MACRS Insurance Programs

MACRS membership provides the legal vehicle for Retirement Boards to secure fidelity and fiduciary insurance for their respective Retirement Systems at a substantial savings to the Board and their membership.

The Fidelity/Crime coverage is mandated by law for all public and private pension systems in the country. The MACRS fidelity program offers $1,000,000 in coverage.

The Fiduciary program is a special type of insurance that protect the assets of the plan from being used to pay judgments against the plan or its trustees for, primarily, allegations of breaches of fiduciary duty.  It also protects the personal assets of the trustees and employees, a key consideration since public fund statutes provide that trustees who breach their fiduciary duties can be held personally liable. The MACRS fiduciary insurance program provides $50,000,000 of coverage.

In 2019, MACRS raised the annual dues for membership from $400 to $600. This is the first increase in membership dues in over 10 years. Currently, Retirement Boards receive the fidelity coverage for $85. A savings between $1,000 and $5,000, depending on the size of the Retirement System. While the fiduciary program saves Retirement Systems anywhere from double or triple their current premium and provides much higher limits in comparison to a standalone policy.