All residents of Massachusetts should be allowed to invest in the $36.1 billion state pension fund administered by the Massachusetts Pensions Reserves Investment Management Board, Boston, according to a suggestion this week by former U.S. Rep. Joseph Kennedy, said Eileen O'Connor, spokeswoman for state Treasurer Timothy P. Cahill. Mr. Kennedy recommended the plan in comments at the Massachusetts Democratic State Party's annual dinner on April 4. Ms. O'Connor said the Mr. Cahill is "intrigued by the idea and is interested in exploring it." She noted that the proposal would require a great deal of research and there is currently no timetable for investigating the suggestion.
Mr. Kennedy proposed the move in part because of the pension fund's strong performance, Ms. O'Connor said; it posted a 14.4% return on investments in 2004.