Boston Boards Convene for Retirement, Cannabis, and Education Sessions

Boston Government Boards Address Financial and Community Priorities

Boston’s city government remains active this Wednesday, January 21, 2026, with several high-profile boards and commissions meeting to address financial oversight, local business licensing, and educational incentives. While the City Council has no formal full session scheduled for today, Mayor Michelle Wu and various municipal bodies are moving forward with legislative and administrative priorities for the new year.

Mayor Wu Announces New Incentives for Boston Saves

Mayor Michelle Wu began the day by announcing a new incentive program for "Boston Saves," the city’s children’s savings account initiative. Designed to boost financial literacy and long-term planning for Boston Public Schools (BPS) students, the program is offering a special January promotion. Families who log into the online platform for the first time by the end of the month will receive an additional $25 deposit into their child’s account.

Mayor Wu emphasized that these resources are vital for ensuring every student has the opportunity to thrive regardless of their economic background. The program currently supports thousands of BPS students from K2 through 6th grade, providing seed money for future college or career training. The Mayor noted that connecting families to these tools is a transformative part of the city's second-term vision.

Retirement Board and Financial Oversight

At City Hall, the Boston Retirement Board convened at 10:00 a.m. in the Room 816 Board Room. The administrative session focused on several technical but critical updates for the city’s pension system. Key agenda items included the review of several memos from the Public Employee Retirement Administration Commission (PERAC). These memos outlined the 2026 interest rate set at 0.1%, anti-spiking calculations for union members, and the annual Cost of Living Adjustment (COLA) notice.

The board also held discussions regarding a private equity search and is expected to vote on investment recommendations involving several capital management firms. Additionally, the board reviewed the amended operating budget for the 2026 fiscal year, ensuring the city’s long-term financial obligations remain on track for the coming months.

Cannabis Board and Local Business Hearings

The afternoon is highlighted by a virtual public hearing held by the Boston Cannabis Board at 1:00 p.m. The board is reviewing several significant applications and amendments for marijuana retailers across the city’s neighborhoods. Key topics on the agenda include:

• Operating hour amendments for the Underground Legacy Social Club in Mattapan.
• Retailer and product manufacturer applications for Castleleaf in Brighton.
• New license proposals for establishments in Dorchester, Downtown, and Hyde Park.

Evening Education Session

The day concludes with a virtual meeting of the Boston School Committee at 5:30 p.m. While the City Council’s main legislative body is not in session today, this committee provides a platform for public testimony regarding school policies and the ongoing implementation of the city’s Long-Term Facilities Plan for the 2026-2027 school year.