Massachusetts Pension Reserves Investment Trust

The Massachusetts Pension Reserves Investment Trust (PRIT) is a public pension fund based in Boston, established in 1983. It is managed by the Pension Reserves Investment Management Board, which oversees the fund's operations and investment strategies. PRIT aims to accumulate assets through investment earnings to reduce the Commonwealth's unfunded pension liability and to assist local retirement systems in fulfilling their future pension obligations. The fund primarily invests the assets of the Massachusetts State Teachers', State Employees', and State-Boston/Teachers' Retirement Systems, along with other local retirement systems that choose to participate. The PRIT Fund's diversified investment portfolio includes global equity, fixed income, private equity, real estate, timberland, and various portfolio completion strategies, reflecting its commitment to maximizing returns while managing risk for its beneficiaries.