Tag Archive for: pension

MBTAAnalysis: A look inside the MBTA

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

The Clock is Ticking…….

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The clock is ticking towards December 30, 2017.  As part of…

New Report: Massachusetts Maintains Reasonable Debt Relative to GSP

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Massachusetts has more debt than any New England state. Can we afford to pay it off or will we hand it down to future generations?

Study Finds Pension Obligation Bonds Could Worsen T Retirement Fund’s Financial Woes

A new study published by Pioneer Institute finds that 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.

Rolling the Retirement Dice: Why the MBTA Should Steer Clear of Pension Bonds

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.

Study: Pandemic Pension Bonus Bills Would Cost Billions and Unfairly Favor Highly Compensated Public Employees

Two identical bills to reward public employees with a retirement credit bonus for working during the COVID-19 emergency are currently pending in each chamber of the Massachusetts Legislature.  The bills would add billions of dollars in liabilities to public pension funds and reward workers based on their compensation, years of service and age rather than the type or duration of the work performed during the emergency, according to a new study published by Pioneer Institute.

The Massachusetts Retirement Credit Bonus Legislation: Missing the Mark While Costing Billions

Two identical bills to reward public employees with a retirement credit bonus for working during the COVID-19 emergency are currently pending in each chamber of the Massachusetts Legislature. The bills would add billions of dollars in liabilities to public pension funds and reward workers based on their compensation, years of service and age rather than the type or duration of the work performed during the emergency, according to a new study published by Pioneer Institute.

Pandemic Pension Payout: Essential COVID-19 Public Workers Rewarded Whether Essential or Working

Hubwonk host Joe Selvaggi talks with Pioneer Institute’s Director of Research and former Massachusetts Inspector General and State Representative Greg Sullivan about HB 2808, COVID-19 Essential Employee Retirement Credit Bonus, discussing the merits of the recently proposed joint bill, its cost, and our current public debt burden in the Commonwealth.

Public Statement on the MA Legislature’s Blanket Pension Giveaway

Beacon Hill just put on full display what happens when it is awash in money. House Bill 2808 is entitled, “An Act relative to providing a COVID-19 retirement credit to essential public workers.”  It calls for adding three years of additional retirement credit to state “employees who have volunteered to work or have been required to work at their respective worksites or any other worksite outside of their personal residences during the COVID-19 state of emergency…” But upon reading the brief bill, it quickly becomes clear that this legislation is irresponsible in the extreme.

Whistleblowers Were Proven Right: MBTARF Was Underreporting Its Unfunded Pension Liabilities

In a new brief, Pioneer shows that whistleblowers’ 2015 claim…

Study Says State Unfunded Pension Liability Rising Despite Recent Reforms, Overall Strong Economy

More responsible assumptions about pension fund investment performance…

Public Statement on MBTA Ridership & Pension Costs

Monday’s meeting of the MBTA Fiscal and Management Control…

How Do Alternative Investments Stack up in State Pensions?

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There are numerous expert opinion on the proper investment strategy…

How You Can Audit Massachusetts’ Pension Boards

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Just recently Kathy Curran led an investigation into Massachusetts…

Op-ed: Neglect creates pension tsunami

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A version of this op-ed appeared in The Berkshire Eagle, The…

So you want to know something about pensions?

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Now anyone can become a local pension system expert...  A…

Study Estimates $27 Million In Savings Annually From Consolidation Of Public Pensions

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Local retirement systems generate heavy costs, larger fiduciary…

Study: Evidence Suggests MBTA Pension Low-Balled Costs And Liabilities

Quarter-century of data shows costs at up to six times valuation…

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

Local systems forfeited some $2.9 billion over 30 years by not…

Ensuring a secure financial future for older adults

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Every day, 10,000 Americans turn age 65. Adults over this age…

Report Calls for Independent Audit & Actuarial Valuation of T Pension Fund

Response commissioned by fund to whistleblower report dismissed…

Study Calls For Steps Toward Terminating Troubled MBTA Retirement Fund

The MBTA should assess the feasibility of moving its employees out of the Social Security system and transfer investment management responsibility for its pension fund to the commonwealth’s Pension Reserves Investment Management board as initial steps toward terminating the MBTA Retirement Fund

Pioneer Institute Public Statement to the MBTA Fiscal and Management Control Board

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Earlier this week, Fox 25 News reported that Michael Mulhern,…

OpEd: Shine a light upon MBTA pension fund

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By Mary Z. Connaughton and Charles Chieppo Guest Columnists Originally…

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

Historical Market Performance of Asset Classes Held by Retirement…

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

Despite claims to the contrary, overly generous benefits, early…

MA Retirement Systems in Critical Condition, Fiscal Risks Remain High

Expert Testimony: Several Retirement Systems in Critical Condition,…

Have the MBTA’s Retirement Plans Gone Off the Rails?

Study Finds Lack of Transparency and Chronic Underfunding Among…

Introducing MassPensions.com – New Site Rates MA’s 100+ Pension Systems

User-Friendly Online Tool Provides Easily Accessible Data, Rates…

Worcester Telegram & Gazette: Pension speed limits needed

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Public retirement funds’ managers should embrace new reforms designed to minimize risk during this period of continued market volatility.

Improving the Bay State’s Public Pension Fund Investment Policies

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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.