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Budget Struggles at Session Mid-Point
JANUARY 2010 VOICE: The 2009-2010 Massachusetts Legislative Session has reached the mid-point, with the Legislature set to complete formal business on July 30.
As the state's economy continues to suffer through the recession, Beacon Hill leaders struggle to plug gapping holes left in the Commonwealth's budget. Observers fear that there could be as much as a $1.5 billion structural deficit for the coming FY11 fiscal year.
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PENSION FUNDS STEADY RECOVERY UNDERWAY |
NOVEMBER 2009: After an unprecedented market upheaval in 2008 which saw most of our state's 106 public retirement funds lose twenty-five percent or more of their values, the recovery, which was slow earlier this year and gradual in our last report, can now be upgraded to steady and perhaps above average by the end of this year.
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STUDY COMMISSION CALLS FOR $18,000 COLA BASE |
Focus Now Turns To General CourtNOVEMBER 2009: As part of its much anticipated report, the Special Pension Study Commission calls for an improved cost-of-living adjustment (COLA) law. Specifically, it proposes that the maximum pension amount (base), on which the COLA is calculated, be raised from the current $12,000 to $18,000 in annual increments of $1,000, subject to available funding and local acceptance.
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WEP/GPO REFORM HINGE ON HEALTHCARE DEBATE |
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NOVEMBER 2009: For months the Association has been reporting that 2010 is the likely time period in which Social Security reform will be debated in Congress.
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the meeting will be held at the 
selected Michael Trotsky, currently the executive director of the Massachusetts Health Care Security Trust Fund, to head the fund's operations.
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.
