Issues

ASSOCIATION PEC DESIGNEES ATTEND MUNICIPAL HEALTH FORUM

ASSOCIATION PEC DESIGNEES ATTEND MUNICIPAL HEALTH FORUM

Focus On New Municipal Insurance Law

FEBRUARY 14, 2012: Association members were among the over 200 attendees at a recent forum on the new Municipal Health Insurance (MHI) law, that was held at Boston Fire Local 718’s Florian Hall in Dorchester. They gathered together as the retiree designees on the Public Employee Committee (PEC) for their community or school district.

Annual Insurance Hearing Draws Retirees

Annual Insurance Hearing Draws Retirees

FEBRUARY 1, 2012: Over 100 employees and retirees attended today’s annual public hearing of the Commonwealth’s Group Insurance Commission (GIC) held in Minihan Hall at the Lindemann Center.

Dolores Mitchell, Executive Director of the GIC, presented an extensive update of all commission activities and an estimated projection of future needs and costs.

Mitchell started by pointing out that the Commonwealth could be under some pressure from the added costs of Federal health care reform.

Massachusetts Taxpayers Foundation says unfunded retiree health care liability is growing for towns and cities

SPRINGFIELD – This city has $761.6 million in unfunded liabilities for municipal retiree health benefits, which works out to more than $12,000 in unfunded liabilities per single-family home.

Holyoke has $300 million in unfunded liabilities, working out to about $18,000 in unfunded liability per single-family home, or about 59 percent of Holyoke’s median household income, according to a study recently released by the Massachusetts Taxpayers Foundation.

2011: DOWN YEAR FOR STATE PENSION FUND

JANUARY 25, 2012: Year 2011 was not a good year for the Commonwealth’s Pension Reserves Investment Trust (PRIT) Fund.

Data released at this month’s Pension Reserves Investment Management (PRIM) Board meeting show that the $47.4 billion fund barely creeped into the black with an earnings of 0.26 last year.

After strongly recovering from a disastrous Year 2008 when the Fund lost -29.50% of its value, followed by earnings of 17.06% in Year 2009 and 13.56% in Year 2010, the Fund was a victim of the worldwide market slump last year.

ESSEX BOARD NOW COMPLETE

ESSEX BOARD NOW COMPLETE

PERAC Approves Vincent Malgeri as 5th Member

JANUARY 23, 2012: Today, the Public Employee Retirement Administration Commission (PERAC) approved the fifth and final member of the Essex Regional (County) Retirement Board.

MASS. TAXPAYERS FOUNDATION: UNTIMELY ASSAULT ON MUNICIPAL HEALTH COSTS

MASS. TAXPAYERS FOUNDATION: UNTIMELY ASSAULT ON MUNICIPAL HEALTH COSTS

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.

Huge retirement shortfall in cities reported

Group is alarmed by benefit funding

By Travis Andersen
Globe Staff  
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.

ACTION AT THE TEACHERS’ BOARD

ACTION AT THE TEACHERS’ BOARD

2 New Members and a 3rd Scheduled

UPDATED: JANUARY 13, 2012: There’s been action aplenty over the past two months at the seven-member Teachers’ Retirement Board.

A December election has seen incumbent Karen Mitchell top a five candidate field in winning a second four-year term on the Board.

Finishing second and also winning a four-year term on the Board was Dennis Naughton, a retired 38-year Millis teacher.

KERRY FILES WEP/GPO REPEAL BILL

KERRY FILES WEP/GPO REPEAL BILL

Takes Lead In Senate With Maine’s Collins

JANUARY 10, 2012: Massachusetts Senator John Kerry has filed legislation calling for the full repeal of the dreaded Social Security Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). S2010, cosponsored by Republican Susan Collins of Maine, places Kerry in a leading role on the issue of Social Security fairness.

New Studies Target Retirees

Association Appointed To Commissions

JANUARY 2012: Anyone hoping that the recently passed “Pension Reform III” (Chapter 176) would mark the end, at least for the foreseeable future, of further changes in pension and health insurance benefits will be sorely disappointed. Contained within the final pages of the new law is the establishment of four separate studies or commissions – all aimed at making greater changes to pension and health insurance benefits.