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| Filename | Public-Pension-WP.pdf |
| Filesize | 415 KB |
| Version | 1 Previous versions |
| Date added | February 24, 2017 |
| Downloaded | 1991 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.