PRIT Fund Segmentation
On May 15, 1996, Governor William Weld signed into law Chapter 84 of the Acts of 1996, which explicitly confirms retirement boards’ authority to invest in individual asset classes of the PRIT Fund as an alternative to investing in the aggregate Fund. This "segmentation" of the PRIT Fund’s investment options gives local retirement boards flexibility to pick and choose specific asset classes* in whatever proportions they believe are best suited to their needs.
Operating Trust Agreement
Investment in the PRIT Core is subject to the provisions of the Commonwealth of Massachusetts, Pension Reserves Investment Management ("PRIM") Board, Operating Trust, as on September 22, 1998, as amended from time to time (the "Operating Trust").
There is no statutory provision requiring a retirement system to seek a waiver from the Public Employee Retirement Administration Commission ("PERAC") to invest in the PRIT Core.
Please call PRIM’s Senior Client Service Officer, Paul Todisco, at (617) 946-8423, if you would like any additional information about investing in the PRIT Core or the available segmented portfolios.
Prospective investors are urged to consult their legal and financial advisors when considering an investment in the PRIT Core.