Don't add to pension problem by upping cost-of-living raises

Boston Globe Editorial

MASSACHUSETTS NEEDS another round of public-pension reforms. Though Beacon Hill has made progress in curbing the worst abuses of the system, public-pension systems still have billions of dollars more in liabilities than they have money to pay for them. Bond rating agencies have made it clear that unless Beacon Hill comes to grips with the problem, the Commonwealth's ability to borrow money will suffer. And while the bill that cleared the Senate Thursday will help in several important ways, it also exacerbates the problem in others.

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