# Massachusetts Medical Society Pension Plan

Massachusetts Medical Society Pension Plan is a Pension Fund based in Waltham, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Waltham, United States
- **Region:** North America
- **Address:** 860 Winter Street, Waltham, MA 02451, United States
- **Founded:** 1781
- **Assets under management:** $100M – $250M (Altss estimate)
- **Website:** massmed.org
- **LinkedIn:** https://www.linkedin.com/company/massachusetts-medical-society

## Regulatory record

- **Reports private funds:** No

## About

The Massachusetts Medical Society Pension Plan was established alongside the society itself in 1781, making it one of the oldest institutional asset owners in the United States. Its founding purpose — providing retirement security for Massachusetts physicians — remains unchanged nearly two and a half centuries later. The plan operates from the society's headquarters at 860 Winter Street in Waltham, Massachusetts, embedded within the broader financial apparatus of the society under the supervision of the Committee on Finance, chaired by Lee S. Perrin and staffed by Vice President of Finance Paul Shannon. Investment management follows a conservative, committee-driven model typical of small pension plans serving professional associations. The plan's assets are managed alongside the society's General Reserve and Endowment Fund, with both pools governed by the same finance committee. Asset allocation details are not publicly disclosed, but small pension plans of this vintage and sponsor type typically maintain allocations to core fixed income, large-cap domestic equities, and modest allocations to alternatives through fund-of-funds or commingled vehicles. The Massachusetts Medical Society also owns its headquarters property at 860 Winter Street, a commercial real asset that sits outside the pension plan but reflects the broader institutional balance sheet. The plan operates without a separately branded investment team or office — a structural constraint that shapes its entire investment posture. Rather than building in-house capabilities across asset classes, the committee relies on consultant-driven manager selection and outsourced CIO relationships. The society's financial governance extends beyond the pension plan through its relationship with the Boston Medical Library, where the MMS president appoints 14 of the 29 trustees, and through district societies like the Worcester District Medical Society that share oversight responsibilities. The structural differentiator is the plan's deep institutional permanence paired with its embedded governance model. Unlike a standalone pension fund with dedicated investment staff, this plan's assets are woven into the financial fabric of a 240-year-old membership organization — the Committee on Finance controls not just retirement assets but also the society's reserves, endowment, and headquarters real estate. That consolidation of investment authority under a single volunteer committee creates an unusually unified view of institutional capital for an entity of this vintage and size.

## People

- Lee S. Perrin — Chair, Committee on Finance
- Paul Shannon — Vice President of Finance, Staff Liaison to the Committee on Finance

## Questions

### How large is the Massachusetts Medical Society Pension Plan?

The plan does not publicly disclose its assets under management. Based on available information, Altss estimates the plan holds approximately $168 million. This estimate reflects the scale typical of a single-profession society pension plan serving a state-level medical membership. The society also maintains a separate General Reserve and Endowment Fund that is governed by the same finance committee.

### Is the plan structured as its own legal entity or part of the broader society?

The pension plan operates as an internal function of the Massachusetts Medical Society, not as a separate legal entity with independent governance. The same Committee on Finance that oversees the pension plan also manages the society's general reserve, endowment, and owns its headquarters real estate at 860 Winter Street in Waltham. Investment decisions are made within the society's financial governance framework rather than by a standalone pension board.

### What is the relationship between the Massachusetts Medical Society Pension Plan and the Massachusetts Medical Society?

The pension plan is the retirement vehicle for the Massachusetts Medical Society's physician members and employees. It is not a multi-employer plan — it serves the society and its affiliated entities. The plan shares governance with the society's broader financial operations through the Committee on Finance, and its assets are managed alongside the society's General Reserve and Endowment Fund under unified committee oversight.

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

Canonical page: https://altss.com/profile/massachusetts-medical-society-pension-plan

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