# Watertown Retirement System

Watertown Retirement System is a Pension Fund based in Watertown, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Watertown, United States
- **Region:** North America
- **Address:** 149 Main Street, Watertown, MA, United States
- **Founded:** 1937
- **Assets under management:** 275 (Altss estimate)
- **Website:** watertownretirement.com

## Regulatory record

- **Reports private funds:** No

## About

The Watertown Contributory Retirement System was established in 1937. It serves as the defined benefit vehicle for eligible employees of the City of Watertown. Governance rests with a six-member board that includes elected, appointed, and ex-officio members. Assets total $275 million. Roughly 39 percent sits in global equities and 34 percent in core fixed income. Private equity accounts for about 11 percent and real estate for 9 percent. The system holds positions in PRIT Core Real Estate, TA Realty Core Property Fund, TerraCap Partners IV, and Arsenal Real Estate Fund I-A. It also maintains exposure through RCP Fund IV and Auda Ventures LP. Investments are concentrated in North America with additional global equity and private equity mandates. The board retains Fiducient Advisors as investment consultant and Sherman Actuarial Services as actuary. No additional offices exist beyond the Watertown headquarters. The system belongs to the Massachusetts Association of Contributory Retirement Systems. Board composition and PERAC oversight create the primary structural constraints. All major commitments flow through pooled vehicles rather than direct co-investments.

## Sectors

- Diversified

## People

- Thomas V. Thibaut, Jr. — Chairperson of the Retirement Board
- Kayla Sheehan — Board Administrator and Records Access Officer

## Questions

### Who runs investment decisions at Watertown Retirement System?

A six-member Retirement Board chaired by Thomas V. Thibaut, Jr. sets policy. Kayla Sheehan serves as board administrator. The board retains Fiducient Advisors for day-to-day consulting.

### Does Watertown Retirement System participate in fund commitments or only direct deals?

The system invests almost exclusively through pooled vehicles. Holdings include multiple PRIT accounts, TA Realty Core Property Fund, and RCP Fund IV.

### What investment stages does Watertown Retirement System typically target?

The system targets a mix of public equities, core and value-add real estate, and private equity vintage programs. It does not run a direct early-stage venture book.

### How is Watertown Retirement System related to the PRIM Board?

It participates as one of many Massachusetts systems in the Pension Reserves Investment Trust managed by the PRIM Board.

## Related profiles

- [Patterson Foundation](https://altss.com/profile/patterson-foundation)
- [Weber State University Endowment](https://altss.com/profile/weber-state-university-endowment)

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

Canonical page: https://altss.com/profile/watertown-retirement-system

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