Boston Retirement System
The City of Boston participates in a contributory defined benefit retirement system that is administered by the Boston Retirement System (BRS). BRS is one of 106 public pension systems governed by Massachusetts General Law Chapter 32. Boston’s current pension schedule is based on an actuarial asset valuation as of January 1, 2016. The current pension schedule assumes a long term rate of return of 7.75%.
The City’s pension liability is currently 74.96% funded and is on track to reduce the unfunded liability to zero by 2025, fifteen years prior to the legally required funding date of 2040.
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