Articles about Retirement Boards 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%
Former Head of Teachers’ Retirement Board
MAY 28, 2020: It is with heavy hearts that we report the passing of Joan Schloss DeLena, who died on May 22nd from a lung disorder related to her prolonged fight with cancer. Joan had served as a member of the Mass Retirees Executive Board since September of 2015.
Well Prepared to Weather Storm
APRIL 24, 2020: Learning from the 2008 Financial Collapse and Great Recession that followed, Massachusetts’ 104 public pension systems are financially stable and secure. Not a single system in the Commonwealth is in financial hardship or stands in danger of not being able to meet pension obligations to retirees.
Managers Overseeing $70.7 Billion Fund From Homes
Colin A. Young, State House News Service
BOSTON, APRIL 22, 2020.....The state pension fund is confident that, despite the volatility that has rocked financial markets over the last six weeks or so, it will have no problem paying out roughly $1.3 billion for pension benefits this year.
Final Approval by Governor Expected Soon
APRIL 3, 2020: Late Thursday, the Legislature passed special legislation that waives the legal limit on public retirees working in government jobs here in Massachusetts. Governor Charlie Baker is expected to sign this special act as soon as today, which will waive both the hour and earnings limits for superannuation retirees in 2020.
MARCH 25, 2019: This week, retired and active state employees began to receive ballots to cast a vote to elect your representative to the state's Pension Reserves Investment Management (PRIM) Board. Mass Retirees Executive Vice President Paul Shanley is the current elected member and is seeking reelection as your representative. Our Association has endorsed Paul and fully supports his reelection to this very important position.
Dear Members,
I hope you and your loved ones are safe and enduring this difficult time as best as you can. Here at Mass Retirees, our staff is doing as well as can be expected. We are still working on your behalf, albeit remotely. If you need us, please call or email.
OCTOBER 16, 2019: An election is now underway for state retirees and active employees to elect one of two representatives to the State Retirement Board. Mass Retirees President Frank Valeri is seeking reelection to a 2nd term on the State Board.
In our Association’s last May edition of The Voice we highlighted the Fall River Retirement Board and the City of Fall River itself.
We also named the young Fall River Mayor Jasiel Correira, in a positive sense, highlighting his website message:
Jasiel Correira: “Make it Here” is for the dream chasers, entrepreneurs, business-owned hungry graduates, and all those looking for reinvention in its myriad forms. Because they can make it here in Fall River whether a dream, a destination or the chance at a fresh start at a new day.”
For Reelection to State Retirement Board
State Retirees and active employees should be aware that an election is now underway for one of two seats on the State Board of Retirement. These elected officials are your representatives on the five-member Board.
As members know, Mass Retirees President Frank Valeri currently serves as one of the two elected members on the State Retirement Board. His term will end December 2019.
Since 1968 the Retired State, County and Municipal Employees Association has been the leading voice for Massachusetts public retirees and their families. Join with our 52,000 members as we continue the fight.
