Politics

Articles about Politics that may be useful to Massachusetts retirees.

Pace Continues To Serve On Lynn Board

MARCH 2004
- PERAC Overrules Mayor - Two weeks after Lynn Mayor Edward J. Clancy, Jr. removed City
Comptroller John Pace from his membership on the Lynn Retirement Board,
the Public Employee Retirement Administration Commission (PERAC)
ordered that Pace must be returned to his seat on the Board.

Pension Budget At $1.2 Billion

MARCH 2004
- Full Funding Remains at 2023 - Legislative leaders and Romney Administration officials have agreed
to adopt a new pension funding schedule that reduces the scheduled
budget appropriation, while staying on track to fully fund the State
and Teachers' Retirement Systems by 2023.

Middlesex Board Under Attack

MARCH 2004
- Power Play By Town Managers - A small cadre of town managers within the Middlesex Retirement System
are attempting to abolish the current Middlesex Retirement Board and
replace it with a new board of their own design.

Romney Budget Hits Retirees

MARCH 2004
- Derails COLA Base Increases - Governor Mitt Romney's long-awaited budget proposal for the coming
fiscal year (FY05) contains language that would stand in the way of the
Association's goal of raising the base to which the pension
cost-of-living adjustment (COLA) is applied.

Lussier Heads To Washington

MAY 2003 - Modernized Teachers’ Retirement Board - With
the resignation of Teachers’ Retirement Board Director Tom Lussier, the
unprecedented exodus of the leaders of the Commonwealth’s three largest
retirement boards has been completed.

Joan Schloss Heads Teachers

MAY 2003
- Trustees Reach Within For Choice - At a meeting one month after Tom Lussier announced his resignation,
the Teachers’ Retirement Board members picked Joan Schloss to be the
Board’s new director.

Cawley Wins State Board Election

MAY 2003
- Torch Passed From Angelo Amato - Bob Cawley of West Roxbury has won a three-year term as an elected
member on the State Retirement Board. The seat Cawley takes over had
been held by Angelo Amato for thirty-three years. Ralph White holds the
other elected seat.

Layoffs Certain In Cites And Towns

MARCH 2003
- Governor Files New Municipal Early-Out - Even though an estimated 2,300 employees of local governments within
our state retired under early retirement incentive (ERI) programs last
year, it quickly became apparent that another such option was needed
again this year.

State Layoffs Continue Despite

MARCH 2003
- Last Year’s Early-Out Offer - A total of 4,575 state employees accepted the Commonwealth’s early
retirement incentive plan in 2002, well short of the hoped for 7,000
retirements.

Budget Nightmare Hits Home

MARCH 2003
- Retirees Weather Multi-Billion Dollar Deficit - In what is being described as the worst fiscal emergency since the
Great Depression of the 1930s, state officials are trying to cope with
a huge multi-million dollar deficit for the current fiscal year, while
bracing for what could amount to a $2-3 billion deficit next year.Over
the course of the last 18 months, state officials have been able to
balance the books by tapping nearly $2 billion from reserve accounts,
raising just over $1.1 billion in new taxes, and dramatically cutting
many state programs. Among those programs either cut or altered is the
elimination of the retirees’ 2003 Medicare Part B refund ($28.8
million), along with the extension of the Commonwealth’s pension
funding schedule ($100 million).