Breaking News

KEY CONGRESSIONAL COMMITTEE SET

January 11, 2007 - Social Security Dominant Issue - New York Democrat Charles Rangel will head the powerful
House Committee on Ways and Means for the 110th Congress. Rangel,
who has represented Harlem for over thirty-years, is
known for his outspoken no nonsense style.

Bill Allowing Retirees Greater Earnings While Working In Public Sector Vetoed By Governor

December 26, 2006: In a surprise veto, Governor Mitt Romney rejected H263 and returned it to the Legislature on December 22. Romney's veto message said: "This legislation allows an individual under section 91 of chapter 32 of the General Laws, as appearing in the 2004 Official Edition, to earn $15,000 more than the salary of the position from which the person was retired or was terminated.

CLARIFYING OUR COLA BASE LEGISLATION: WHY $16,000

JAN 2007 - Members will note that we have again filed legislation for a higher base, currently $12,000, to which an annual 3% can be applied.

WELLESLEY FIRST BOARD TO VOTE ON JULY '07 THREE PERCENT COLA

JAN 2007 - Local government retirement boards have until July 1st to vote for a July 2007 COLA for their retirees and survivors. Most boards wait until sometime after the first of the year to vote on the July 1st COLA, a few even waiting until June to vote.

DOANE NAMED TO PENSION AGENCY


DECEMBER 11, 2006: Governor Mitt Romney has named Paul V. Doane of Harwich to a
seat on the Public Employee Retirement Administration Commission (PERAC).
Doane, who  was sworn in on December
11th, replaces Henry Brauer as the Governor's designee as an "investment
professional." His term will run until October 29, 2010. Doane served as a
Republican State Senator representing the Cape and
the Islands District from 1981 until 1988 when he did not seek reelection. He
was director of the PRIM Board from May 1991 until October 1993. He is
currently a Senior Vice President with Oppenheimer Capital. Our Association
welcomes Paul Doane as a Commissioner of PERAC. He is a fair-minded individual
with a deep respect for those who work in the public sector and retirees.

Middlesex Election

November 22, 2006: Larry
Driscoll, a nine-term elected member of the Middlesex Retirement Board has
resigned. There are two years remaining on his latest three-year term. An
election has been scheduled for the unexpired term. Nomination papers are
available from November 27 to December 8. Nomination papers require five (5)
signatures and must be filed by 4 p.m., December 12.

 

Ballots will be mailed on or about January 7, 2007. Ballots must
be returned by January 22 and will be counted on January 30.

LOCAL COLA: WELLESLEY FIRST TO VOTE

NOVEMBER 20, 2006:
Wellesley’s Retirement Board was
the first of our 102 local retirement boards to vote for a July 2007 3% pension
COLA for its members. The vote came at the Board’s October 25 meeting. The
Newton Retirement Board is scheduled to vote on a 3% July 2007 COLA at a
December 3 meeting.

ROMNEY TAKES PARTING SHOT

NOVEMBER 13, 2006: In what can only be seen as a
backhanded parting shot aimed at political opponents, Governor Mitt Romney has
unilaterally cut approximately $32 million from the budget of the state’s Group
Insurance Commission (GIC).

MUNICIPAL HEALTHCARE TRUST FUND BILL ADVANCES

OCTOBER 17, 2006: The House Committee on Ways and Means
has taken a significant step forward in addressing the new accounting standards
that require municipalities, as well as the state, to disclose the future
healthcare costs for their retirees. It has reported out favorably H4887, which
would allow communities to prefund these costs.

PUSH UNDERWAY TO FORCE FLOOR VOTE ON WEP/GPO REPEAL

September 15, 2006 (Washington, D.C.):  Texas Congressman Lloyd Doggett has
introduced a resolution (H.RES. 987) to discharge the WEP/GPO Repeal bill (H.R.
147) from the Social Security Subcommittee and have it go to the floor of the
House of Representatives for a vote. Like Massachusetts,
Texas is one of the states whose
public retirees are being hurt by the WEP (Windfall Elimination Provision) and
the GPO (Government Pension Offset).