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
As a businesswoman, local official and community leader, Deb Goldberg brings to the State Treasurer’s office innovative leadership, disciplined fiscal management and an unwavering commitment to ensure economic stability, security and opportunity for every Massachusetts resident.
Elected in 2014, Deb’s focus is to protect taxpayer dollars, bring new levels of transparency to state government and advance policies that break down barriers and create economic empowerment through wage equality, financial literacy and college savings plans to name a few.
Deb remains deeply aware that even as our economy recovers ahead of many other states, too many families struggle to maintain ongoing financial security, lacking the tools, resources and skills they need to get ahead.
Deb served for six years on the Brookline Board of Selectmen, including two as its Chair, bringing policy budgeting to the forefront and enabling the community to maintain financial flexibility, even in tough times. She worked collaboratively to increase the supply of affordable housing, promoted appropriate economic development and launched new environmental protection efforts.
Prior to her career in public service, Deb worked in retail operations, buying and consumer affairs at The Stop & Shop Companies, Inc., a business her family grew from a small grocery store in the North End into a $1.2 billion New York Stock Exchange (NYSE) company with 50,000 employees. At Stop & Shop, workers earned fair pay and good benefits to provide for their families.
Deb’s experience includes a range of non-profit initiatives that have empowered women, children and families. She understands and has leveraged public-private partnerships to offer creative, high-impact policy solutions that combat the societal inequities we face. She is the President of Adoptions with Love, a non-profit adoption agency, and also serves on the Advisory Board of the Greater Boston Food Bank. Deb was one of the Founders of Berkshire Hills Music Academy, a school for individuals with intellectual disabilities, and has been the Senate President’s appointee to the Commonwealth Covenant Fund in the Treasurer’s office since its inception.
A graduate of Boston University, Boston College Law School and Harvard Business School, Deb grew up in Brookline where she still lives with her husband Michael Winter and their son, Evan, and daughter, Meredith.
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.
Ruth Ellen Fitch served as President and Chief Executive Officer for nine years at The Dimock Center, retiring in June 2013. Prior to her position with Dimock, Ms. Fitch practiced law with Palmer & Dodge LLP where she became the first Black woman partner at a Boston law firm. Before attending law school, Ms. Fitch was Director of the METCO program in the Brookline Public Schools. She also taught Black literature at the University of Massachusetts at Boston.
She holds a Bachelor of Arts Degree in Economics from Barnard College, Columbia University and a Juris Doctor degree from Harvard Law School, where she served for three years on the Law School Administrative Board.
As President and Chief Executive Officer of The Dimock Center, Ms. Fitch returned to the Roxbury neighborhood where she grew up, bringing her significant experience managing complex organizations, as well as her commitment to helping others overcome social and economic obstacles. She serves as a Director of Health Law Advocates and as a Director of the Harvard Pilgrim Health Care Foundation. She is also a trustee of the Ludcke Foundation.
Ms. Fitch received an Honorary Doctor of Humanities degree from Curry College in 2011 and an Honorary Doctoral Degree from Simmons College in 2014. She received the Pinnacle Award for achievement in the legal profession from the Greater Boston Chamber of Commerce, the Women’s Bar Association of Massachusetts Award, the Charles Hamilton Houston Public Service Award from the Harvard Black Law Students Association, and the Distinguished Alumna Award from Girls’ Latin School/Boston Latin Academy, where she has been a commencement speaker.
Mr. Hearty brings to the PRIM Board extensive private- and public-sector finance experience -- including three years as executive director at PRIM and nine years on the board during the 1990s. Currently a Partner at Clough Capital, where he oversees marketing and business development, Jim also has held senior positions at Relational Investors LLC and Lehman Brothers. He is a graduate of Williams College and The Advanced Management Program at The Harvard Business School.
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.
Mr. Monaco is a Managing Director and member of the Management Committee at Raptor Group Holdings, a privately held diversified investment holding company. At Raptor, Mr. Monaco has responsibility for evaluation of , and participates in the management and governance of, a wide range of investment and business initiatives. Prior to joining Raptor Group in January 2009, he was a Partner and Managing Director at Tudor Investment Corporation, where he worked from August 1993 to December 2008 as a senior securities analyst. At Tudor, he also supervised and mentored others, assisted in the evaluation of portfolio managers and traders recruited to Tudor, served on the Firm’s Credit and Counter Party Risk Management and Government Relations and Regulatory Affairs Committees, and helped with the evaluation of strategic and proprietary capital investments. He began his career at Scudder, Stevens & Clark, Inc. where, from May 1987 to August 1993, he was a securities analyst and portfolio manager on teams with responsibility for international equity, international fixed income, and U.S. below investment grade debt portfolios. Mr. Monaco is a 1986 graduate of Harvard College and is active in a number of non-profit organizations.
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
Carly Rose has been a member of the Massachusetts State Police since 2005. She is assigned to the Attorney General’s office and focuses on cases involving major crime, financial crime, cyber crime, public integrity, human trafficking and gaming enforcement. She also is a member of the Attorney General’s Executive Protective Team. Trooper Rose has received numerous awards for her service.
Trooper Rose comes to the PRIM Board with a great deal of experience serving the PRIT Fund’s beneficiaries. For five years prior to joining the State Police, she was employed by the Massachusetts Teachers Retirement Board as a senior client services representative advising public school teachers and administrators on retirement-related financial and contractual matters and conducting public seminars on retirement-related matters for teachers.
Trooper Rose holds a master’s degree, with honors, in criminal justice from Suffolk University and a bachelor’s degree, with honors, in criminal justice from Salem State University.
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.