Articles about Politics that may be useful to Massachusetts retirees.
Boston Globe Editorial, June 24, 2012:
MAY 23, 2012: A series of articles by the Boston Globe’s Brian McGrory highlighted the excessive salary and perks of Edmund "Ted" Kelly, former CEO of Liberty Mutual here in Massachusetts.
Aside from his multi-million dollar salary, Kelly was a close friend of Liberty Mutual’s Board of Directors, millionaires themselves, who OK’d Kelly’s $50 million salary/compensation package. They each received an annual $200,000 in director’s pay.
Theresa McGoldrick, without opposition, has been re-elected to a 4th three-year term on the State Retirement Board.
McGoldrick serves as one of the State Board’s two elected members along with Ralph White. State Treasurer Steve Grossman is the Board’s chairman, retiree Pat Deal is an appointed member and SEIU Local 509 Political Director, Chris Condon the fifth member is elected by the other Board members. Nick Favorito is the Board’s Director.
JANUARY 13, 2012: Yesterday, January 12th the Mass. Taxpayers Foundation (MTF) under its ubiquitous leader Michael Widmer unleashed an untimely attack on municipal health insurance costs.
A brief summary of the report was included in today’s Boston Globe, including a response by Shawn Duhamel, Legislative Liaison of our Association and Ed Kelly, President of the Professional Firefighters Union.
Group is alarmed by benefit funding
By Travis Andersen
January 13, 2012
A Beacon Hill watchdog group has released a report indicating that steep cuts to education and other public services are inevitable in 10 of the state’s most cash-strapped cities to fund the rising cost of health care for their municipal retirees, unless the Legislature makes changes.
State aid cuts, lack of growth are cited
December 7 2011: Cash-strapped cities and towns across Massachusetts are struggling with the worst stress on their budgets since passage of Proposition 2 1/2 in 1980, according to a new report from the Massachusetts Taxpayers Foundation.
Chapter 176 Marks Sweeping Change
NOVEMBER 21, 2011: As expected, late last Friday, November 18, Governor Deval Patrick signed Pension Reform III into law as Chapter 176, Acts of 2011.
The measure, which had been enacted in the House and Senate three days earlier, creates a new retirement plan for new employees of our 105 retirement systems, hired on or after next April 2nd.
PROVIDENCE - Despite jeers and the threat of a union lawsuit, Rhode Island lawmakers approved extensive changes yesterday to one of the nation’s most underfunded public pension systems.
The state’s heavily Democratic General Assembly defied its traditional union allies to pass the landmark changes.
Effective For New Hires Beginning Next April
NOVEMBER 15, 2011: Pension Reform III (S2065) is now on the verge of becoming law. By a vote of 27-10 in the Senate and 152-0 in the House, today the Legislature enacted a change in the Commonwealth’s public retirement law that will place new employees in a “second tier” retirement plan.
Effective next April 2, all new hires within our state’s 105 retirement systems will close the door on early retirement and require most workers to stay in the system until age 67 in order to reach a full pension.
BOSTON—The Massachusetts Legislature has approved an overhaul of the state's pension system that would raise the minimum retirement age for future state employees to 60.
The compromise bill was accepted Tuesday by the Senate on a 27-10 vote and later on a 149-0 vote in the House.