTS ARE WELCOME @ This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 413 246 9238

KEVIN REGAN CONFERENCE PLANNER

Richard Heidlage has presented a preliminary Agenda for the Comprehensive Training
Program for Board Members and Staff. MACRS foresees very few changes to the agenda as we move forward.

This program is not just for new members, anyone can attend, and will be held on June 5th and 6th just prior to our main conference.

The main conference agenda is almost completed and will include:
•    The Business meeting
•    MACRS elections
•    A presentation on the open meeting law
•    A presentation on record keeping
•    The Ethics Commission will be doing an extended program on Monday afternoon covering the new ethics law
•    A liability insurance update
•    A PERAC update
•    A legislative update
•    A DALA update
•    Atty. Gibson promise’s an excellent legal panel on Wednesday
•    And much more
With the legislative changes that have been made or are proposed, we will have a busy agenda.

MACRS_2010_COMPREHENSIVE_TRAINING_PROGRAM.pdf

Please check back soon for more information.