# Wellesley Retirement Board

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

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Wellesley, United States
- **Region:** North America
- **Address:** 525 Washington Street, Lower Level, Wellesley, MA 02482, United States
- **Assets under management:** 283 (Altss estimate)
- **Website:** wellesleyma.gov

## Regulatory record

- **Reports private funds:** No

## About

The Wellesley Retirement Board was established to administer benefits for municipal employees excluding teachers. It consists of five members and reports to the Public Employee Retirement Administration Commission. The system allocates 17.1 percent to private equity and holds positions in the PRIT Private Equity Portfolio and PRIT Portfolio Completion Strategies. Real estate exposure reaches 9 percent through the PRIT Core Real Estate Fund and additional PRIT real estate holdings. Timberland represents 2.9 percent of assets. Geographic reach centers on the United States with global components via PRIT vehicles. Assets total $283 million. The board maintains one office in Wellesley and participates in the Massachusetts Association of Contributory Retirement Systems. September 2024: Attended the MACRS Fall Conference in Springfield, MA. Service providers include Meketa Investment Group as consultant and Segal as actuary. The board invests exclusively through the PRIT Fund rather than making direct commitments, creating a fully commingled structure that limits independent manager selection.

## Sectors

- Public Pension
- Private Equity
- Real Estate

## People

- David Kornwitz — Chairperson
- Timothy Barros — Vice Chairperson
- Lynn Whynot — Retirement Director

## Questions

### Who runs investment decisions at Wellesley Retirement Board?

David Kornwitz serves as Chairperson. The five-member board sets policy while day-to-day administration falls to Retirement Director Lynn Whynot.

### Does Wellesley Retirement Board make direct investments or only fund commitments?

The board routes all assets through the Pension Reserves Investment Trust Fund and does not execute direct deals or separate account mandates.

### What asset classes receive the largest allocations?

Global equities represent 39.4 percent, core fixed income 14.8 percent, and private equity 17.1 percent of the portfolio.

### Which external firms provide services to the board?

Meketa Investment Group acts as investment consultant, Segal serves as actuary, and Powers & Sullivan performs the annual audit.

### How is the board governed relative to other Massachusetts systems?

It functions as an independent contributory retirement system under PERAC oversight and participates in the Massachusetts Association of Contributory Retirement Systems.

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

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

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