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 12, 2026·Board meeting
Massachusetts Port Authority Board Meeting
The meeting covered numerous strategic and operational topics, beginning with comments from the Chair and a report from the CEO detailing the agency's response to a significant snowstorm, highlighting preparation and employee commitment. Key agenda items included a strategic plan timeline, customer satisfaction anecdotes such as proactively safeguarding a vehicle left on a garage roof and Legal Sea Foods earning top restaurant recognition, and an update on Logan Airport passenger volume (25.2M YTD, 2.7% below forecast) amidst economic uncertainty. Financial performance showed revenues ahead of budget for Q1+Q2 FY26, while leadership updates covered a large-scale employee leadership development program, Black History Month recognition, and the Board Chair receiving an award. Environmental efforts focused on converting equipment to Renewable Diesel and the Terminal E Modernization Project achieving LEED Platinum certification. Maritime operations provided year-end business activity updates for Conley Terminal and Flynn Cruiseport, alongside detailed productivity metrics. A significant focus was placed on the $4.1 billion FY26-FY30 Capital Investment Plan (CIP), detailing planned investments across Logan, Hanscom, Worcester, Maritime, and REAM, with over 40% dedicated to ground transportation needs. Priorities included safety and security projects like the Runway 9-27 Safety Area Improvements and the Air Traffic Control Tower Program, planning for growth projects such as the Braintree Logan Express Garage/Remote Terminal, customer experience enhancements like the A to B Post Security Connector, and financial performance investments like the North Service Area Program. The Board also addressed the Residential Sound Insulation Program (RSIP) and the Oracle Fusion Cloud Implementation Services contract amendment.
