This study illustrates why issuing pension obligation bonds (POBs) to refinance $360 million of the MBTA Retirement Fund’s (MBTARF’s) $1.3 billion unfunded pension liability would only compound the T’s already serious financial risks.
About EJ McMahon
E.J. McMahon is a public policy analyst focused on state and regional economic, fiscal, and demographic trends. McMahon is founding senior fellow of the Empire Center for Public Policy in Albany, New York, and an adjunct fellow at the Manhattan Institute for Policy Research. A former journalist, he also served in senior staff positions in New York state government. McMahon is a graduate of Villanova University.