Deadlock continues over MBTA pension fund
BOSTON (AP) — The MBTA’s retirement fund board has been asked to appear at a hearing of the Legislature’s Joint Committee on Public Service after a vote to keep the fund’s performance secret.
The board is in the midst of a long-running fight with the governor and the Legislature to open more of the pension fund’s records, a stance that has drawn more attention after a $25 million investment loss came to light last year.
The Boston Globe (http://b.globe.com/1c4eJmU ) reports that Tuesday’s appearance comes after the seven-member board deadlocked last month on a vote whether to disclose records.
The T’s $1.6 billion retirement fund has resisted making the information public, saying it is a private trust. But calls for release of the information increased as taxpayers have been forced provide more to cover T pensions.
Information from: The Boston Globe, http://www.bostonglobe.com