Issues

What about the WEP?

What about the WEP?

October 8, 2021

By, Shawn Duhamel

On Wednesday we went to press with the November edition of the Voice, which should begin to arrive in member’s mailboxes by end of the week of October 18th. In this edition we focus heavily on the pension cost-of-living -adjustment, making a strong case as to why our retirees deserve improved COLA benefits and how the retirement systems can fund the increase. The data and facts are clearly spelled out to help pass these improvements for the coming FY23.

Work progresses on Beacon Hill

Work progresses on Beacon Hill

October 1, 2021 Weekly Update: By Chief Executive Officer Shawn Duhamel

Before my brief hiatus in August, I reported to you that we anticipated a very busy fall. I’m happy to say that not only were we correct, but that things have been even busier than we would have thought. 

Benefit Check Delays Continue To Frustrate New Retirees

Benefit Check Delays Continue To Frustrate New Retirees

September 28, 2021: The "number-one problem" that Mass Retirees President Frank Valeri hears from his members is that it takes too long for newly retired public employees to collect their first monthly benefit check. Warning that the sizable gaps between a retirement date and a payment date put undue financial strain on workers at the end of their careers, Valeri urged lawmakers Tuesday to adopt reforms that guarantee delivery of at least partial checks by the due date. "These are the things that bother me," Valeri told the Public Service Committee.

President's Message: Share the Success!

September 2021 VoiceThere is no question that the tremendous investment success of the Commonwealth and local retirement systems should be celebrated. When modern pension funding schedules were implemented in the mid-1980s, no one could have envisioned the high level of asset gains that would come to fruition over the ensuing 36 years. 

AGGRESSIVE FUNDING & PROPER INVESTMENT MEET GOALS

September 2021 Voice: When the proper funding of our 104 public retirement systems began in 1985, the majority of Massachusetts systems were woefully underfunded. Back then the Commonwealth was the 2nd worst unfunded system in the country – second only to West Virginia! 

SOCIAL SECURITY WEP REFORM: LATEST DEVELOPMENTS

Coalition Building Drives Congressional Support

September 2021 Voice: A critical element to the work being done to pass legislation reforming the Social Security Windfall Elimination Provision (WEP) has been the construction of a true nationwide coalition of public retiree and active employee organizations, whose members are harmed by the WEP. 

LEGISLATIVE NEWS: PUBLIC SERVICE COMMITTEE HEARS ASSOCIATION BILLS

September 2021 Voice: We are eight months into the 2021-2022 legislative session, and the State House remains closed to the public. We are anticipating that this will continue into the fall and many of the functions of the legislature will remain virtual. This includes committee hearings, such as those by the all-important Joint Committee on Public Service.  

Baker Mandates Vaccination for Executive Branch State Workers

Baker Mandates Vaccination for Executive Branch State Workers

House, Senate Discussing Vaccine Requirements for Their Employees

Katie Lannan, State House News Service

AUG. 19, 2021: About 42,000 state employees will need to be fully vaccinated against COVID-19 or have secured a medical or religious exemption by Oct. 17, or face the risk of consequences including losing their jobs, under an executive order Gov. Charlie Baker signed Thursday.

Weekly Update: Latest Retirement News

Weekly Update: Latest Retirement News

By Shawn Duhamel, Chief Executive Officer

State Pension Fund Sets New Investment Return Record

State Pension Fund Sets New Investment Return Record

FY '21 Gains Neared 30 Percent, Pushed Fund to $95.7 Bil

Colin A. Young, State House News Service

AUG. 3, 2021.....Fiscal year 2021 was a record year for the Massachusetts state pension fund, which closed the one-year period ending June 30 with the highest return in its history and invested assets that swelled to a record $95.7 billion.