National Railroad Retirement Investment Trust

Overview

Established in 2002, the National Railroad Retirement Investment Trust (NRRIT) is a tax-exempt entity responsible for managing and investing assets from the Railroad Retirement Account. Its primary objective is to ensure the financial strength of the railroad retirement system by achieving a long-term rate of return sufficient to fund benefits for railroad workers and their families. The Trust operates independently from the federal government and is governed by a seven-member Board of Trustees, comprising three members selected by railroad labor unions, three by railroad companies, and one independent trustee. The Board is authorized to adopt rules to govern its operations, employ professional staff, and contract with outside advisors to provide necessary services for the proper administration of the Trust. The Trust's investment strategy focuses on a diversified portfolio, including fixed income, equity, private equity, hedge funds, real estate, infrastructure, commodities, and crypto assets. It invests in various stages, such as growth, late stage, pre-IPO, buyout, turnaround, and distressed situations, primarily within the United States. The Trust's investments span multiple industries, including financial services, infrastructure, real estate, energy, technology, healthcare, consumer goods, telecommunications, utilities, materials, industrials, consumer services, basic materials, consumer non-durables, and technology hardware & equipment. As of December 31, 2024, the Trust had received a total of $21.3 billion from the Treasury for investment and had transferred a total of $34.6 billion to the Treasury to fund benefit payments and administrative expenses of the Railroad Retirement Account. The Trust's investment decisions are guided by its fiduciary responsibility to act solely in the interest of the Railroad Retirement Board and the program's participants and beneficiaries, ensuring the long-term solvency and security of the railroad retirement system.

Investment Focus

• Diversified investment portfolio
• Long-term rate of return sufficient to fund benefits
• Fiduciary responsibility to Railroad Retirement Board and beneficiaries

Portfolio Companies