This event featured a keynote address by Joseph Giglio, entitled “Rethinking Mobility for the New Century.” Professor Giglio is Executive Professor for General Management at Northeastern University, author of a new book entitled Mobility, a Board Member for Pioneer Institute’s Shamie Center for Better Government, and Vice Chairman of the Hudson Institute.
Download Report: Technology and Innovative Finance
Authors: Eric S. Berman, CPA, Deputy Comptroller, Commonwealth of Massachusetts and Elizabeth K. Keating, CPA, Ph.D, Lecturer on Law, Harvard Law School, Harvard University
This paper will review Statement 45’s potential impact on governments and review existing disclosures in financial reports as well as bond offering statements. The paper will discuss the Statement’s impact on budgets and governmental operations, including collective bargaining. Funding options under Statement 45 will be detailed, including the advantages and disadvan- tages of irrevocable trusts and OPEB bonds. The paper will also discuss the impact of Medicare Part D subsidies received by governments, as well as the bond rating implications of policy decisions surrounding OPEB. Finally, the paper will discuss case law that has already come before state courts related to restructuring of benefits.
The Elephant in the Room: Unfunded Public Employee Health Care Benefits and GASB 45
Author: Ken Ardon
The focus of this paper is the choice that local retirement boards have of managing their own investors or investing all or a portion of their assets in PRIT. Most local boards choose to retain control of their investments. In 2004, 55 out of the 104 local systems invested entirely on their own, 29 had some assets invested in PRIT or the PRIT seg- mentation program, and only 20 invested entirely with PRIT.
“She’s a good girl. She helps me a lot. She has big, big dreams. I don’t have the money, but she has big dreams. I hope she’s going to get everything, but she works so hard. She works so hard in school.”
“Our family is needing to make some really big sacrifices because we believe this is important, and so, we’re basically going to do whatever it takes… Sometimes we look at each other and go ‘I don’t know if I can do it again another month…’”
“A lot of the families have to sacrifice and work multiple jobs… And just scraping together enough money to just make tuition, just the basics.”
“It is discriminatory, that parents who want to choose an alternative to public school for their children, would not in any way receive any compensation for that, whether it be tax credit, whether it be a voucher…”
In the 1840s, nativist movement leaders formed official political parties and local chapters of the national Native American Party (later the American Party), although they continued to be commonly known as the Know-Nothing Party. Politicians sought to insert provisions into state constitutions against Catholics who refused to renounce the pope. The Know-Nothing movement brought bigotry and hatred to a new level of violence and organization.
The party’s legacy endured in the post-Civil War era, with laws and constitutional amendments it supported, still today severely limiting parents’ educational choices. A federal constitutional amendment was proposed by Speaker of the House James Blaine prohibiting money raised by taxation in any State to be under the control of any religious sect; nor shall any money so raised or lands so devoted be divided between religious sects or denominations. These were then named the Blaine Amendments of 1875.
in recent decades, often in response to challenges to school choice programs, the U.S. Supreme Court has demonstrated great interest in examining the issues of educational alternatives and attempts limit parental options. Massachusetts plays a key role in this debate. The Bay State was a key center of the Know-Nothing movement and has the oldest version of Anti-Aid Amendments in the nation, as well as a second such amendment approved in 1917. Two-fifths of Massachusetts residents are Catholic, and its Catholic schools outperform the state’s public schools, which are the best in the nation.
This event featured a keynote address by Joseph Giglio, entitled “Rethinking Mobility for the New Century.” Professor Giglio is Executive Professor for General Management at Northeastern University, author of a new book entitled Mobility, a Board Member for Pioneer Institute’s Shamie Center for Better Government, and Vice Chairman of the Hudson Institute.
Download Report: Technology and Innovative Finance
Authors: Eric S. Berman, CPA, Deputy Comptroller, Commonwealth of Massachusetts and Elizabeth K. Keating, CPA, Ph.D, Lecturer on Law, Harvard Law School, Harvard University
This paper will review Statement 45’s potential impact on governments and review existing disclosures in financial reports as well as bond offering statements. The paper will discuss the Statement’s impact on budgets and governmental operations, including collective bargaining. Funding options under Statement 45 will be detailed, including the advantages and disadvan- tages of irrevocable trusts and OPEB bonds. The paper will also discuss the impact of Medicare Part D subsidies received by governments, as well as the bond rating implications of policy decisions surrounding OPEB. Finally, the paper will discuss case law that has already come before state courts related to restructuring of benefits.
The Elephant in the Room: Unfunded Public Employee Health Care Benefits and GASB 45
Author: Ken Ardon
The focus of this paper is the choice that local retirement boards have of managing their own investors or investing all or a portion of their assets in PRIT. Most local boards choose to retain control of their investments. In 2004, 55 out of the 104 local systems invested entirely on their own, 29 had some assets invested in PRIT or the PRIT seg- mentation program, and only 20 invested entirely with PRIT.
Technology and Innovative Finance
/0 Comments/in Transcripts /by Pioneer InstituteThis event featured a keynote address by Joseph Giglio, entitled “Rethinking Mobility for the New Century.” Professor Giglio is Executive Professor for General Management at Northeastern University, author of a new book entitled Mobility, a Board Member for Pioneer Institute’s Shamie Center for Better Government, and Vice Chairman of the Hudson Institute.
Download Report: Technology and Innovative Finance
The Elephant in the Room: Unfunded Public Employee Health Care Benefits and GASB 45
/0 Comments/in Economic Opportunity, Press Releases, Press Releases: Economic Opportunity /by Editorial StaffAuthors: Eric S. Berman, CPA, Deputy Comptroller, Commonwealth of Massachusetts and Elizabeth K. Keating, CPA, Ph.D, Lecturer on Law, Harvard Law School, Harvard University
This paper will review Statement 45’s potential impact on governments and review existing disclosures in financial reports as well as bond offering statements. The paper will discuss the Statement’s impact on budgets and governmental operations, including collective bargaining. Funding options under Statement 45 will be detailed, including the advantages and disadvan- tages of irrevocable trusts and OPEB bonds. The paper will also discuss the impact of Medicare Part D subsidies received by governments, as well as the bond rating implications of policy decisions surrounding OPEB. Finally, the paper will discuss case law that has already come before state courts related to restructuring of benefits.
The Elephant in the Room: Unfunded Public Employee Health Care Benefits and GASB 45
Leaving Money on the Table: The 106 Pension Funds of Massachusetts
/0 Comments/in Better Government, Economic Opportunity, Press Releases /by Editorial StaffAuthor: Ken Ardon
The focus of this paper is the choice that local retirement boards have of managing their own investors or investing all or a portion of their assets in PRIT. Most local boards choose to retain control of their investments. In 2004, 55 out of the 104 local systems invested entirely on their own, 29 had some assets invested in PRIT or the PRIT seg- mentation program, and only 20 invested entirely with PRIT.
Leaving Money on the Table: The 106 Pension Systems of Massachusetts Public Employee Benefits Series: Part 2