SENATE DOCKET, NO. 636        FILED ON: 1/13/2009

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1170

The Commonwealth of Massachusetts

_______________

In the Year Two Thousand Nine

_______________

An Act to audit the state’s deferred compensation program..

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Notwithstanding any General Law or special law to the contrary, the department of the state auditor is authorized and directed to conduct an audit of the Massachusetts deferred compensation program as defined under section 64 of chapter 29 of the General Laws, as appearing in the 1998 Official Edition.  This audit shall include a review of the procurement process used to select contracting vendor to administer the plan.  Such review should ensure the process complies with current statutory requirements.  In addition, the review should encompass a review of all bid proposals and the criteria used in a final selection process.  A request of the reconciliation of total funds by individual fund must be included as part of the audit.  A report from the department of the state auditor shall be made to the house clerk, the senate clerk, the Senate Committee on Ways and Means, the House Committee on Ways and Means and the Joint Committee on Public Service.

SECTION 2. Said audit must be completed within one year of passage of this act.