MBTAAnalysis: A look inside the MBTA
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The MBTA shuttles over a million passengers a day around Greater…
Technology and Innovative Finance
This event featured a keynote address by Joseph Giglio, entitled "Rethinking Mobility for the New Century." Professor Giglio is Executive Professor for General Management at Northeastern University, author of a new book entitled Mobility, a Board Member for Pioneer Institute’s Shamie Center for Better Government, and Vice Chairman of the Hudson Institute.
The Elephant in the Room: Unfunded Public Employee Health Care Benefits and GASB 45
Authors: Eric S. Berman, CPA, Deputy Comptroller, Commonwealth…
Leaving Money on the Table: The 106 Pension Funds of Massachusetts
Author: Ken Ardon
The focus of this paper is the choice that…
The Elephant in the Room: Unfunded Public Employee Health Care Benefits & GASB 45
Authors: Eric S. Berman, CPA, Deputy Comptroller, Commonwealth…
Leaving Money on the Table: The 106 Pension Funds of Massachusetts
Author: Ken Ardon
The focus of this paper is the choice that…
Public Pensions
While the pension system is not overly generous for typical employees, it is riddled with exceptions, ambiguities, and loopholes that allow some of them to abuse the system and collect unwarranted benefits, resulting in tremendous cost to the state and ultimately to taxpayers. The root of these problems is that the calculation of benefits is not based on the simple concept of contributions but the complicated interplay of four factors—years of eligible service, maximum three years of compensation, "group" or job classification, and retirement age.
Leaving Money on the Table: The 106 Pension Systems of Massachusetts Public Employee Benefits Series: Part 2
The focus of this paper is the choice that local retirement boards have of managing their own investors or investing all or a portion of their assets in PRIT. Most local boards choose to retain control of their investments. In 2004, 55 out of the 104 local systems invested entirely on their own, 29 had some assets invested in PRIT or the PRIT segmentation program, and only 20 invested entirely with PRIT.