Investments

Articles about Investments that may be useful to Massachusetts retirees.

2010 Strong Investment Earnings

2010 Strong Investment Earnings

But Must Tackle Unfunded Liability

Continuing its climb from the abyss of Year 2008 when it lost 29% of its value, the Commonwealth’s pension fund displayed an encouraging investment return of 13.56% for Year 2010.

This followed earnings of 17.46% for Year 2009 and pushed the January 1st value of the fund, known as the Pension Reserves Investment Trust (PRIT) Fund, to $48.3 billion. While still short of the Fund’s peak value of $53.7 billion at the end of ’07, it was uplifting news for the State and Teachers’ Retirement

Pension Funds At Work

SEPT 2007 - This July, the Commonwealth’s pension investment board, PRIM, funded $50 million to the AFL-CIO Housing Investment Trust (HIT) as part of the Economically Targeted Investment (ETI) program. The HIT is headquartered in Washington DC. The firm has managed assets for US tax-exempt clients since 1984 and currently has 393 institutional investors, many of which are public pension funds.

STATE PENSION FUND SEEKS LOCAL INVESTMENTS

2007 JULY - ETI Policy Includes Real Estate - Ever since the Commonwealth’s pension fund (PRIT) adopted an Economically Targeted Investment (ETI) policy in 2003, the program has steadily grown, especially in the area of real estate.

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.

Big Year for Pension Fund

2007 March - Investments Earned 16.72% in '06 - Boosted by another of its late season rallies in November and December, the Massachusetts pension investment fund earned 16.72% in Year 2006, continuing to maintain its standard as one of the top performing public funds in the country.

Alternative Retirement

NOV 2006 - Unlike Governor Romney and Lt. Governor Healey who believe
there is room for an alternative retirement plan within our state’s current
universal defined benefit (DB) plan, our Association’s position is that all
public employees should be members of the current DB plan which applies to all
106 of our retirement systems.

Timber is Important Investment Class

SEPTEMBER 2006 - In maintaining its policy of diversifying the Commonwealth’s giant pension fund, the Pension Reserves Investment Trust (PRIT) Fund includes a timber allocation within its assets.

New Pension Schedule Adopted

JULY 1999 - Cellucci Proves His Case - Following
a string of strong criticism from legislative leaders, the state
treasurer, and this Association, Governor Paul Cellucci released
information supporting his plan to revamp the state and teachers'
pension funding schedule.

Pension Obligation Bond Update

MAY 1999 - POB Being Studied By Public Service - As we reported earlier (January Voice),
several bills are now before the Legislature that allow municipalities
to pay off their unfunded pension liability by issuing pension
obligation bonds. As they proceed through the legislative process, we
will be working to insure that our concerns, raised in our earlier
reports, are satisfied.

Mass. Pension Fund Earned 15% In '98

MARCH 1999 - Buoyed
by a strong final quarter, PRIT, the state and teachers' pension fund,
earned almost 15 percent on its investments for the year 1998.