The Massachusetts Bay Transportation Authority Retirement Fund (MBTARF) today released FTI Consulting’s Audit Report assessing the MBTARF related to the report’s Annual Reports for the calendar years 2011, 2012, and 2013. The Independent Audit refutes previous allegations, showing that they were unsupported and unsubstantiated.

James O’Brien, President of the Boston Carmen’s Union, Local 589 and MBTARF Board Member

“We welcome FTI Consulting’s audit report on the MBTARF. The Boston Carmen’s Union, Local 589 takes the obligations to represent our members and pension holders very seriously, and we have taken an active leadership role on the MBTARF Board to ensure their interests are represented. There were serious allegations previously made about the integrity of the fund, which were unsupported and unsubstantiated. As this report makes clear, those allegations were both reckless and false. FTI’s audit report shows that MBTARF’s leadership, and fund managers of the MBTARF have carried out their duties responsibly and professionally. We are proud to tell our members that their retirement funds are in good hands.”

Jim Evers, Treasurer of the Boston Carmen’s Union, Local 589 and Chair of the MBTARF Board

“We have maintained 100 percent confidence in the MBTARF, even in the face of allegations claiming mismanagement. I’m proud to chair this diverse, and dedicated board that strives to work on behalf of one common objective – the financial security of members and pension holders of the MBTARF. I’m happy to be able to report that the independent analysis, unanimously approved by the Board, refutes the grossly irresponsible allegations previously made regarding the MBTARF.”

Click on the following link to view this report:: http://goo.gl/Mb2N7d.