MBTA RF

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.

BOSTON – Stories in The Boston Globe (“Madoff whistle-blower: The T’s pension plan may be $470M short,” June 27th, and “T pension board’s new members call for tough review of fund,” June 29th) validate concerns about the management and condition of the...