# Hull Retirement Board

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

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Hull, United States
- **Region:** North America
- **Address:** Hull, MA, United States
- **Assets under management:** $72M (Altss estimate)
- **Website:** town.hull.ma.us/retirement

## Regulatory record

- **Reports private funds:** No

## About

The Hull Retirement Board administers the defined-benefit pension plan for employees of the Town of Hull, the Hull Housing Authority, and eligible school staff. As of 2017, the system served 182 active members and 148 retirees, overseen by a five-member board composed of the elected Town Accountant, two employee-elected representatives, and two members appointed by the Select Board. The board operates under Chapter 32 of Massachusetts General Laws, with regulatory oversight from the Public Employee Retirement Administration Commission (PERAC). The fund's investment posture reflects the Massachusetts public pension model: a core allocation to the state-managed Pension Reserves Investment Trust (PRIT), supplemented by locally directed assets. PRIT provides pooled access to global equities, fixed income, real estate, private equity, and timberland. The Hull board's direct holdings include cash equivalents and a timberland allocation accessed through PRIT. The board sets asset allocation targets within PERAC's prudent-person guidelines but delegates day-to-day investment management to PRIT's staff and external managers. Total plan assets were estimated at $72M as of the most recent available actuarial filing. The board participates in the Massachusetts Association of Contributory Retirement Systems, the primary professional network for the state's public pension administrators. Darrell Bright serves as Retirement Administrator, handling member services, benefit calculations, and PERAC compliance. The board's five trustees collectively approve the actuarial valuation, set the annual contribution rate for the town, and review investment performance against the assumed rate of return. The Hull board exemplifies the structural tension inside Massachusetts-style local pension governance: a small suburban fund with direct fiduciary authority but insufficient scale to negotiate separately with managers, making PRIT participation both a cost-saver and a constraint on differentiated investment strategy.

## Sectors

- Real Estate
- Infrastructure
- Private Equity

## People

- J. Michael Buckley — Town Accountant and Retirement Board Chairman
- Gregory Galvin — Appointed Member (term through 2029)
- Bartley Kelly — Elected Member
- Christopher DiIorio — Elected Member
- Eileen White — Appointed Member
- Darrell Bright — Retirement Administrator

## Questions

### Who runs investment decisions at the Hull Retirement Board?

The five-member board approves the asset allocation and hires external managers, but day-to-day investment management is largely delegated to the state-run Pension Reserves Investment Trust. J. Michael Buckley serves as chairman and ex-officio member; the board includes two members elected by the retirement system participants and two appointed by the Hull Select Board. Darrell Bright handles benefit administration and day-to-day compliance.

### How does the Hull Retirement Board source deal flow?

The board does not source deals directly. Its investment exposure comes through the Pension Reserves Investment Trust, the pooled investment vehicle managed by the Massachusetts Pension Reserves Investment Management Board. PRIT selects its own external managers and direct investment partners, giving Hull indirect access to institutional-quality private markets, real assets, and timberland.

### Does the Hull board participate in fund commitments or only PRIT?

The board maintains a portion of its assets in cash equivalents and participates in PRIT for the majority of its investable portfolio. Available public records do not indicate direct fund commitments outside the PRIT structure. Many Massachusetts local retirement systems rely near-exclusively on PRIT for private market and real asset exposure.

### How is the Hull Retirement Board governed?

The board is composed of five trustees: the elected town accountant, two members elected by the retirement system participants, and two members appointed by the Hull Select Board. It operates under Massachusetts PERAC oversight and must file actuarial valuations and annual statements on a statutory schedule. The system's funding ratio and assumed rate of return are set by the board within PERAC-approved parameters.

### Where is the Hull Retirement Board's office located?

The board's administrative office is located at the Hull Town Hall, 253 Atlantic Avenue, Hull, Massachusetts 02045. All retirement services, including pension estimates and beneficiary changes, are handled through that office under the administration of Darrell Bright.

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

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

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