# Chelsea Retirement Board

Chelsea Retirement Board is a Pension Fund based in Chelsea, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Chelsea, United States
- **Region:** North America
- **Address:** 90 Everett Avenue Suite 5, Chelsea, MA, United States
- **Assets under management:** 315 (Altss estimate)
- **Website:** chelseama.gov

## Regulatory record

- **Reports private funds:** No

## About

The Chelsea Retirement Board was established to manage retirement benefits for municipal workers in Chelsea, Massachusetts. It operates under Massachusetts public pension statutes with oversight from the Public Employee Retirement Administration Commission. The board allocates 17.1 percent to private equity and maintains exposure to global equities, core fixed income, value-added fixed income, real estate, and timberland. All investments occur via the PRIT Fund, which provides the system with diversified holdings including a $122.8 million global equity sleeve managed by RhumbLine Advisers. Geographic reach is global through the PRIT vehicle. The board lists five members and one assistant executive director. It belongs to the Massachusetts Association of Contributory Retirement Systems. Service providers include the PRIM Board for investment management since 2022 and M&T Bank for custody since 2023. The board follows state-level ESG guidelines through PRIM proxy voting. No independent direct-deal program exists; all commitments route through the PRIT structure.

## Sectors

- Public Pension

## People

- Joseph M. Siewko — Chairperson
- Michael Nicolazzo — Executive Director
- Carolyn M. Russo — Fifth Member

## Questions

### Who runs investment decisions at Chelsea Retirement Board?

The board delegates all investment management to the Pension Reserves Investment Management Board through the PRIT Fund. Joseph M. Siewko serves as Chairperson and Michael Nicolazzo as Executive Director.

### Does Chelsea Retirement Board participate in fund commitments or only direct deals?

The board makes no direct deals. All exposure occurs through the PRIT Fund, which holds private equity, real estate, and other alternatives on its behalf.

### What asset classes does Chelsea Retirement Board hold?

Holdings include global equities, private equity at 17.1 percent, core and value-added fixed income, real estate, and timberland, all accessed via the PRIT Fund.

### Where does Chelsea Retirement Board custody its assets?

M&T Bank / Wilmington Trust serves as custodian under a contract that began in 2023.

### How is Chelsea Retirement Board related to the City of Chelsea?

The City of Chelsea is the sponsoring municipality. The board also serves employees of the Chelsea Housing Authority.

## Related profiles

- [Sacred Heart University](https://altss.com/profile/sacred-heart-university)
- [May Barnhard Investments](https://altss.com/profile/may-barnhard-investments)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/chelsea-retirement-board

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology