Code of Massachusetts Regulations
610 CMR - BOARD OF HIGHER EDUCATION
Title 610 CMR 11.00 - Optional Retirement Program
Section 11.47 - Employee Account
Current through Register 1531, September 27, 2024
The Board shall transfer monthly the balance of the employer contribution (less Life and Disability Account and Monthly Fee) from the Optional Retirement Program Trust Fund to the Optional Retirement Program Employee Accounts maintained by not less than two and no more than four providers.
(1) A monthly accounting shall be made by the Board of the:
(2) The monthly balance of the State Employees' Retirement System employer contribution shall be transferred by the Board from the Optional Retirement Program Trust Fund to each Board Optional Retirement Program Employee Account based on the percent of individual regular monthly compensation to the monthly balance of the employer contribution.