The State Retiree Benefits Trust Fund (SRBTF) is governed by a Board of Trustees. The Board meetings are usually held four times a year through remote participation until otherwise noted. Meetings are open to the public - please contact us to gain access.
Board Members
Henry Clay, Chair
(Designee of the Massachusetts Treasurer and Receiver General Deborah B. Goldberg)
Henry Clay received undergraduate and graduate (MBA) degrees from Northeastern University. Served over twelve years in the US Army Reserve in enlisted and officer ranks. He works in the Treasurer’s Cash Management Office as the Director of Investments. He is responsible for cash flow, the Commonwealth’s Local Government Investment Pool – MMDT, and is a member of the Audit Committee and Oversight Committee for the Defined Contribution 457 SMART Fund and the Defined Contribution CORE Plan for Nonprofits.
Matthew Gorzkowicz
Secretary of the Massachusetts Executive Office of Administration and Finance
Matthew Gorzkowicz is the Secretary of the Executive Office for Administration and Finance. He has more than 25 years' experience in state finance and budgeting in the Commonwealth. He has served as the Associate Vice President for Administration and Finance at the University of Massachusetts President's Office for more than a decade, where he has had a direct role in setting the University’s long-range administrative and financial goals and managed the development of an annual operating budget of $3.8 billion.
William McNamara
Comptroller of the Commonwealth of Massachusetts
William McNamara is the 20th Comptroller of Massachusetts. A native of Norwood and graduate of Norwood High School, Bill McNamara earned his Bachelor of Arts in Economics and English at Williams College and a Master of Business Administration with a concentration in finance at Dartmouth College’s Tuck School of Business. His post-M.B.A. career began at Norton Company in Worcester, where he was the senior business analyst in the office of the CFO and Controller. Transitioning to the investment industry in 1992, McNamara spent sixteen years at Fidelity Investments. He rose through the finance function to become CFO of a major division with a budget of over $500 million.
William T. Keefe
Executive Director of the Public Employee Retirement Administration Commission (PERAC)
Bill Keefe is the Executive Director of the Public Employee Retirement Administration Commission (PERAC) after serving for over four years as Assistant Deputy Director overseeing the audit, compliance and communications units while directing legislative affairs. Previously, he spent 23 years in the Office of the State Auditor, the last nine as Director of Audit Planning. Keefe earned a Bachelor’s from Syracuse University in journalism and political science and started his career as a newspaper reporter and editor.
Catherine Moore
Budget Director at the Group Insurance Commission (GIC) (Designee of the GIC Executive Director Matthew Veno)
Theresa Flynn
Gubernatorial Appointment
Theresa Flynn is a Partner with Brown & Brown; an employee benefits advisory firm. She has over 25 years of experience in employee benefits consulting including expertise in health benefit design, employee engagement strategies, compliance, financial analysis, and the integration of benefit programs following mergers and acquisitions. Theresa is also a member of the Board of Directors for the New England Employee Benefits Council and an elected member of the Select Board for the Town of Shrewsbury, Massachusetts.
Michael C. Tow, CFP
Treasurer Appointment
Certified Financial Planner™ practitioner Michael Tow is President and Founder of New Boston Financial. He has an extensive background in personal finance. For over 25 years, he has been managing investments and personal finances for families and individuals.
2025 Board Meetings
| Date | Notice & Agenda | Minutes | Materials |
|---|---|---|---|
| 03/13/2025 | Notice & Agenda | Minutes | PRIM Presentation |
| 06/12/2025 | Notice & Agenda | PRIM Presentation | |
| 09/11/2025 | TBD | ||
| 12/11/2025 | TBD |