Code of Massachusetts Regulations
840 CMR - PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION COMMISSION
Title 840 CMR 17.00 - Standards Of Conduct For Fiduciaries And Qualified Investment Managers
Section 17.01 - Bonding of Persons Having Access to Retirement Board Funds
Universal Citation: 840 MA Code of Regs 840.17
Current through Register 1531, September 27, 2024
All board members and retirement system staff shall be bonded in an amount sufficient to provide reasonable protection against losses due to fraud and dishonesty and each shall be bonded for no less than 10% of the amount of the fund or $500,000. The Commission may prescribe a bond in excess of $500,000, provided that such bond shall not exceed 10% of the amount of the fund.
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