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MACRS and others push reforms on retirement-board authority, records and fiduciary duties
5572168 · June 25, 2025
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Summary
Witnesses from MACRS and the Massachusetts Association of Retirement Systems supported bills to clarify retirement boards’ legislative status, standardize documentary rules, and expand fiduciary definitions to include outside managers and contractors.
Michael Riley, legislative agent for the Massachusetts Association of Contributory Retirement Systems (MACRS), testified in favor of multiple bills aimed at clarifying retirement boards’ authority and fiduciary responsibilities.
Riley described House Bill 2756 as an…
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