State GIC

Articles about the State GIC that may be useful to Massachusetts retirees

GOVERNOR FILES HEALTHCARE REFORM BILL

H59 Includes Key Retiree Protections

FEBRUARY 16, 2013: This week, Governor Deval Patrick filed a legislative proposal that would significantly change healthcare benefits for future retirees, while grandfathering and protecting current retiree benefits from knee-jerk changes in contribution percentage rates.

GOVERNOR PROPOSES 3% STATE & TEACHER COLA

Budget Also Includes Full GIC Funding

JANUARY 24, 2013: Governor Deval Patrick proposed a full 3% COLA increase for eligible state and teacher retirees within his FY 2014 budget proposal filed on Wednesday. In November 2011, the state increased the COLA base for state and teacher retirees to $13,000.

COLA's for municipal and county retirees are the responsibility of local retirement systems. At this time, a number of local systems have begun discussions to approve a 3% COLA for their retirees come July 1.

GOVERNOR TO FILE FY14 BUDGET WEDNESDAY

GOVERNOR TO FILE FY14 BUDGET WEDNESDAY

Retiree Healthcare Bill Not Included

JANUARY 22, 2013: When Governor Deval Patrick files his FY 14 Budget proposal on Wednesday, it is not expected to contain legislation to reform retiree healthcare. Observers now anticipate a stand-alone bill to be filed in late January or early February that mirrors the report filed by the Special Commission on Retiree Healthcare, issued in December.

State retiree health system needs major reforms

Boston Globe Editorial
January 16, 2013

PATRICK ENDORSES RETIREE HEALTH COMMISSION REPORT

PATRICK ENDORSES RETIREE HEALTH COMMISSION REPORT

Exempts Current Retirees And Includes Strong Retiree Protections

JANUARY 11, 2013:  Governor Deval Patrick has endorsed a report by the Special Commission on Retiree Healthcare that makes significant changes to public retiree healthcare benefits for future retirees, but not for current retirees. 

GOVERNOR PATRICK ANNOUNCES PLANS TO FILE LEGISLATION TO REFORM RETIREE HEALTH INSURANCE BENEFITS

Reform Would Tackle Fiscal Challenges Head-On, Save As Much as $20 Billion over the Next 30 Years

BOSTON – Friday, January 11, 2013 – Governor Deval Patrick today announced plans to file legislation to reform health insurance benefits for retirees that would save as much as $20 billion for the Commonwealth and municipalities over the next 30 years.  Today’s announcement builds on the Governor’s record of reform and his Administration’s commitment to fiscal responsibility for the long-run.

PATRICK TO FEATURE PANEL’S RETIREE HEALTH CARE REFORMS IN BUDGET

By Matt Murphy
STATE HOUSE NEWS SERVICE

STATE HOUSE, BOSTON, DEC. 20, 2012….State and municipal employees would have to wait until they are older and put in more years of service to qualify for retirement health benefits under a proposal being embraced by the Patrick administration to cut future benefit costs by $20 billion over the next 30 years.

HEALTHCARE COMMISSION ENDORSES MASSIVE $15-$20 BILLION REFORM

Retiree Protections Include Contribution Rate “Freeze”

DECEMBER 20, 2012: Following nine months of lengthy meetings, detailed analysis and intense negotiations the Special Commission on Retiree Healthcare completed its work today with an 11-1 vote to endorse a proposal that, if passed into law, will save Massachusetts taxpayers at least $15-$20 billion over the next thirty years.

HEALTHCARE DEBATE HEATS UP AS REPORT DATE NEARS

Retirees & Labor Present Unified Front

DECEMBER 3, 2012: After more than eight months of meetings and analysis, the 12-member Special Commission on Retiree Healthcare is now in the process of drafting its report and finalizing its recommendations.