Massachusetts Port Authority Employees' Retirement System Board Meeting Minutes
The Board reviewed investment portfolio summaries and market condition analyses provided by investment firms. Discussions were held regarding actuarial assumptions, the potential for a COLA base increase, and administrative file migration strategies. The Board approved an application for involuntary ordinary disability retirement and several superannuation retirement applications. Actions were also taken to adopt the 2025 PERAC Annual Statement, ratify monthly investments, authorize monthly vouchers, select a firm for death audit services, and file a non-objection status regarding a pending legal appeal.
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Massachusetts Port Authority Employees' Retirement Board Board Meeting Minutes
The board addressed several agenda items, including disability-related hearings and matters, specifically conducting an executive session for a disability retirement application and granting accidental disability retirement to a member. The board accepted lump sum workers' compensation settlements for multiple members. KPMG presented audit results and financial statements. Additionally, the board entered an executive session to discuss information security strategies. Authorization was granted for board and staff attendance at an educational conference. The board ratified investments for the prior month and approved payment vouchers. Finally, several superannuation retirement applications were approved, and the Director provided updates on in-service death notifications, pending reports, and upcoming departmental matters.
Feb 26, 2026·Board meeting
Massachusetts Port Authority Employees' Retirement System Board Meeting Minutes
The board ratified investment activities for the month and approved substantial payments for vouchers, including retiree payroll and other operational expenses. Applications for superannuation retirement were reviewed and approved for two individuals. An executive session was conducted to hear an accidental disability retirement application. The Director's report covered an appeal regarding beneficiary designation, the status of an RFQ for death audit services, an update on pension software vendor contracts, and the timeline for upcoming financial fieldwork.
