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Filename Public-Pension-WP.pdf
Filesize 415 KB
Version 1 Previous versions
Date added February 24, 2017
Downloaded 615 times
Category Pensions, Policy Briefs
The commonwealth should set a five-year deadline for 102 public pension systems to transfer their assets to the Pension Reserves Investment Management (PRIM) Board, the management authority for the Massachusetts State Employee Retirement System (MSERS) and the Massachusetts Teachers Retirement System (MTRS). From 1986 to 2015, the difference in gross returns between non-state public pensions (i.e., excluding the MTRS and MSERS) and PRIM implies a taxpayer loss of more than $2.9 billion. The systems forfeited nearly $1.6 billion from 2000 to 2015 alone by not investing with PRIM, or $97 million a year.