Somerville Retirement Board Seeking Applications for Vacant Retirement Board Member Position
The Somerville Retirement Board is seeking applicants to fill the 5th Board Member position, which is currently vacant.
The Somerville Retirement Board is responsible for providing retirement allowance benefits for retirees while guiding, protecting, and serving the interests of all members, retirees, and their beneficiaries. The Retirement Board performs all duties and functions in a fiduciary manner using the skill, diligence, and prudence that a prudent expert would exercise solely in the interest of all of the members, retirees and their beneficiaries. The Somerville Retirement System consists of 1,205 active members and 920 retirees.
The Retirement Board reviews and makes investment management decisions, without the utilization of an investment consultant, for a $245m portfolio, while also processing all disability applications. The System is funded by employee/member contributions, the City annual appropriation, which was $14,805,336. for FY 2018, and investment earnings.
The 5th Board Member is required to complete 18 hours of educational training during the three-year term and to file an annual Statement of Financial Interest with the state.
The Board meets one day per month and at other times as needed. The annual stipend is $3,816.00.
The 5th Board Member position shall not be an employee, a retiree or official of the City of Somerville. The term is 3 years.
Interested applicants should submit a statement of interest and resume to [email protected] or to the Somerville Retirement Board, City Hall Annex, 50 Evergreen Ave., Somerville, MA 02145-2819, Attention Executive Director.
The City of Somerville is an affirmative action/equal opportunity employer and does not discriminate on the basis of race, color, sex, religion, age, national origin, disability or any other protected category. Women, minorities, veterans, and persons with disabilities are encouraged to apply. Auxiliary aids and services, written materials in alternative formats, and reasonable modifications in policies and procedures will be provided to qualified individuals with disabilities free of charge, upon request.
Individuals with disabilities who need auxiliary aids and services for effective communication, written materials in alternative formats, or reasonable modifications in policies and procedures, in order to access the programs and activities of the City of Somerville or to attend meetings, should contact the City’s ADA Coordinator, Nency Salamoun, at 617-625-6600 x2323 or [email protected].