MBTA Retirement Swaps $175M in SSGA Funds for MassPRIM

The Massachusetts Bay Transportation Authority Retirement Fund redeemed $175M of investments in SSGA-managed funds, investing the proceeds in equity and real estate segments managed by the Massachusetts Pension Reserves Investment Management Board (MassPRIM).

According to meeting minutes from its September 20 board meeting, the MBTA pension approved a motion to redeem up to $130M invested in the SSGA Russell 1000 Index NL Fund and $45M invested in the SSGA MSCI EAFE Index Fund. In turn, the board approved a $175M investment in several segments managed by MassPRIM: $105M to domestic equity, $40M to international equity, and $30M to real estate.

According to Dakota data, the MBTA pension manages approximately $1.7B in assets.

For more public pension insights and a comprehensive library of public plan minutes, book a demo of Dakota Marketplace!