Press Releases: Pensions

Expert Testimony: Several Retirement Systems in Critical Condition, Fiscal Risks to Remain High New accounting rules will demand higher pension contributions; unfunded retiree healthcare liabilities major long-term threat BOSTON – The unfunded liabilities of several retirement systems in the state may precipitate...

State leaders’ 2010 decision to postpone the deadline for full funding of the state and teachers’ retirement systems from 2025 to 2040 may cost taxpayers up to $26.4 billion.

Study Finds Lack of Transparency and Chronic Underfunding Among Reasons For Sharply Deteriorating MBTA Retirement Plans’ Finances MBTA Retirement Fund does not post complete financial statements or board minutes online, isn’t subject to state pension regulations BOSTON – The MBTA Retirement Plan’s...

Study Finds Further Reform of GASB Rules Necessary, But Must Be Measured A new Pioneer Institute white paper finds that further accounting rule and pension-investment regulation reforms are necessary to put public pension systems on a firmer footing and foster a gradual...

Study Finds Increased Pension COLA Will Require Communities to Appropriate Additional $500 Million Over 20 Years State, teachers’ and 47 of 103 local systems have raised base amount to which COLAs are applied BOSTON – Raises enacted by local public-employee pension systems to the...

REVISED STUDY FINDS THAT CONSOLIDATING ADMINISTRATION OF PUBLIC EMPLOYEE PENSION SYSTEMS COULD SAVE UP TO $27 MILLION ANNUALLY Huge disparity in staffing levels, number of beneficiaries served by 105 existing public retirement systems In July 2013, Pioneer released “Do We Need Them?”...

Study Finds Financial Condition of MBTA Retirement Plan Deteriorated Sharply, But Lack of Transparency Makes It Impossible To Know Why Plan doesn’t post financial statements or investment performance online, isn’t subject to state pension regulations BOSTON – The MBTA Retirement Plan’s financial...

User-Friendly Online Tool Provides Easily Accessible Data, Rates Performance Of Commonwealth’s 100+ Public Pension Systems Pioneer Institute is unveiling the MassPensions data accessibility tool that provides year-by-year comparative data and ratings for the performance of each of the commonwealth’s more than 100...

While current policies provide a solid basis for preserving assets in Massachusetts’ 105 public pension funds, improvements and updates would boost flexibility and investment returns, while promoting accountability and limiting unnecessary risks, according to a new study published by Pioneer Institute.

Pension boards across Massachusetts must use more rigorous actuarial assumptions about pension fund investment returns and accelerate the rate at which they pay down unfunded liabilities to meet the 2040 statutory deadline for fully funding public pensions in the Commonwealth according to a new study published by Pioneer Institute, The Fiscal Implications of Massachusetts Retirement Boards’ Investment Returns.