Section 2.01 - General Provisions(1) 840 CMR 2.00 is the standard rule for travel and travel-related expenditures by retirement board members and retirement board staff members. PERAC recognizes that retirement board members and the retirement board staff must perform their fiduciary duties in an efficient, effective and informed manner. All travel-related expenses that are to be paid for by the board shall be related to the purpose of the authorized travel and shall be cost-effective.(2) PERAC recognizes the importance of continuing education; the need for informed decision making by retirement board members; and the need for a broader public pension perspective, gained through association with other retirement boards and administrators, both within the Commonwealth of Massachusetts and throughout the nation, whether virtually or in-person.(3) Except as otherwise provided by the PERAC or by supplementary rules of a particular retirement board approved by the PERAC pursuant to 840 CMR 14.02: Supplementary Rules all travel by retirement board members and board staff shall comply with 840 CMR 2.00.(4) Retirement boards may adopt supplementary regulations to supplement and expand upon 840 CMR 2.00. Any such board regulations are to be submitted to PERAC for review and approval as required by the provisions of M.G.L. c. 7, § 50 and M.G.L. c. 32, § 21(4).Amended by Mass Register Issue 1518, eff. 3/29/2024.