Lawrence’s Failed Public Pension System
by Guest Blogger Rohit Chaparala Pioneer’s newest transparency tool, MassPensions.com reveals a pressing need for reform in Lawrence’s public pension system. Launched earlier this month, the site allows Massachusetts residents to view details of public pension plans throughout the state, providing access to performance indicators including a plan’s financial condition, investment performance, and asset allocation. From this data, the site then generates an overall composite grade for the plan. The City of Lawrence’s plan ranks among the worst in the state. Over the past five years (2008-2012), Lawrence’s public pension system has yielded a D, F, C, D, and an F. Here’s a statistical breakdown: From 2009 to 2010, Lawrence’s funded ratio, the percentage of pension assets available to cover […]