Articles about Investments that may be useful to Massachusetts retirees.
MARCH 2012 VOICE: Year 2011 was not a good year for the $47.1 billion Commonwealth’s Pension Reserves Investment Trust (PRIT) Fund.
After strongly recovering from disastrous Year 2008, when the Fund lost -29.50% of its value, followed by earnings of 17.06% in Year 2009 and 13.56% in Year 2010, the Fund was a victim of the worldwide market slump last year. PRIT barely squeaked into the black with a return of 0.15%
State House News Service
June 9, 2015
During a packed hearing late Tuesday morning, supporters of bills that would divest public pensions from fossil fuel energy industry over concerns that relying on profits from those companies helps contribute to climate change.
Mass Retirees Supports Formal Study, Urges Caution
JUNE 10, 2015: On Tuesday, the complex issue of public pension fund divestment of fossil fuel investments took center stage at the Massachusetts State House.
LEOMINSTER -- A statewide association representing retired municipal employees is criticizing the city's Retirement Board for voting in July not to give retirees a cost-of-living pay increase in their pensions for the fifth straight year.
Mayor Mazzarella Controlled Board Manipulates Funding Schedule and Treats Retirees as Second Rate
SEPTEMBER 2014 VOICE: By any fair measure, five years is a considerable amount of time. It’s half a decade, longer than a presidential or gubernatorial term in office and exceeds the time spent in high school or college. For Leominster’s retirees and survivors five years may only be the beginning of their wait for a modest and much needed cost-of-living adjustment (COLA).
U.S. state and local-government pension investments gained the most in three years as stocks soared, according to a report to be released today by Wilshire Associates Inc.
Insurance Moratorium Pending
JUNE 6, 2014: Following the passage of the Fiscal Year 2015 budget in both the House and Senate, legislative conferees are now negotiating a final unified state budget that will likely receive final approval in late June or early July.
Finally Recovered From FY08 Losses
MARCH 2014 VOICE: Year 2013 was cause for a modest celebration at the Commonwealth’s giant Pension Reserves Investment Management (PRIM) Board, chaired by State Treasurer Steve Grossman.
A strong market year saw PRIM’s Pension Reserves Investment Trust (PRIT) Fund earn 15.2%, and finally climb back and exceed its pre-Year 2008 value with a new high of $57.9 billion at year’s end.
Managers add $7.9 billion to accounts, with biggest increases coming from US stocks
By Beth Healy
January 22, 2014
The Massachusetts state pension fund posted a 15.2 percent investment gain for 2013, as strong markets helped the fund’s managers add $7.9 billion to the retirement accounts of public employees.
US stocks provided the biggest boost to the fund, climbing 33.7 percent during the year, followed by investments in private equity, which rose 21.1 percent.
Includes 3% COLA & Funding Schedule Changes
JANUARY 22, 2014: Within the final budget proposal of his eight-year tenure as governor, Deval Patrick chose to include two provisions of critical long term importance to public retirees and surviving spouses.
As he has consistently done in the past, the governor has recommended a full 3% cost-of-living adjustment (COLA) for state and teacher retirees who retired before July 1, 2013. Like 2013, the new COLA will be paid on a base of $13,000.