The Taunton Retirement Board is responsible for maintaining $270 Million in pension assets for the City of Taunton's retirement system in compliance with Mass. General Law 32. The Board's mission is to provide retirement benefits to plan participants and to safeguard the assets of the system. The retirement board is charged with the responsibility of prudently investing the pension assets to maximize the investment returns with the goal of becoming a fully funded system. The Plan is a public employee contributory defined benefit plan first established in 1937.