# Massachusetts Housing Finance Agency Retirement System

Massachusetts Housing Finance Agency Retirement System is a Pension Fund based in Boston, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Boston, United States
- **Region:** North America
- **Address:** Boston, MA, United States
- **Founded:** 1974
- **Assets under management:** Undisclosed
- **Website:** masshousing.com
- **LinkedIn:** https://linkedin.com/company/massachusetts-development-finance-agency

## Regulatory record

- **Reports private funds:** No

## About

The Massachusetts Housing Finance Agency Retirement System is a mandatory defined benefit plan for MHFA employees. It covers nearly all full-time and part-time employees. The plan focuses on the biotech and life science sectors.

## Sectors

- Real Estate
- Infrastructure
- Private Equity

## People

- Michael Fitzmaurice — Chairman of the Retirement Board
- Joseph M. Petty — Executive Secretary

## Questions

### Who sponsors the Massachusetts Housing Finance Agency Retirement System?

The plan is sponsored by MassHousing, the quasi-public state agency that issues bonds to finance affordable rental and homeownership housing across Massachusetts. The retirement system was created in 1974 to serve MassHousing employees. Because the sponsor is an agency rather than a municipality, the plan's governance and participant base are narrower than a typical city or town retirement board.

### Does the plan invest directly in affordable housing?

The system's sponsor, MassHousing, is an affordable-housing bond issuer, but the retirement trust is a separate fiduciary entity. The plan's real estate allocation targets institutional property returns through commingled funds and separate accounts; whether any of those vehicles explicitly include affordable-housing investments is not disclosed in standard PERAC filings. The connection to MassHousing does, however, give the board unusual in-house real estate credit expertise.

### How is the plan regulated?

The Massachusetts Public Employee Retirement Administration Commission — PERAC — provides regulatory oversight, investment reporting standards, and actuarial compliance for the system, as it does for all public pension plans in the Commonwealth. PERAC oversight requires quarterly investment reporting and annual actuarial valuations, making plan-level data accessible through public records requests.

## Related profiles

- [Massachusetts Bricklayers & Masons Pension Plan](https://altss.com/profile/massachusetts-bricklayers-masons-pension-plan)
- [Massachusetts Institute of Technology (Defined Benefit)](https://altss.com/profile/massachusetts-institute-of-technology-defined-benefit-mit)

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

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