The Fund was established on January 1, 1948, under an agreement and declaration of trust (restated on October 28, 1980) by and among the Massachusetts Bay Transportation Authority (the Authority), Local 589, Amalgamated Transit Union, Boston Carmen’s Union and AFL CIO (collectively, the Union). The Fund is a single employer plan. It was established as a contributory defined benefit retirement plan in accordance with the Pension Agreement; effective July 1, 1970, (restated thereafter) adopted by the Authority and the Union for the purpose of receiving contributions and providing pension benefits for its members and qualified beneficiaries.
The MBTA Retirement Fund Board seeks to utilize its assets under management to the benefit of the membership by strategically and methodically allocating financial resources to a differentiated portfolio of investments while utilizing the knowledge and experience of a broad range of investment managers.
The Board determines investment objectives, strategies, and policies of the Fund. The Executive Director of the Fund is accountable for the Fund’s general management and operations and reports to and advises the six-member Board of Trustees. The staff of the Fund work diligently to uphold the original mission of serving members and their families.