Bill > H3058

This bill directs the Secretary of Administration and Finance to conduct an actuarial study, which is an analysis of financial risk using statistical and mathematical methods, of the Massachusetts Bay Transportation Authority (MBTA) Retirement Fund. The study will examine the fund's operations and performance, compare it to other retirement and pension funds across America, and identify any oversight issues that emerge. The findings of this study are to be submitted to various legislative and MBTA leadership bodies, including the Speaker of the House, the Senate President, the House and Senate Committees on Ways and Means (which oversee state spending), the MBTA Board of Directors, and the MBTA Advisory Board, by January 1, 2016. This initiative aims to provide a comprehensive understanding of the retirement fund's financial health and management.