Boston Retirement System

Boston Retirement System

The Boston Retirement System was established in 1923 to administer retirement benefits for municipal workers. Thomas V.J. Jackson serves as chairperson alongside ex officio member Scott Finn, the City Auditor. The plan covers employees of the City of Boston and entities such as the Boston Planning & Development Agency. Allocations include commitments to real estate vehicles such as Tristan Capital Partners Income Plus Strategy II and TA Realty Associates Fund IX. Additional holdings encompass Urdang Value Added Fund II, RMK timber funds, and the PRIT Core Fund. The portfolio also features limited partner positions in private equity funds including Thoma Bravo Fund XV, Summit Partners Growth Equity Fund XII, and CVC Capital Partners IX. Geographic exposure centers on the United States with select European real estate credit exposure. The system reported $7.44 billion in assets. It retains NEPC as investment advisor and State Street Bank & Trust as custodian. In March 2025 the board reviewed investment pacing plans, private market commitments, and real estate searches during its monthly meeting. Oversight falls under the Massachusetts Public Employee Retirement Administration Commission. The plan operates as a single public pension vehicle with no separate family or foundation structures. Governance ties directly to the City of Boston as sponsoring employer.