Massachusetts Port Authority Employees' Retirement System

Massachusetts Port Authority Employees' Retirement System

The Massachusetts Port Authority Employees' Retirement System was established in 1978. It provides benefits to employees of the Massachusetts Port Authority. The system operates separately from the authority's operating assets yet remains tied to it through governance and funding. MPAERS allocates 11.34 percent of assets to private equity against a 10 percent target. It invests through the Pension Reserves Investment Trust managed by the PRIM Board. Confirmed holdings include positions in PRIT Real Estate Fund valued at $67 million, PRIT Private Equity Fund valued at $143 million, and pooled opportunistic credit at $46 million. The geographic focus centers on the United States with additional exposure through commingled vehicles managed by Baillie Gifford, Wellington, and RhumbLine Advisers. The system maintains a five-member board and uses Wilshire Associates as investment advisor and BNY Mellon as custodian. It participates in the Massport Community Charitable Foundation, which directs approximately $600,000 annually to education and community programs in East Boston, South Boston, and Worcester. No material board or mandate changes occurred in the last 24 months. MPAERS invests alongside other Massachusetts public plans through the PRIT structure rather than maintaining standalone direct deal or co-investment programs.