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ASSOCIATION TO HOLD ANNUAL MEETING

Tuesday At Randolph's Lantana

SEPTEMBER 1, 2010: The Association will hold its Annual Meeting this coming Tuesday, September 7 at 1:00 PM. Once again 2009_meeting.jpgthe meeting will be held at the Lantana on Rt. 28 in Randolph. Refreshments will be served prior to the meeting and door prizes will be drawn at the conclusion.

As always, members who attend will be among friends!

 
NEW STATE PENSION FUND BOSS NAMED

6-3 Vote on Compensation

AUGUST 3, 2010: The board of Massachusetts's $41.3 billion Pension Reserve Investment Trust (PRIT) Fund has unanimouslymichael-trotsky.jpg selected Michael Trotsky, currently the executive director of the Massachusetts Health Care Security Trust Fund, to head the fund's operations.

Trotsky will receive a $245,000 annual salary and be eligible for performance bonuses.

He will oversee the fund's investments and manage a staff that recommends investment options, which are executed largely by private firms hired by board. The fund carries retirement assets for 300,000 state employees and teachers, as well as 90 municipal and regional retirement systems.

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SOMERVILLE BOARD FAILS RETIREES

Also Leominster & Arlington

JULY 30, 2010: Despite the urging of Somerville Retirement Board member Jack Memory, that city's Retirement Board failed to take action on a 3% July COLA and, as a result, the retired members of the Somerville Retirement System, by "default,"  have lost this fiscal year's COLA.

"The Board never put a COLA vote on its agenda, never put it on the table. It's inexcusable," says Association President Ralph White. "It's too late now. The window of opportunity is gone."

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Current Voice
BUSY ELECTION YEAR AHEAD

Two Candidates Meet Members

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Bill Keating, Receives Retirees Endorsement For 10th Congressional District Seat
Association leaders combined a membership meeting with a political rally at a brunch at the Radisson Hotel in Plymouth on June 25th.

The political side of the gathering of 250 members was in recognition of our Association's endorsement of Bill Keating, candidate for U.S. Representative of the 10th Congressional District, and Steve Grossman candidate for Treasurer and Receiver General of Massachusetts.

In introducing Keating, currently the outgoing District Attorney of Norfolk County, Association President Ralph White pointed out that when

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Steve Grossman, Association's Pick for State Treasurer and Receiver General
Keating served as a state representative and senator from 1977 to 1998 he sponsored or co-sponsored a host of our Association's successful legislation.
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LEGISLATURE ACTS ON HIGHER COLA BASE

Local Option First, State/Teachers' To Follow

JULY 2010 VOICE: The House and Senate have each passed a provision, sponsored by our Association, that will allow for local retirement systems to increase the base to which the annual cost-of-living adjustment (COLA) is applied.

While both chambers agreed on a local option for increasing the COLA base, the Senate did not include the House language necessary to pay a 3% COLA to eligible state and teacher retirees, beginning July 1. As a result,  the COLA language remains an issue now before the conference committee that is attempting to iron out the differences between the House and Senate FYll budget proposals.

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SOCIAL SECURITY COALITION MEETS

Calls For Widespread Reform Grow

JULY 2010 VOICE: The Washington, DC-based Coalition to Assure Retirement Equity (CARE), of which the Associaton is a founding member, held a major summit in late March to discuss ongoing efforts to repeal  Social Security's Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).

More than a decade after the formation of CARE, membership has swelled to include a broad range of organizations from every corner of the country. Together, over 80 different groups have brought the WEP/GPO to the forefront of the national Social Security debate.

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LEGISLATURE MOVES TO AVERT QUAGMIRE OVER CLOTHING ALLOWANCE

JULY 2010 VOICE: Efforts are now underway to avert a quagmire from developing within the retirement community. We are referring to the potentially disastrous repercussions resulting from the recent court decision (O'Brien v. CRAB) that disallowed the inclusion of clothing allowances in calculating pensions.

Before the O'Brien decision, it was a long-recognized policy that those, who received a clothing allowance and made retirement contributions on it, would have those payments included in calculating their pensions. In fact, when the Legislature enacted pension reform last year (Chapter 21, Acts of 2009), it contained a provision that eliminated the clothing allowance from pension calculations no later than June 30, 2012, meaning that the clothing allowance would be used before then.

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Ralph White For forty two years the Retired State, County and Municipal Employees Association of Massachusetts has provided retired public employees their own voice on Beacon Hill.
 
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