One of Cahill's major responsibilities will be chairing the Commonwealth's Pension Reserves Investment Management (PRIM) Board, which manages the state's $27 billion pension fund.

The PRIM Board not only manages state and teachers' pension funds, but also a large number of cities, towns and counties who have opted to allow PRIM to invest their funds.

Cahill is also responsible for the operation of the state's retirement system and an outstanding staff, which manages the system. As Treasurer, he is chairman of the five-member State Retirement Board.

"I'm looking forward to working with Tim on the Retirement Board and PRIM," said Ralph White, a member of both Boards. "He is very knowledgeable when it comes to public retirement matters. The State Board is larger than the Norfolk County Board, but the issues are the same."

In a press statement, Cahill said that he expects to make changes in the state Lottery, which cities and towns count on for millions in revenue every year. The Lottery is currently ranked as one of the best in the country.

He said he would explore whether the Legislature would allow the Lottery to use advertising to boost sales and expand the hours that electronic Keno games can operate.

"I know that Tim wants to send more money to the cities and towns which will be cash-strapped during the next few years," said White. "With state aid level-funded at best, any increase in the Lottery distribution would be welcomed."