Everett Retirement Board

Everett Retirement Board

The Everett Retirement Board operates as one of 106 contributory retirement systems in Massachusetts under M.G.L. Chapter 32. It provides benefits to public employees and retirees of the City of Everett and Everett Housing Authority, with membership required for permanent staff working over 20 hours per week. The system is governed by a five-member board that includes appointed, elected, and ex officio positions. Assets are deployed across private equity at 17.1 percent, PRIT Core Real Estate valued near $28 million, PRIT Private Equity near $52 million, PRIT Timberland near $9 million, and Portfolio Completion Strategies near $30 million. Holdings include commitments to Long Wharf Real Estate Partners, Constitution Capital Partners, Monroe Capital, Oaktree Capital Management, and Entrust Global. Geographic exposure centers on Massachusetts and broader United States markets, with additional international equity through SSGA mandates. The board maintains 25 service relationships and network connections, including custodians M&T Bank and Wilmington Trust since 2024, investment advisors Mariner Institutional and NEPC, and legal counsel from the Law Office of Michael Sacco. February 2024 board meetings addressed investment performance and member approvals. The system participates in the Massachusetts Association of Contributory Retirement Systems and Public Employee Retirement Administration Commission. Governance ties directly to the City of Everett as parent municipal entity, with the Everett Housing Authority as a participating employer. This structure channels host-community funding from Encore Boston Harbor into the separate Everett Citizens Foundation established in 2019.