Entries by Iliya Atanasov

Tough Decisions Needed to End MBTA Gravy Train

In the past 15 years, the MBTA has paid Wall Street firms an estimated $236 million in interest after gambling on synthetic swaps. Such financial derivatives are rife with risk and were among the most significant contributors to the global financial crisis of 2008. The T’s reform-minded leadership would do well to trim these exposures, […]

Boston Herald: Atanasov: T’s ‘private’ pension board veers off track

Friday, April 11, 2014 Iliya Atanasov The MBTA Retirement Fund’s management has been aggressively spending taxpayers’ and retirees’ money to fend off attempts by the media and the Legislature to shine a light on its books. And the reason is becoming all too obvious. Earlier this year, senior executives testified before the Legislature’s Joint Committee […]

Who’s Responsible for the MBTA Retirement Fund

It cannot have been a particularly merry Christmas for Stephen Crawford, spokesman for the MBTA Retirement Fund. In the run-up to the holidays, a series of Boston Globe articles recounted a potentially fraudulent $25 million loss at the pension fund, blatant conflicts of interest and repeated failures to follow standard accounting practices – not to […]

MA Retirement Systems in Critical Condition, Fiscal Risks Remain High

Expert Testimony: Several Retirement Systems in Critical Condition, Fiscal Risks to Remain High New accounting rules will demand higher pension contributions; unfunded retiree healthcare liabilities major long-term threat BOSTON – The unfunded liabilities of several retirement systems in the state may precipitate a number of local bankruptcies in the next economic crisis, unless managers adopt […]