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Stoneham Contributory Retirement System
The Stoneham Contributory Retirement System provides pension benefits to municipal employees of Stoneham, Massachusetts. The system operates as a public...
Stoneham Contributory Retirement System
The Stoneham Contributory Retirement System provides pension benefits to municipal employees of Stoneham, Massachusetts. The system operates as a public defined-benefit plan under the regulatory purview of the Public Employee Retirement Administration Commission (PERAC). The retirement board is chaired by Janice Houghton, with Christopher Delisi serving as Executive Director. Participating employers include the Town of Stoneham and the Stoneham Housing Authority. The fund's investment strategy spans traditional and alternative assets. Public equities and fixed income form the core of the portfolio, while additional allocations target real estate and dedicated timberland strategies. The system also deploys capital into private equity through a Portfolio Completion Strategies program, designed to build exposure to mid-market buyout and growth funds. This signals a deliberate move to capture illiquidity premiums typical of smaller public plans with mature liability profiles. The geographic focus is predominantly US-based, with likely Massachusetts-rooted real estate and natural resource holdings. The system maintains its primary presence in Stoneham, Massachusetts. Team size and total assets are not publicly published. The board is an active member of the Massachusetts Association of Contributory Retirement Systems (MACRS), an industry association that provides education and advocacy for the state's 104 public pension boards. No recent operational events such as new mandates, asset allocation studies, or personnel changes have been publicly reported. The structural identity of the Stoneham Contributory Retirement System is shaped by its participation in the Massachusetts public pension regulatory framework. Unlike multi-employer state funds, it operates as a standalone local system, giving the five-member retirement board direct fiduciary control over all investment decisions. This creates a governance model where a small team, led by an executive director, administers benefits and manages an external advisor network to deploy assets—a structure that concentrates accountability compared to larger pooled state systems.
General information
Firm type
Pension Fund
Year founded
1937
Location
Region
North America
Country
United States
City
Stoneham
Corporate office
Stoneham, MA, United States
Principals
Christopher Delisi
Executive Director
Janice Houghton
Board Chairperson
Sector focus
Frequently asked questions
Who makes investment decisions at the Stoneham Contributory Retirement System?
A five-member retirement board, chaired by Janice Houghton, holds fiduciary authority over all investment decisions. Christopher Delisi serves as the board's Executive Director, managing day-to-day operations and likely coordinating with external investment consultants and managers. The board's structure is defined by Massachusetts General Laws Chapter 32, which governs the state's local contributory retirement systems.
How does the Stoneham Contributory Retirement System fit into the broader Massachusetts public pension landscape?
Stoneham operates as one of 104 independent local contributory retirement systems in Massachusetts, a structure that differs from states with a single consolidated pension fund. It falls under the regulatory oversight of PERAC, which conducts audits, sets investment guidelines, and establishes funding schedules. The system is a member of MACRS, which coordinates training and legislative advocacy for local boards.
What alternative assets does the system invest in?
The portfolio includes a dedicated timberland allocation, often accessed through commingled funds that own and manage working forestland for both income and capital appreciation. It also maintains a Portfolio Completion Strategies sleeve focused on private equity, designed to build exposure to buyout and growth strategies. Real estate is an additional alternative allocation, likely weighted toward income-producing properties in the Northeast.
Is the Stoneham Contributory Retirement System's funding status publicly available?
Yes. As a public entity regulated by PERAC, the system files annual actuarial valuation reports that disclose its funded ratio, unfunded liability, and required contribution schedules. These reports are public record and accessible through PERAC's actuarial data system, typically showing a multi-decade amortization schedule designed to reach full funding.
What role does PERAC play in the system's operations?
PERAC audits the system's financial statements, reviews actuarial assumptions, and enforces compliance with Massachusetts public pension law. The commission does not make investment decisions but sets the regulatory framework within which the Stoneham board operates, including restrictions on certain asset classes and reporting requirements.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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