Legislative Matters

Call-to-Action! Please complete and sign the attached letter in support of S. 1551 and H. 2216 An Act to Increase Membership on the Prim Board. 

MACRS seeks your support on its pending legislation to increase membership on the PRIM Board to include local and county/regional retirement systems. Currently there are nine (9) members of the PRIM Board that are charged to act as trustees for each retirement system that invest in the PRIT fund. The trustees are responsible for the control and management of the PRIT fund, which is not regulated by PERAC. However, only the State Employees’ Retirement Board and the State Teachers Retirement Board hold seats on the PRIM Board. In fact, they each hold two (2) seats comprising of 4 members out of the nine (9) member board. This act will expand the representation for regional or county and municipal retirement systems that are not under the purview of the State or State Teachers’ retirement systems.