retirement

Public employee pensions contribute to national savings, representing 21 percent of retirement assets according to the Urban Institute. These pensions help public workers plan and live out retirement, especially the 97 percent of Massachusetts government employees who do not earn Social Security benefits through their current job.

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.

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.

If passed, a constitutional amendment to impose a graduated income tax would raid the retirement plans of Massachusetts residents by pushing their owners into higher tax brackets on the sales of homes and businesses, according to a new study published by Pioneer Institute. The study, entitled “The Graduated Income Tax Trap: A retirement tax on small business owners,” aims to help the public fully understand the impact of the proposed new tax.

This report finds that, if passed, a constitutional amendment to impose a graduated income tax would raid the retirement plans of Massachusetts residents by pushing their owners into higher tax brackets on the sales of homes and businesses. The study aims to help the public fully understand the impact of the proposed new tax. 

Pioneer Institute interns often visit government offices to obtain or confirm information we may use in a blog.  In this capacity, we made a trip to Boston’s City Hall to determine which retirement group Commissioner William Evans would fall into. Public retirees...

Quarter-century of data shows costs at up to six times valuation assumptions, suggests MBTARF financial picture was made to appear artificially rosy BOSTON – Data from valuation reports and other financial documents suggest that suspect actuarial practices may have helped misstate the...

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...

Every day, 10,000 Americans turn age 65. Adults over this age now make up more than 15 percent of the U.S. population, according to the Census Bureau – by 2029, this number will surpass 20 percent. Our 2017 Better Government Competition is...

Response commissioned by fund to whistleblower report dismissed or ignored red flags This report received press coverage in: The Boston Globe, The Boston Business Journal, and numerous radio and television outlets. BOSTON – The MBTA’s Fiscal and Management Control Board (FMCB) should...