Please be advised that, if you take a refund of your retirement contributions, you will terminate your membership in The Berkshire County Retirement System. If you later return to public service on or after April 2, 2012 after receiving a refund, YOU WILL BE CONSIDERED A NEW EMPLOYEE and be subject to the pension reform changes included within Chapter 176 of the Acts of 2011.
Ensuring the integrity of long term pension funding for the 105 contributory retirement systems for public employees in Massachusetts is a major policy priority for PERAC. The Actuarial Unit is the focal point for these efforts. Under law, the unit determines the annual appropriation for each of the 105 retirement systems.
As part of the appropriation process, the unit performs an actuarial valuation of each of the 105 retirement systems every few years. The valuation is a “snapshot” picture of how well the plan is funded at that time. The Berkshire County Retirement Board currently has a funded ratio of 83.5%.
Paul A. Lisi, Jr. was elected to the Retirement Board as the Berkshire County Advisory Board representative. His 3 year term is January 1, 2016 through December 31, 2018. Paul is the Richmond Town Treasurer as well as the Town Accountant in Egremont, Monterey, Mount Washington and Windsor.