Leaving Money on the Table: The 106 Pension Funds of Massachusetts
Author: Ken Ardon
The focus of this paper is the choice that local retirement boards have of managing their own investors or investing all or a portion of their assets in PRIT. Most local boards choose to retain control of their investments. In 2004, 55 out of the 104 local systems invested entirely on their own, 29 had some assets invested in PRIT or the PRIT seg- mentation program, and only 20 invested entirely with PRIT.