The Mass Retirees Association is pleased to endorse Randolph Teacher Modeline Telfort for the PRIM Board.
Over the past few days, we have been contacted by a great number of members who are deeply concerned and offended by one of the candidate statements on the ballot for the election of a Teachers’ representative to the Commonwealth’s Pension Reserves Investment Management (PRIM) Board.
The source of concern is the candidate statement submitted by Matthew Sheffler, one of the two candidates seeking the open PRIM Board seat. In what we can only describe as a strange, irrational and politically charged statement, Mr. Sheffler appears to cast doubt on the stability of the pension fund which contains the pension assets of not just Teachers, but also State Retirees and employees, as well as most municipal retirement systems.
Not only do we believe Mr. Sheffler’s assertions to be factually untrue, but they are reckless. Retirement security is essential to the peace-of-mind of our members. For a candidate to cast wild unfounded assertions, not rooted in fact, is not only careless but should also be disqualifying. Politics has no place in the safeguarding of your pension.
There are two candidates seeking to represent you, Matthew Sheffler and Modeline Telfort. While we had not planned to endorse a candidate in this election, Mr. Sheffler’s unhinged actions have caused us to reconsider.
After a lengthy interview with Modeline Telfort, who is a French language teacher in the Randolph School System, we are pleased to endorse her candidacy to represent her fellow teachers.
After immigrating from Haiti, Modeline graduated from U-Mass Amherst with a degree in Economics. Prior to becoming an educator, she worked for several investment and custodial banks – including State Street and Mellon, two of the largest banking institutions in the US serving public pension systems. This background will provide her with a solid basis to be a productive member of the PRIM Board from day one.
Equally important is the fact that Modeline Telfort is running for this position simply to represent her fellow teachers. We are aware of no political or personal agenda beyond a desire to serve. Given her background and prior professional experience, we believe Modeline Telfort will be a valuable addition to the PRIM Board.
We respectfully ask that when you cast your PRIM Board vote, please grant Modeline Telfort every consideration.
The continued success of the PRIM Board is extremely important to all retired public employees. Not only did Mass Retirees play a key role in the founding of PRIM in 1984, but an Association officer has held an elected State Retirement System seat on the 9-member board ever since. As we reported in the lead article in the April edition of The Voice, the PRIT fund is extraordinarily well-run and has produced excellent investment returns over the past decade. Since the pension fund’s inception in 1988, the fund has consistently beat its benchmark and is well on track to be fully funded ahead of the statutory deadline.
Please make sure to cast your vote prior to the May 22nd deadline. When you do, please consider supporting Modeline Telfort. To vote online, follow the instructions included on your ballot and cast your vote at www.primvotes.com.
Most Sincerely,
Frank Valeri
President
Mass Retirees Association
Shawn Duhamel
Chief Executive Officer
Mass Retirees Association
PS: There are two concurrent, but separate, elections now taking place for seats on the PRIM Board. One is a MA Teachers’ Retirement System seat and the other a State Retirement System seat. Our endorsed candidate for the State Retirement System seat is Association Treasurer Joe Connarton.