SECTION 1. (a) Notwithstanding any general or special law to the contrary, the board of the Hampden county regional retirement system, hereinafter referred to in this act as “the board”, shall consist of 6 elected members and 1 appointed member. Except as provided by section 2, each member shall serve a term of 3 years. The board shall be subject to the provisions of section 20 of chapter 32 of the General Laws.

(b) Six members of the board shall be elected as follows:

(i) Three members shall be elected at large by a majority of the members of the Hampden county regional retirement system.  Both active and retired members shall be eligible to vote for these board members.  Each of these 3 members' terms shall expire in a different year;

(ii) One member shall be elected to represent the community member agencies.  This representative shall be an elected or appointed town official. For example, a member of the select board or a town council member, the town administrator or the town manager. Such member of the board need not be a member of the Hampden county regional retirement system;

(iii) One member shall be elected to represent the housing authorities and fire and water districts agencies.   This representative shall be an elected, appointed, or full time employee official of the agency. For example, the chair, treasurer, superintendent, director or executive director of the agency. Such member of the board need not be a member of the Hampden county regional retirement system; and

(iv) One member shall be elected to represent all other Hampden county regional retirement member agencies including regional school districts, veteran's service districts, emergency dispatch services, and regional retirement boards.  This representative shall be an elected or appointed official. For example, the school superintendent, school committee member or executive director. Such member of the board need not be a member of the Hampden county regional retirement system.

The public employee retirement administration commission shall have the right to adjudicate any disputed eligibility of board members nominated or elected under the provisions of this subsection. 

(c) One member of the board shall be appointed by the treasurers of the system member agencies.  This member shall serve for a 3 year term.

(d) The terms of the 7 board members shall be staggered so that 2 members are elected in 2 consecutive years and 3 members are elected in the third year.

(e)  Every 2 years, the board by majority vote shall elect 1 of its members to serve as chair of the board.

(f)  Board members shall be 7 distinct individuals and no more than 2 members of the board shall be affiliated with the same member agency of the Hampden county regional retirement system.

SECTION 2. The board shall create, or direct to be created, by-laws of the organization. The by-laws shall include, but not be limited to: the organizational structure, voting and election procedures, including a procedure for the filling of board vacancies, the role of the treasurers' advisory board, investment policies, frequency and responsibility for agency financial reporting and audits, committee and subcommittee structure as well as other policies and procedures of the organization. 

The by-laws of the Hampden county regional retirement board shall take effect when ratified by 2/3 of the member agencies: each member agency having one vote.  Subsequent revisions to the by-laws shall also require a 2/3 vote of the member agencies.  All such votes require a publicly recorded vote of the agency governing body. 

SECTION 3. (a) Elections of board members as described in section 1 shall be completed within 120 days following the passage of this act, and shall be directed, organized and administered by the board of the public employee retirement administration commission.

(b) The term of office for all persons serving as members of the board of the Hampden county regional retirement system at the time of passage of this act shall end on the earlier date of 120 days following the passage of this act or upon the election of the board as proscribed in section 1.

(c) For the 6 members initially elected to the board as described in section 1, 2 members shall serve for 1 year, 2 members for 2 years and 2 members for 3 years.  The board member appointed by the treasurers of the system shall serve a 3 year term.  All board terms shall expire at the end of the state fiscal year so the first terms of all elected officials may be less than a full 1, 2 or 3 years.

(d) The initial draft of by-laws for the Hampden county regional retirement board shall be presented to the member agencies for ratification within 180 days of the formation of the 7 member board of directors.  Agency operations may be conducted under these by-laws on an interim basis following their presentation to member agencies.  Ratified by-laws shall be in place within 270 days of the formation of the 7 member board of directors. 

SECTION 4.  This act shall take effect upon its passage.