Retirement Board & Staff
The Massport Employees’ Retirement System (MPAERS) is administered by a five-member board consisting of one ex officio member, two elected members, one member appointed by Massport, and one member appointed by the four board members. The retirement staff manage the day to day operations of the Retirement System.
James P. Costello was the original appointed member of MPAERS when it was established in 1978. He has been reappointed to nine subsequent three-year terms. A former member of the Massport Board, Jim is currently the Senior Staff Representative for Labor on the Commonwealth of Massachusetts Joint Labor Management Committee.
Michael A. Grieco, Massport’s Assistant Secretary-Treasurer, was appointed to the retirement board in 1996. Prior to joining the Authority in 1990, Michael held administrative and finance positions with the City of Boston and the Town of Watertown. He holds a Bachelor of Science degree from Boston College and a Juris Doctor and Master of Business Administration from Suffolk University.
Philip H. Mallett was first elected as the employee representative to the Massport Employees’ Retirement Board in 1989. He was reelected to the Board in 1996 and is currently serving his sixth three-year term. Phil has also worked as a union representative for over 400 Massport employees since 1974, previously serving as the field representative for Teamsters Local #25. He became the Local #25 Recording Secretary on January, 1, 2007.
John P. Pranckevicius joined the board in April 2007 as Treasurer-Custodian (ex officio) and currently serves as Massport’s Chief Financial Officer. John is a licensed Certified Public Accountant in the State of Massachusetts. Prior to working at Massport, John served for 12 years as the City of Worcester’s Budget Director from 1993 to 2005 and was promoted to Chief Financial Officer for the City of Worcester in 2005. John earned a Bachelor of Science degree and a Master of Science degree in Public Administration from the University of Maine and a Master of Science in Accountancy from Bentley College.
Betsy Taylor was elected as an employee representative to the retirement board in 2013. She joined Massport in 1978 and has held a variety of financial positions. She is currently Massport’s Director of Finance and Treasury and is responsible for issuing Massport’s debt and managing its $800 million cash portfolio. She previously worked at UMass, Smith College and Lesley College. She holds a Bachelor of Arts from Oberlin College and a Masters in Business Administration from Stanford University.
Irene E. Moran joined the Massachusetts Port Authority Employees’ Retirement System in 1995 as retirement board assistant. She was promoted to the director of retirement position in 1997. Prior to her employment at Massport, Irene worked as a support manager for DataNational Corporation. She holds a Bachelor of Arts degree from the University of New Hampshire.
Laura Barbosa joined the Massachusetts Port Authority Employees’ Retirement System in 1997 as retirement board coordinator and became the acting retirement communication specialist in March 2008. Prior to that, Laura worked in both the Accounts Payable and Payroll departments at Massport. Laura participated in the Massport mentoring program in 1999 and received a Massport Outstanding Achievement Award in 2007.
Nancy Bournival joined the Massachusetts Port Authority Employees’ Retirement System in 1996 as retirement board accountant. She currently holds the position of financial analyst. Prior to joining Massport, she was an auditor for State Street Bank & Trust. She earned a Bachelor of Science degree in Business Administration from Suffolk University.