From the Media

Pension Fund Rebound Continued In First Quarter

May 2, 2023: After a prolonged market selloff in 2022, the nearly $95 billion state pension fund has recorded back-to-back quarterly gains. In 2022, the fund was down 11.2 percent, but it is clawing back some gains. "The PRIT Fund is rebounding strongly," executive director and chief investment officer Michael Trotsky said Tuesday morning.

Fixing Social Security involves hard choices

APRIL 8, 2023: CNN  — There’s a reason why politicians have long shied away from addressing Social Security’s massive financial problems. The commonly proposed solutions involve cutting benefits or raising taxes, which would spark an outcry from a range of powerful constituents, including senior citizens and the business community.

How Not to Panic About Social Security

How Not to Panic About Social Security

By Paul Krugman

New York Times Opinion Columnist

“The days of our years are threescore and ten,” says Psalm 90 in the King James Bible. So right now I’m about to [keels over].

Why Medicare and Social Security Are Sustainable

Why Medicare and Social Security Are Sustainable

By Paul Krugman, New York Times

A big life, all too brief

A big life, all too brief

This week, we said goodbye to our friend and colleague Chris Condon. In addition to his work with SEIU Local 509, Chris previously served as a member of the State Retirement Board. He was not only dedicated to public service, but worked tirelessly and selflessly to better the lives of others. The positive impact his work had on others, including public retirees, is immeasurable.

We would like to share the following tribute to Chris, by Globe Columnist Yvonne Abraham.

Yes, Social Security and Medicare still need to be reformed — and soon

Yes, Social Security and Medicare still need to be reformed — and soon

February 6, 2023: Washington Post Editorial

Senate Passes Landmark Bill to Cut Prescription Drug Prices

Senate Passes Landmark Bill to Cut Prescription Drug Prices

The U.S. Senate passed a historic budget bill on Aug. 7 that would help millions of Medicare enrollees better afford their life-sustaining medications and help millions more Americans pay their Affordable Care Act (ACA) health insurance premiums. The measure must now be approved by the House of Representatives before going to the president's desk.

As the Red Cross moves to a pricey blood treatment method, hospitals call for more choice

Americans generally don’t spend much time thinking about the nation’s blood 

BY JULIE APPLEBY AND KAISER HEALTH NEWS

Pension Fund Gains Added $70 Billion Over 10 Years

Pension Fund Gains Added $70 Billion Over 10 Years

February 17, 2022: The state's pension fund has gained $70.6 billion over the past decade, exceeding its targets by $12 billion after posting the fourth largest annual gain in its history in 2021, fund managers reported on Thursday. Pension Reserve Investment Management Executive Director Michael Trotsky has previously shared that the fund, which pays retirement benefits to state employees and teachers, grew by 20.1 percent after fees in 2021, for a gain of $17.4 billion, and closed the year at a record high $104.3 billion.

PEABODY FIREFIGHTER HONORED POSTHUMOUSLY

PEABODY FIREFIGHTER HONORED POSTHUMOUSLY

BY ANNE MARIE TOBIN, Lynn Item

NOVEMBER 19, 2021: PEABODY — There were plenty of smiles to go around Wednesday morning at the Fire Department headquarters on Lowell Street as Joseph P. DiFranco, one of Peabody’s most beloved and respected firefighters, was honored posthumously with the Professional Fire Fighters of Massachusetts (PFFM) Joseph J. Cantalupa Lifetime Service Award. 

DiFranco’s wife, Marie, accepted the award on behalf of “Big Joe” from PFFM President Richard MacKinnon Jr.