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Press Releases: Pensions

Research on public pensions and unfunded liabilities
American Citizenship, Opportunity
February 24, 2017

Study: Inefficient Public Pension Investment Costs Taxpayers About $100 Million A Year

Local systems forfeited some $2.9 billion over 30 years by not investing with PRIM, probably billions more if fees and compounding are included Read coverage of this report in the Boston Herald, The Bond Buyer, and Associated Press. BOSTON – The commonwealth should...
American Citizenship, Opportunity, Transportation
June 9, 2016

Study: T Pensions Would Be Worth $902M More Had Assets Been Managed by State Pension Fund After 2000

MBTA would have saved $676 million, T pensions would have been fully funded BOSTON – Had MBTA Retirement Fund (MBTARF) assets been placed in the state pension fund at the end of 2000, their value would have been an estimated $902 million...
American Citizenship, Opportunity, Transportation
January 26, 2016

A $49 Million Sweetheart Deal: MBTA Employee Sick Time Perk Enhances Pensions

Listen to the WRKO radio clip of Mary Connaughton interviewed by Kim Carrigan; read a Boston magazine article. On Tuesday, Mary was on Boston Herald radio: A story in the Boston Herald today shows that MBTA workers are boosting their pensions with...
American Citizenship, Opportunity
February 5, 2015

STUDY: MA Public Pension Systems Unprepared for Next Recession

Actuarial assumption adjustments clarify which funds are troubled and which are more stable BOSTON – Almost five years after the stock-market bottom, Massachusetts public pension systems’ investments had not yet fully recovered to pre-crisis levels while liabilities increased to new records, leaving...
American Citizenship, Opportunity
February 5, 2015

Study: Massachusetts Public Pension Systems Unprepared for Next Recession

Actuarial assumption adjustments clarify which funds are troubled and which are more stable BOSTON – Almost five years after the stock-market bottom, Massachusetts public pension systems’ investments had not yet fully recovered to pre-crisis levels while liabilities increased to new records, leaving...
American Citizenship, Opportunity
November 21, 2014

Study: “Fair Market Valuation” of Pension Liabilities Neither “Fair” Nor “Market”

Study Shows “Fair Market Valuation” of Pension Liabilities Neither “Fair” Nor “Market” Method ignores risk and capital structure, does not provide valid and reliable estimates of retirement-plan liabilities BOSTON – Using government-bond yields as a discount rate to evaluate the liabilities of...
American Citizenship, Opportunity
November 12, 2014

Study: Public Pension Liabilities Are Undervalued by Tens of Billions of Dollars

Historical Market Performance of Asset Classes Held by Retirement Funds Indicates Public Pension Liabilities Are Undervalued by Tens of Billions of Dollars Assets in pension funds’ portfolios have historical market returns of 6-7 percent annually rather than 7-8 percent typically assumed; state...
American Citizenship, Opportunity, Transportation
July 28, 2014

Study: MBTA Retirement Fund Failings a Cautionary Tale

Study Finds Poor Governance Structure, Lack of Accountability and Transparency at Heart of MBTA Retirement Fund Failings MBTARF dramatically underperforms state retirement fund, is plagued by cronyism and endemic conflicts of interest A poor governance structure that gives control over hundreds of...
American Citizenship, Opportunity
February 20, 2014

The End of the Line for the MBTA Retirement Fund?

Without Taxpayer Support, MBTA Retirement Fund Would Become Insolvent Between 2024 and 2036 Current employees would have to contribute at least one quarter of their salaries to stabilize fund’s finances BOSTON – The MBTA Retirement Fund (MBTARF) has long claimed that it is...
American Citizenship, Opportunity, Transportation
February 6, 2014

Study Calls for MBTA Employees to Be Transferred to State Pension System

Despite claims to the contrary, overly generous benefits, early retirement perks render troubled MBTA Retirement Plan unsustainable BOSTON – The commonwealth should develop a plan to transfer MBTA employees from the transit authority’s troubled retirement plan to the state system, according to...