An Act concerning investments of the Massachusetts Pension Reserve Investment Management (PRIM)

This bill (HD 995) requires Massachusetts' pension fund (PRIM) to enforce labor standards on investments in private real estate, equity, and infrastructure projects where it holds a majority stake (over 50% equity). It mandates that developers and operators must use "responsible contractors" who pay fair wages and benefits, provide health care and apprenticeships, and avoid contractors debarred for wage violations. For projects with less than 50% PRIM ownership, the fund must encourage but not require these standards. The bill also prohibits investments risking public job losses or reputational harm and requires PRIM to vet external managers for labor compliance and risk management.