We know there are a lot of questions pertaining to recent news about the MBTARF and, as a result, there is misinformation being shared.
First and foremost, we have not, in any way, entered into the state pension system. Additionally, it does not affect your pension benefits or eligibility in any way. The MBTARF Board has a list of investment advisors and managers to choose from to manage aspects of the fund to ensure the success and long term viability of the fund. This decision allows the MBTARF to add PRIT to the list of current advisors and managers, they will be treated as every other investment advisor and manager.
President O’Brien provided the following statement to reporters when asked about this decision – “We are committed to maintaining the long-term viability and success of the MBTA Retirement Fund for MBTA employees. Last week, the Boston Carmen’s Union approved a decision that will allow the MBTARF Board to vote on a potential investment in PRIT, as they do all investment advisers and managers. Going forward, PRIT will be added to the list of approved investment advisers for consideration by the MBTARF Board.”
We want to answer all of your questions. We will be holding a special informational meeting of the membership on Tuesday, July 23, 2019, at 6:00 PM, at the Boston Teachers Union Hall. The purpose of this informational meeting is to discuss the pension fund only, this is not a ratification meeting.This is a special meeting and the only business to be discussed will be the pension fund.
If you have any questions, please call the Union Hall at (617) 542-8212.