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pensions

American Citizenship, Opportunity
May 16, 2017

Op-ed: Neglect creates pension tsunami

A version of this op-ed appeared in The Berkshire Eagle, The Salem News, The Gloucester Times, the Patriot Ledger, The Brockton Enterprise, and The New Bedford Standard-Times. BOSTON — Moody’s Investors Service estimates that total U.S. state and local government pension unfunded...
American Citizenship, Opportunity
April 25, 2017

So you want to know something about pensions?

Now anyone can become a local pension system expert…  A stitch in time saves nine. But how much will the hole unravel before the seamstress gets the call? We all know procrastination is a bad habit, but it’s far worse if the...
American Citizenship, Opportunity
April 19, 2017

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

Local retirement systems generate heavy costs, larger fiduciary risks BOSTON – Massachusetts’s 102 local pension systems typically report administrative costs that are much higher than those of the Massachusetts State Employees’ Retirement System (MSERS), according to a new study published by Pioneer Institute....
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...
Opportunity, Transportation
February 2, 2016

Comparing Retirement Benefits for MBTA and other State Employees

Pioneer’s latest report, A $49 Million Sweetheart Deal: How MBTA Employee Unused Sick Perk Enhances Pensions, illustrates how MBTA employees are taking advantage of a 1975 arbitrator’s decision to reap substantial retirement benefits through their unused sick days. The report further illuminates...
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: 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
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
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...
Opportunity
June 27, 2014

Open Letter: Regarding Reform of the MBTA Retirement Fund

The past year has seen the MBTA Retirement Fund mired in scandals involving conflicts of interest, losses of taxpayer money and, to put it mildly, imprudent attitudes towards the general public and the public trust. A high-quality mass transit system is critical...