Nick Favorito: Executive Director
Wilmington, MA — Nick Favorito has joined the North Atlantic States Carpenters Benefit Funds as Executive Director.
Favorito has devoted almost 25 years of his career to employee retirement and related benefits administration. Most recently, he has served as a Deputy Treasurer for Retirement Services in the Office of the Massachusetts Treasurer & Receiver General. In this capacity, he has been the Executive Director of the Massachusetts State Employees’ Retirement System (MSERS), a defined benefit retirement plan.
The MSERS is administered by the Massachusetts State Retirement Board, which supports more than 85,000 active members and more than 68,000 retirees & beneficiaries, annually issuing more than $2.75b in benefits.
Favorito also oversaw the Commonwealth’s Deferred Compensation Plans Division and was Treasurer Deborah Goldberg’s designee to the Massachusetts Teachers’ Retirement Board, the State Retiree Benefit Trust (OPEB) Fund Board, and various other boards and committees.
Prior to joining the MSERS, he practiced with the law firm of Murphy, Hesse, Toomey & Lehane, LLP where he specialized in public employee retirement law, and education and special education law.
North Atlantic States Carpenters Benefit Funds (NASCBF) is comprised of five benefit funds that provide retirement, health and other benefits to more than 45,000 active and retired plan participants of the United Brotherhood of Carpenters across a 7-state region including Massachusetts, Connecticut, Rhode Island, Maine, New Hampshire, Vermont and New York (but excluding New York City). For more information, visit https://www.carpentersfund.org/
