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NOVEMBER 1998 - Police Association Gains Key Seat - Acting Governor Paul Cellucci has appointed Fall River police officer Jim Machado to a seat on the nine-member Pension Reserves Investment Management (PRIM) Board.

PRIM is responsible for management of the Commonwealth’s $21 billion Pension Reserves Investment Trust (PRIT) Fund.

The seat, which by law goes to a person representing a public safety union, had been held by Dan O’Neil, president of the Mass Correction Officers Federated Union. The seat became vacant when O’Neil was defeated by Tony Ryan, the new president, and O’Neil left the Department of Correction to become a Civil Service Commissioner, a Cellucci appointment.

The PRIM seat had originally been held by the Firefighters Union since the agency was created in 1984. However, because the correction officers union had supported William Weld when he ran for governor, Weld gave the seat to the Correction Union’s president, O”Neil, when Firefighter Secretary Paul Lestage’s term was up in 1991.

The Massachusetts Police Association (MPA), a 17,000-member organization, of which Machado is an executive board member and MPA legislative agent, was one of the first organizations to endorse Cellucci for governor in 1998 when Weld resigned last year.

With O’Neil gone, the MPA called on Cellucci to appoint their choice, Machado. With the November 3 election rapidly approaching, Machado was appointed and sworn in on October 13.

Welcome Addition

According to Ralph White, an elected member of the PRIM Board, politics aside, Jim Machado is a welcome addition to the PRIM Board.

“Several members of the PRIM Board are political appointees from varied backgrounds and most have done a good job,” said White. “Jim Machado knows the State House and how it connects with our pension fund. We have investment experts on our staff, but we also badly need Board members who will look out for our legislative needs.

“I, for one, am looking forward to having Jim with me on Beacon Hill when any legislation involving our pension fund is on the line. In fact, the MPA’s new office adjoins our office at 11 Beacon Street …Jim knows that I’ll be on his tail when it comes to PRIM Board activity.”

“I’ve been studying the structure of the PRIT Fund and how the fund’s assets are invested,” said Machado.” This is a tremendous fiduciary responsibility for the PRIM Board members. There will be a learning process on my part … I’ve already started that process. Also, I’ve listened to Ralph White when he has spoken on PRIT Fund legislation at State House public hearings. I believe that I can add to the PRIT Fund’s presence when legislation is before the House and Senate.

“Although I’ve been working for the MPA and will continue to do so, I realize that my constituency as a PRIM Board member includes the entire spectrum of public sector employees and retirees, especially when it comes to the PRIT Fund’s impact on future COLAs.”

Machado’s term expires in May, 1999, when O’Neil’s term would have ended. At that time, his future depends on who is governor. A Cellucci win on November 3 would almost certainly mean that Machado would be reappointed to a full four-year term.

Machado’s uncle, by the way, is Association member Dave Machado, a retired Fall River firefighter. Dave Machado is also an elected member of the Fall River Retirement Board and longtime public retiree activist in his city.

“Jim enjoys the action on Beacon Hill,” said uncle Dave. “He knows the needs of retirees and the role of the PRIT Fund in setting the agenda for COLAs. Cellucci couldn’t have selected a better person for that appointment.”
 
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