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How to Invest with PRIM?
A "Participating System" transfers title and control of all assets to PRIM. Following an affirmative vote to join the PRIT Fund, the local retirement board must notify the Chief Executive Officer and Legislative Body having jurisdiction over the retirement system of its decision on or before May 1 of each calendar year. The decision is deemed to be approved unless both the Chief Executive Officer and the Legislative Body act to disapprove the decision by July 1. A system's decision to participate under this provision may not be revoked for five years. Participating systems are also eligible to receive any money appropriated by the state for the purpose of reducing unfunded pension liabilities (M.G.L., c.32 § 22B).