Valuing its local control, WRS has not turned its assets over to PRIT
Dubois said the move to the PRIT
fund was "the best thing for our members at this time.
Jointly, Shermco and PRIT
will provide a strong network of electrical solutions to their clients in the Chicago Metropolitan Area, in addition to the surrounding states.
So it still remains much less diversified than the state fund or most of the 78 local funds that have their assets invested with PRIT
Patrick on Monday is expected to sign legislation that will force the Worcester regional fund and about 24 other local funds whose performance has lagged behind the state's investment returns into PRIT
Legislation passed by the state House of Representatives last week would force the fund to be taken over by the state, but next week's vote by the board would voluntarily merge the local assets with PRIT
, which has significantly outperformed it, with an investment rate of return that has been more than two percentage points higher over the last decade.
Blanchette, and the board investment consultant, Kevin Leonard, yesterday appeared ready to move the fund's assets into PRIT
, but there was no vote on the issue.
systems uses microwaves (radio relay) run on solar energy to transmit signals, which is very efficient because of how quickly it can be installed and its low cost compared with satellite and fibre optic systems.
Donoghue, who went on paid sick leave from his $133,500-a-year job on June 5, has fiercely opposed the governor's PRIT
takeover legislation, which state lawmakers may vote on as soon as this week.
The regional fund hasn't come close to matching PRIT
and, given its built-in handicaps, is not likely to improve on its record.
The board is exploring the possibility of turning over the money to PRIT
," Roger R.
When the Worcester Regional Retirement Board meets June 26, it should transfer management of its fund to the state Pension Reserves Investment Management Board, which supervises the $48 billion PRIT
and dozens of other local funds.