# Shrewsbury Retirement Board

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

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Shrewsbury, United States
- **Region:** North America
- **Address:** Shrewsbury, MA, United States
- **Assets under management:** $167M (Altss estimate)
- **Website:** shrewsburyma.gov

## Regulatory record

- **Reports private funds:** No

## About

The Shrewsbury Retirement Board administers the Shrewsbury Contributory Retirement System, a municipal defined-benefit plan for town employees and housing authority workers established under Massachusetts General Laws. Board Chair Amy Li, the town accountant, serves ex officio alongside a five-member board. The system is regulated by the Public Employee Retirement Administration Commission and provides benefits administration and counseling to active, inactive, and retired members. Investment strategy follows the typical Massachusetts municipal pension playbook — a significant allocation to the state-run Pension Reserves Investment Trust Fund, supplemented by direct manager relationships. The PRIT fund provides diversified exposure across multiple asset classes, including real estate, private equity, and timberland. The system reports an estimated $167 million in assets under management based on public filings and comparative Massachusetts municipal pension data. Operations are lean — an executive director and administrative assistant handle daily administration, with investment decisions and oversight concentrated with the volunteer board. The board participates in the Massachusetts Association of Contributory Retirement Systems, the professional network for local pension administrators navigating state regulations and PRIT integration. The structural differentiator for Shrewsbury is its embeddedness within Massachusetts' unique public pension ecosystem, where 104 local systems pool assets through PRIT rather than competing independently for investment access. This gives Shrewsbury exposure to private-market assets typically out of reach for a standalone $167M plan, while maintaining local control over benefit decisions and supplementary manager selection.

## Sectors

- Real Estate
- Private Equity
- Timberland
- Hedge Funds

## People

- Amy Li — Board Chair and Town Accountant (Ex Officio)
- Gregory Gatsogiannis — Executive Director

## Questions

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

A five-member board oversees investment policy, with Gregory Gatsogiannis as executive director handling day-to-day administration. The board includes the town accountant serving as chair ex officio. Investment decisions are made within the framework of Massachusetts public pension regulations and PERAC oversight.

### Does the Shrewsbury Retirement Board invest directly or only through PRIT?

The system uses a hybrid approach. Core exposure flows through the PRIT fund, but Shrewsbury also maintains direct manager relationships, including disclosed allocations to SSgA's All International Allocation Common Trust Fund and the IR&M Core Bond Fund per its public investment disclosures.

### What asset classes does the Shrewsbury Retirement Board target?

Through PRIT, the system has exposure to real estate, private equity, and timberland. Its directly managed portfolio includes international equity allocations through State Street Global Advisors and core fixed income through Income Research & Management. The overall posture emphasizes institutional core strategies suitable for a municipal defined-benefit plan.

### How many members does the Shrewsbury Contributory Retirement System serve?

The system serves over 946 active, inactive, and retired members and beneficiaries, per its most recent disclosures. Members include employees of the Town of Shrewsbury and the Shrewsbury Housing Authority, both participating employer units under the system.

## Related profiles

- [Tuckpointer Local 52 Pension Plan](https://altss.com/profile/tuckpointer-local-52-pension-plan)
- [The Bledsoe Health Trust](https://altss.com/profile/the-bledsoe-health-trust)

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Last updated: 2026-08-11T02:43:31.692Z

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

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