CLINTON TOPPED STATE IN '06

2007 JULY - Pension Fund Investments Earned 18.09% - According to data recently released by the Public
Employee Retirement Administration Commission (PERAC), the Clinton Retirement
Board had the highest pension fund investment return among our state's 106
retirement systems in year 2006.

<*><*>Clinton, a $27 million fund, earned 18.09% on its
investments in '06, while PRIT, the mammoth Commonwealth's $50 billion Pension
Reserves Investment Trust (PRIT) Fund, was second with a 16.72% return on
investments. The State, Teachers and 30 local systems have all of their money
in the PRIT Fund.
<*>In a large part, Clinton's investment in
international equities, over 35% of the fund, which was twice that of most
other funds, pushed Clinton to the top in '06. International equities earned 28%
last year. Clinton's real estate fund, 8% of the fund, had a banner year with a
37% return. Clinton's large cap value and small cap equities also did well last
year.
<*>Clinton's investment consultant is the Trust Advisory
Group Ltd of Natick. Stan Starr is the firm's lead consultant on behalf of
Clinton. All of Clinton's funds are managed by State Street Global Advisors.
This includes real estate, which is totally invested in REITs (Real Estate
Investment Trusts). Clinton's Board members praised Stan Starr for his
diligence in guiding the Board's asset allocation.
<*>Members of the Clinton Retirement Board are Town
Accountant Diane Magliozzi, the ex officio member; retired firefighters Mike
DiGisi and John McNamara, the two elected members; police officer Bob Champagne,
the selectmen's appointee; and private sector member, Paul Cherubini, appointed
by the first four members. McNamara is the Board's senior member, while
Cherubini serves as chairman.  Mary
Harding is the Board's administrator.
<*>While all cities in Massachusetts have their own
retirement systems, only 45 towns retain their own systems, one of the smallest
being Clinton. The vast majority of towns, 222 in total, are members of
county/regional retirement systems, which averaged about 15% on their investment
earnings last year.
<*>Several cities and towns, including Leominster
(16.63%), Wellesley (16.23%), Weymouth (15.83%), Watertown (15.59%), Belmont
(15.17%), Boston (15.07%) and Worcester (15%), 
earned above 15% last year while managing their own investments
independent of the PRIT Fund.

Tags: