BOSTON – Michael Mulhern, the head of the MBTA Retirement Fund, is resigning after 10 years in that post, asserting that the fund has been subjected to "ill-informed" criticism.
In a letter dated Monday to James Evers, the chairman of the Massachusetts Bay Transportation Authority Retirement Fund board, Mulhern, a former general manager of the T, said the timing was right for him to move on. He cited a report from outside consultants confirming the accuracy of the fund's financial statements and that the fund has published its Comprehensive Annual Financial Report for 2014.
About a half dozen people tasked with cash-handling duties within the MBTA urged the transit agency's overseers on Monday not to outsource the agency's money room operations.
Looking at an overhaul of the MBTA's fare collection systems, agency officials have considered employing a private vendor that could take responsibility when fare gates fail. Under the current system, when fare gates are stuck open, the T can miss out on rider revenue.
