Massachusetts Housing Finance Agency Employees Retirement System (“Board”) is seeking applicants for the Fifth Member of the Board, the Fifth member is appointed by the other four board members, for a three-year term commencing January 1, 2024.
The five-member Board acts as fiduciaries of the Massachusetts Housing Finance Agency Employees Retirement System and performs their duties solely in the interest of its members and beneficiaries. As of December 31, 2022, the Board oversees the administration of approximately 589 active, retired, and inactive members and approximately $219 million investment portfolio. The Executive Director conducts the day-to-day administration. Board members are paid a yearly stipend of $4,500.
The Board meets once a month, generally on the second Tuesday of the month at 1:00 pm. Board members are required to:
- File an Annual Statement of Financial Interest with PERAC detailing personal assets
- Complete Conflict of Interest and Ethics training biannually
- Develop knowledge of Massachusetts Open Meeting Law
- Develop knowledge of Massachusetts General Laws, Chapter 32
- Attend meetings, seminars and educational trainings as necessary
- Complete 18 hours of training in all three-year spans during their five-year term to continue to serve on the Board.
- A minimum of three credits of training must be earned annually, with a maximum of nine credited per year.
- A fifth member shall not be a vendor, or an employee, retiree or official of the retirement system, or of any of its constituent governmental units.
Interested candidates should submit their letter of interest and resume to Joseph M. Petty, Executive Secretary electronically only to email@example.com no later than 12:00 pm noon Friday, November 3, 2023.