Firefighters and retirement boards press committee for PRIT governance and funding‑ratio changes

Paul Jacques, legislative agent for the Professional Firefighters of Massachusetts, and Michael Riley, legislative agent for the Massachusetts Association of Contributory Retirement Systems, testified before the Joint Committee on Public Service in support of multiple retirement and governance bills.

Jacques said the Professional Firefighters of Massachusetts supports House Bill 2999 and Senate Bill 1862 “an act relative to fair worker representation on joint purchasing group committees,” which would provide labor representation on certain purchasing or oversight committees. “We would just like to go on the record in support of House Bill 2999, Senate Bill 1862,” Jacques said.

Michael Riley described three related proposals. He said House Bill 2933 (and companion Senate Bill 1816) would change PRIT board membership to add a seat representing non‑state, non‑teacher retirement systems. Riley summarized the historical basis for PRIT in Chapter 661 of the Acts of 1983 and said that, since passage, participation has broadened to include municipal and county systems whose assets now represent roughly $25,000,000,000 in the PRIT fund.

Riley also testified in favor of House Bill 2954 (and companion bill H/ S 1813), which would change the statutory threshold for labeling a public retirement system “underperforming.” Under current law, Riley said, a system is treated as underfunded if its funding ratio is below 65% and certain contribution triggers exceed 2% of the PRIT fund over the previous 10 years. The proposed change would lower the funding‑ratio trigger to 50%, increase the PRIT‑variation trigger from 2% to 3% over the prior 10 years, and convert the current “in perpetuity” requirement into a five‑year period, allowing a system to withdraw after five years on the same terms as voluntary entrants.

Riley also expressed support for the firefighters’ bill, and both witnesses said they submitted written testimony for the record. Riley thanked committee staff and noted that Kathleen Calia Bacchetti, the association’s president, was unable to attend the hearing but would submit additional written testimony.

No committee votes or referrals were recorded during the hearing on these measures; the speakers went on record in support. The committee accepted oral testimony during the hybrid session and set a deadline for written submissions; the hearing concluded without formal committee action.