The MBTA shuttles over a million passengers a day around Greater…

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.

At a time when state tax revenues are plummeting, a plan to modernize sales tax collection could get money into state coffers more quickly. This report analyzes the merits of a two-part proposal Governor Baker included in his January state budget submission to streamline state sales tax collections. Sullivan and Mikula find that the first part of Baker’s plan makes sense and is entirely feasible because advances in electronic data processing and electronic funds transfer have eliminated the need for protracted remittance timetables.

In a new brief, Pioneer shows that whistleblowers’ 2015 claims that the MBTA Retirement Fund (MBTARF) has been underreporting its unfunded pension liabilities was correct. In their study, Boston University Professor Mark T. Williams and Bernie Madoff whistleblower Harry Markopo­los outlined three specific ways in which the T pension fund was misrepresenting its liability, by a total of $280 million. At the time, MBTARF vigorously refuted the validity of the findings, but a new Pioneer brief presents in-depth analysis vindicating Williams and Markopolos.

Despite several reform bills targeted at the Commonwealth of Massachusetts’s public pension system in recent years, the unfunded actuarial accrued liability (UAAL) has continued to rise and is drawing closer to a crisis level.

Just 16 percent of dues paid by the average member of a union affiliated with the Massachusetts Teachers Association (MTA) actually goes to their local association, while the remaining 84 percent flows to the state (MTA) and national (National Education Association) organizations.

This report illustrates that increased use of employer-sponsored commuter benefit programs could boost MBTA revenue significantly, reduce employee commuting costs, provide employer savings, reduce traffic congestion and yield environmental benefits.

This report documents significant deficiencies in the actuarial valuations produced by the Massachusetts Bay Transportation Authority Retirement Fund (MBTARF) since 1990. Analysis of about a quarter-century of data suggests that the MBTARF's actuarial reports may have deviated considerably from the true cost of pension benefits. As of yearend 2015, the fund had an estimated unfunded liability of about $944 million.

This report focuses on setting a strategic target for substantial increases in MBTA ridership. The author examines ridership trends from 2002 through the most recent available data for 20162, tracking annual growth in ridership from September through August for each year on the following six transit modes: heavy rail (the Blue, Orange and Red Lines), light rail (Green Line), commuter rail, bus, trolley bus and ferry service. The report offers projections of potential revenue the MBTA could generate in a range of scenarios.

This report illustrates that had MBTA Retirement Fund (MBTARF) assets been placed in the Massachusetts state pension fund at the end of 2000, their value would have been an estimated $902 million greater by 2014 and T pensions would have been about fully funded.

This paper is the first in Pioneer Institute’s UMass at a Crossroads series. In this study, Pioneer focuses on UMass’ significant growth in two areas, academic competitiveness and student enrollment, compared to other New England state universities, MA private universities, national private universities and national public universities. Pioneer raises the question of whether the continued expansion of UMass, based largely on increased enrollment of out-of-state students, is in the best interest of the commonwealth.