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Wakefield Retirement System
The Wakefield Retirement System is governed by Massachusetts General Laws, c. 32, with the Public Employee Retirement Administration Commission as its regulatory authority. All employees who meet eligibility requirements, except certified teachers, are members of the system.
The Wakefield Retirement System is administered by a five member board, consisting of two elected members, one member appointed by the Town Council, one member appointed by the other four members, and the Town Accountant who serves as an ex-officio member with full voting privileges. The board meets monthly on a regular basis. Special meetings may be held as necessary. All appropriations must be approved as part of the Town's Budget process by the Town Council, the Finance Committee, and Town Meeting.
The office staff, consisting of two employees, is responsible for all financial transactions, investment activity, member accounts, retirement and pre-retirement counseling, and government reporting for active members, inactive members, retirees, survivors, and beneficiaries.
|Joseph P. Albert, Jr.||Board Member - August 21, 2022|
|Daniel W. Sherman||Board Member, December 2020|
|Richard E. Smith||Board Member|