Boston Retirement System (BRS)

The Boston Retirement System (BRS) is the pension fund serving employees of the City of Boston, Massachusetts. It is a defined benefit plan, providing retirement, disability, and survivor benefits to its members. The system is part of the Massachusetts Public Employee Retirement Administration Commission (PERAC), which oversees public pension funds within the state.

The BRS was established to manage the retirement benefits for city employees, including firefighters, police officers, teachers, and other city workers. It operates under the guidelines set by Massachusetts General Laws and is governed by a retirement board that administers the pension plan, manages the fund's investments, and ensures the financial sustainability of the system to meet its future liabilities.

The primary function of the BRS is to collect contributions from both employees and the city, invest these funds to grow the system's assets, and distribute benefits to retirees and their beneficiaries. This includes calculating retirement benefits based on factors such as years of service and final average salary, offering options for early retirement, disability retirement, and providing survivor benefits to the dependents of deceased members.