The nine-member PRIM Board acts as Trustee for each retirement system that invests in the PRIT Fund and is responsible for the control and management of the Fund. The Treasurer & Receiver-General of the Commonwealth is a member ex officio and serves as the Chair. The Treasurer appoints one member who is a private citizen with an investment/business background. The Governor, or his designee, is also an ex officio member and appoints two members of the Board: one is a non-state official or employee and one is a representative of a public safety union. The State-Teachers’ Retirement System has two representatives on the Board: the members of that Retirement System elect one, and one is an Elected Member of the Massachusetts Teachers’ Retirement Board. The State Employees’ Retirement System also has two representatives on the Board: the members of that Retirement System elect one, and one is an Elected Member of the State Employees’ Retirement Board.
State Treasurer & Receiver General
Steve Grossman brings to the office of Treasurer and Receiver General a family heritage of public service, a lifetime dedicated to helping others, and years of experience as a hard-working businessman with a sense of responsibility for the well-being of his colleagues and his community.
He is committed to using the full potential of the Treasurer's office to protect the public's money, help create jobs, boost small businesses, and bring new standards of transparency and disclosure to state government. Throughout his career he has had an unshakable commitment to recruiting, hiring, and retaining the most qualified people, based on merit, and that principle will guide his new administration.
Steve has spent the last 35 years creating jobs, managing money, dealing with crises, and finding commonsense solutions to problems as CEO of Grossman Marketing Group in Somerville, a 100-year-old, fourth-generation family business. He grew the company's revenues eightfold, entering new markets and repositioning the company to meet the challenges of an evolving economy. Steve knows what it's like to meet a payroll and to keep a business going in tough times, and he brings that expertise and commitment to public office.
He is a leading figure in numerous charitable organizations. Steve serves as a trustee of Project Bread, an advisory board member of the Women's Lunch Place, and chairs the advisory board of Cambridge College. He was a founding board member of Massachusetts Institute for a New Commonwealth (MassINC), a former campaign chair of Combined Jewish Philanthropies, and a founding board member of the Lenny Zakim Fund.
As chairman of both the Massachusetts and national Democratic parties, Steve established a track record as a reformer and builder - working aggressively to implement effective management and financial controls while at the same time empowering more activists to participate in political life.
He was elected Treasurer in 2010.
Steve is a graduate of Princeton University and Harvard Business School. His wife, Dr. Barbara Wallace Grossman, a theater historian, author, and director, is a professor at Tufts University and serves as Vice Chair of the Massachusetts Cultural Council. They have three sons, David, Ben, and Josh.
Private Citizen Experienced in the Field of
Investment or Financial Management
Mr. Aikens joined the PRIM Board in May 2001. He spent the majority of his distinguished career at the former BankBoston (now Bank of America). Prior to his retirement, he was a Managing Director in the Portfolio Management unit where he increased profitability and returns on the $25 billion Wholesale Bank Portfolio. During his tenure at BankBoston, Mr. Aikens held many other key positions, including Managing Director, Emerging Markets Investment Banking (1995- 1996); Director of the U.S. Multinational Division (1993-1995); Group Senior Credit Officer & Senior Vice President of Global Banking Group (1990-1992), and Senior Credit Officer in the International Group (1987-1990). Mr. Aikens also provided technical consulting services to executives of BankBoston’s lending organizations to improve deteriorating lending relationships (1985-1987); he was the senior workout officer for various transportation, industrial and international bankruptcies and restructurings (1983- 1985); and he managed domestic loan commitments (1980-1983). Prior to joining BankBoston, he was a Lender in the Chemicals and Rubber Division of the Corporate Banking Department of Chase Manhattan Bank in New York (1974-1976) where he developed expertise in specialty chemical companies. Mr. Aikens is a graduate of Harvard University School’s Professional Management Development Program and earned his Juris Doctorate at Northeastern Law School. He also holds a B. A. in Economics from Brandeis University. Mr. Aikens is currently a Professor at Brandeis University. He has at various times, served on the boards of Wheelock College and Boston Acoustics, Inc.
Retired Teacher, Town of Wareham School System
Mr. Brousseau is the Fund’s longest serving Board member, initially elected in 1987. He also serves as Chair of the Administration Committee. Mr. Brousseau retired in 1994, after 34 years of dedicated service as a classroom teacher in the Wareham School System where he taught U.S. History, French, English, and Social Studies. Mr. Brousseau is a member of the National Education Association (NEA), the Retired Educators Association of Massachusetts (REAM) and has been a long-time activist with the Massachusetts Teachers’ Association (MTA). He served on the Board of Directors and Executive Committee of the MTA from 1973 to 1985 and currently serves as Vice-Chair of the the MTA's Candidate Recommendation Committee. Mr. Brousseau graduated from Fitchburg State College with a BS in Education, majoring in Social Studies and English. He received his Masters in Education from Bridgewater State College. Mr. Brousseau also has completed 30 credits of postgraduate work.
Non-State Employee or Official Member
Mr. Hubbard is currently an attorney at the law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. in Boston where he provides general corporate law and business advice to public and private corporations. In 2011 and 2012, Mr. Hubbard has been selected by his peers to be included in The Best Lawyers in America for his expertise in non-profit/charities law. He is admitted to practice in Massachusetts. He received his B.A., magna cum laude, from Seattle University (1981). He earned his M.B.A. from Haas Graduate School of Business Administration and his J.D. from Boalt Hall School of Law at the University of California, Berkeley (both in 1985).
State Employees' Retirement Board
Theresa McGoldrick is currently the President of SEIU/NAGE Unit 6, representing over 3,500 members statewide. Theresa is also the National Auditor for SEIU/NAGE. Prior to her involvement with SEIU/NAGE, she spent over 7 years as an attorney for The Mass. Department of Revenue, Child Support Enforcement Division. During that time Theresa earned the American Jurisprudence Award for Excellence in Family Law. She is a graduate of both the New England School of Law and Stonehill College.
Ex Officio Member
Greg Mennis is the Assistant Secretary for Fiscal Policy in the Massachusetts Executive Office for Finance and Administration, where he is responsible for retirement benefits policy, long-term fiscal planning, and the state’s infrastructure investment incentive program. A graduate of the Harvard Kennedy School, Greg has over 20 years of experience working in corporate finance and the retirement services industry. Greg joined A&F in 2009 from JP Morgan Chase, where he served as Global Head of Pricing for Worldwide Security Services.
State Teachers' Retirement Board
Retired Educator, Millis Public Schools
Mr. Naughton began his career as a public school educator in the Millis Public Schools in 1968, where he served as a high school social studies teacher for 33 years, as well as social studies department head and golf coach. During that time he served on New England Association of Schools and Colleges (NEASC) evaluating teams at Concord-Carlisle Regional High School, Manchester High School (now Manchester Essex High School) in Manchester-by-the-Sea, and University Park Campus School in Worcester. He served as principal of Millis High School from 2001 to his retirement in 2004.
From 1977 to 1997, Mr. Naughton served as president of the Millis Teachers Association. He also served several terms on both the Board of Directors and Executive Committee of the Massachusetts Teachers Association. Since his retirement, he served as interim assistant principal at Norton High School in 2005-2006, and as interim principal at Douglas High School in 2009.
Mr. Naughton is actively involved as a retired life member of the Massachusetts Teachers Association and the National Educational Association. He holds an A.B. in History from Saint Anselm College and an M.A.T. in History from Assumption College. Mr. Naughton resides in Foxborough.
Public Safety Union Member
A member of the Massachusetts Department of State Police 68th RTT, 1987, Dana Pullman is the current Treasurer of the State Police Association of Massachusetts ("SPAM").
Mr. Pullman's current duties include the oversight and management of the funds of the organization as well as the development of new and expanded benefits for the members of SPAM. While Chairman of the Finance and Oversight Committee and the Details Committee, Mr. Pullman also serves as a member of the Labor Management and Bargaining Committee.
On a national level, Mr. Pullman serves as the National Trooper Coalition Regional Coordinator, bringing the national organization to the Commonwealth in 2010 for the first time in 30 years.
System Representative; Director of Professional
Liability, Amity Insurance, Quincy, MA
Paul Shanley has thirty plus years of experience in all phases of public pension plans, including employee rights and benefits and pension fund investment. Responsibilities included statutory interpretation, medical disability appeals, litigation, legislation drafting and investment manager selection.
As Deputy State Treasurer/General Counsel he represented the State Retirement Board in hundreds of administrative appeals, numerous Superior Court cases, including two cases he presented to the Massachusetts Supreme Judicial Court. Paul also served as the State Treasurer’s designee as Chairman of the State Retirement Board and served on the transition team that implemented the prudent man rule for the investment program of the State and Teachers Retirement Systems that today is PRIM. Currently he serves as the Director of Professional Liability for Amity Insurance. In that capacity he is responsible for the coordinating and placing of the Fiduciary and Fidelity insurance coverage for the majority of the public pension systems in Massachusetts, including the MACRS Policy. The MACRS policy provides blanket coverage for 90 public pension systems in the Commonwealth. Additionally, Paul provides Fiduciary and Fidelity coverage individually for the Boston, MBTA, Middlesex, Cambridge and Brockton Retirement Systems.