The Brockton Retirement Board (“Board”) is seeking qualified applicants for the position of Fifth Member of the Board. This person will be chosen by the other four members of the Board for a three-year term commencing February 26, 2025. The Fifth Member, together with the other four members of the Board, acts as a fiduciary. The Board oversees a staff of five, the administration of approximately 4,500 active, retired, and inactive members, and a portfolio of roughly $820M assets under management. The Board typically meets monthly, generally the fourth Tuesday of each month at 9:30A.M. and at other times as needed. These meetings are held at the Brockton Retirement Board’s Office at 1322 Belmont Street, Brockton, MA 02301. A monthly stipend of $375, or $4,500 per annum is paid.
Board Members are required to:
- Complete 18 hours of educational sessions during his or her three-year term
- File an Annual Statement of Financial Interest with the Public Employee Retirement Administration Commission
- Complete Conflict of Interest and Ethics Training; familiarize oneself with the Massachusetts Open Meeting Law
- Familiarize oneself with MGL Chapter 32, the rules and regulations promulgated by PERAC, and rules and regulations adopted by the Board and approved by PERAC. Travel to meetings and trainings are also necessary.
- Must comply with MGL Chapter 268A, the State Ethics Law.
If you are interested in applying for the Fifth Member of the Brockton Retirement Board position, please submit or email a letter of interest and/or resume to the Brockton Retirement Office, with subject heading ‘FIFTH MEMBER” c/o Jeanne Martineau, Executive Director, to jmartineau@brocktonretirement.com by noon on Friday January 03, 2025. Incumbent is applying.
Prohibitions:
Massachusetts General Laws, Chapter 32, § 20 (4) (b), the Fifth Member shall NOT be an employee, retiree or official (elected or appointed) of the Brockton Retirement System.
Massachusetts General Law Chapter 32, s. 20 (47/8E). No employee, contractor, vendor or person receiving remuneration, financial benefit or consideration of any kind, other than a retirement benefit or the statutory stipend for serving on the retirement board, from a retirement board or from a person doing business with a retirement board shall be eligible to serve on a retirement board; provided, however, that an employee of a retirement board may serve on a retirement board other than the retirement board by which the person is employed; and provided further, this subdivision shall apply to only to individuals who first become members of a retirement board on or after April 2, 2012.
840 Code of Massachusetts Regulations 1.03. No individual who has been convicted of robbery, bribery, extortion, embezzlement, fraud, grand larceny, burglary, arson, a felony violation of state or federal law defined in Section 102(a) of the Comprehensive Drug Abuse Prevention and Control Act of 1970, murder, rape, kidnapping, perjury, assault with intent to kill, any crime described in Section 9(a)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-9(a)(1), a violation of S3ection 302 of eh Labor Management Relations Act, 1947 (29 U.S.C. 186), a violation of Chapter 63 of Title 18, United States Code, a violation of the Labor- Management Reporting and Disclosure Act of 1959 (29 U.S.C. 401), any felony involving abuse or misuse of such person’s position or employment in labor organization or employee benefit plan to seek or obtain an illegal gain at the expense of the members of the labor organization or the beneficiaries of the employee benefit plan, or conspiracy to commit any such crimes, or a crime in which any of the foregoing is an element or has been found by the Public Employee Retirement Administration Commission or any court to have violated his/her fiduciary duty or has been found by the Ethics Commission or any court to have violated M.G.L. c 268A, shall be permitted to serve as a member of a retirement board.
