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Executive Office for Administration and Finance

The Stabilization Fund and Long-Term Liability Financing Task Force

The Stabilization Fund and Long-term Liability Task Force was established to evaluate the Commonwealth’s fiscal stability and long-term obligations. The Task Force reviews policies for the state’s Stabilization Fund (Rainy Day Fund), assesses strategies for managing pensions and retiree health care liabilities, and provides recommendations to strengthen financial resilience.

The Task Force is charged with:

Reviewing best practices for managing the Stabilization Fund.
Evaluating long-term obligations, including pensions and other post-employment benefits.
Recommending strategies to promote fiscal sustainability and transparency.
Providing guidance to policymakers on strengthening Massachusetts’ financial outlook.

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Commission Members

Matthew Gorzkowicz, Secretary of Administration and Finance, Chair
Sue Perez, Deputy Treasurer for Debt Management – Office of the Treasurer (Treasurer Appointee)
Thomas Smith-Vaughan, Chief Operating Officer – Office of the Comptroller (Comptroller Appointee)
Timothy Rooney, Chief Financial Officer – Department of Revenue (Commissioner of Revenue Appointee)
Henry Dormitzer, Managing Partner and Trustee – Choate, Hall & Stewart LLP (Governor Appointee)
June Matte, Retired Managing Director – PFM Financial Advisors LLC (Treasurer Appointee)

Task Force Staff

Christopher Marino, Assistant Secretary for Budget – Executive Office for Administration and Finance
Laura Taronas, Finance Director – Executive Office for Administration and Finance

Final Report

Stabilization Fund & Long-Term Liability Financing Task Force Final Report

Reference Documents

Open PDF file, 1.01 MB, Presentation - December 5, 2025 (English, PDF 1.01 MB)
Open PDF file, 1.7 MB, Presentation - November 17, 2025 (English, PDF 1.7 MB)
Open PDF file, 1.41 MB, Presentation - October 16, 2025 (English, PDF 1.41 MB)
Open PDF file, 1 MB, Presentation - September 25, 2025 (English, PDF 1 MB)

Meeting agendas and minutes

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