The Pension Reserves Investment Management ("PRIM") Board is charged with the general supervision of the Pension Reserves Investment Trust (“PRIT”) Fund, created by legislation (Chapter 661 of the Acts of 1983) to accumulate assets through investment earnings and other revenue sources in order to assist the Commonwealth in reducing its unfunded pension liability, and likewise to assist local participating retirement systems in meeting their pension obligations.

The PRIT Fund is a pooled investment fund that invests the assets of the Massachusetts Teachers’ and State Employees’ Retirement Systems, and the assets of the county, authority, district, and municipal retirement systems that choose to invest in the PRIT Fund. The nine-member PRIM Board acts as trustee for each retirement system that invests assets in the PRIT Fund.

PRIM’s mission is to provide a professional investment service that maximizes the return on investment within acceptable levels of risk by broadly diversifying its investment portfolio, capitalizing on economies of scale to achieve cost-effective operations, and providing access to high quality, innovative investment management firms, all under the management of a professional investment staff and members of the PRIM Board and its Committees.