Bill > H2745

This bill establishes a new governance structure for the Hampden County Regional Retirement System, creating a seven-member board with a unique composition of elected and appointed members. Specifically, six board members will be elected: three at-large by all system members (active and retired), one by community agency administrators, one by housing authority and district administrators, and one by administrators from other regional agencies. The seventh member will be appointed by the system's member agency treasurers for a three-year term. Administrators from member agencies will oversee the board, including electing three board members and approving bylaws by a two-thirds vote. The board will be responsible for hiring the system administrator, approving budgets, and overseeing operations. Board members are limited to three consecutive terms, with staggered terms to ensure continuity. The board must elect a chair every two years, and no more than two board members can be from the same member agency. The bill also requires the board to create comprehensive bylaws within 180 days of formation, covering organizational structure, election procedures, investment policies, and other key administrative functions. The new governance structure aims to ensure diverse representation and transparent management of the regional retirement system.

Labor and Employment

https://malegislature.gov/Bills/194/H2745