Investments

Articles about Investments that may be useful to Massachusetts retirees.

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.

Pension Obligation Bonds: Wave Of The Future?

MARCH 1999 - Battle Looms Over Who Benefits From A Pension Surplus - Ever
since the City of Worcester sold $220 million in pension obligation
bonds, POBs have become the hottest buzzwords in public retirement
circles. But even with all the fanfare, it remains to be seen if POBs
are the wave of the future.

WORCESTER

JANUARY 1999 - “We
expect the City of Worcester retirement system to be fully funded by
the beginning of next year (1999),” announced Ray McGrath, an elected
member of that municipality’s retirement board, at the Association’s
Central Mass. meeting in Shrewsbury. These were extremely encouraging
words to the Worcester retirees in attendance.

Cellucci Makes Pension Board Appointment

NOVEMBER 1998 - Police Association Gains Key Seat - Acting
Governor Paul Cellucci has appointed Fall River police officer Jim
Machado to a seat on the nine-member Pension Reserves Investment
Management (PRIM) Board.

Pension Manager Charged

NOVEMBER 1998 - Mismanaged Funds Says SEC - According
to the Securities and Exchanges Commission (SEC), a Boston pension fund
manager, Bing Sung, has cost his clients $155 million by making
unallowed trades.