From the Media

Leominster Retirement Board hit over pension-hike denial

By Jack Minch

LEOMINSTER -- A statewide association representing retired municipal employees is criticizing the city's Retirement Board for voting in July not to give retirees a cost-of-living pay increase in their pensions for the fifth straight year.

U.S. Public Pensions Show Biggest Investment Gain in Three Years

U.S. state and local-government pension investments gained the most in three years as stocks soared, according to a report to be released today by Wilshire Associates Inc.

Retirees Endorse Kerrigan in lieutenant governor's race

The Retired, State, County and Municipal Employees Association of Massachusetts announced its unanimous endorsement of Steve Kerrigan for lieutenant governor, noting that the former longtime aide to Sen. Ted Kennedy is the right person to help lead Massachusetts forward.

The endorsement comes on the heels of Kerrigan’s victory at the Massachusetts Democratic State Convention in June. The former Lancaster selectman won the most support among the four candidates for lieutenant governor.

Pension Deal Edges Detroit a Step Closer to Recovery

New York Times
April 16, 2014

Detroit’s pension boards and a retirees’ group say they have reached tentative agreements with the city that could serve as a breakthrough in its quest to settle with its major creditors and propel itself out of bankruptcy before the end of the year.

Winchester retiree health costs revisited

By Kathy McCabe
Globe Staff April 10, 2014

Winchester selectmen have scaled back a plan to make retirees pay half the cost of their health insurance premiums, a plan that ignited a backlash from retired town workers.

The Board of Selectmen now proposes increasing premiums to 30 percent for people who retired before 2004, and phasing in the plan over an 18-month period, starting July 1. Later retirees would still pay 50 percent of their premiums, but it would be phased in over two years, according to the proposal.

Obama to drop entitlement cuts from 2015 budget

By REID J. EPSTEIN and EDWARD-ISAAC DOVERE | 2/20/14 1:34 PM EST Updated: 2/21/14 5:36 AM EST

President Barack Obama is done pretending that he’ll get any new budget cooperation from House Republicans.

His proposed 2015 budget, due to be released next month, will stick to the economic strategy the White House has laid out without the compromise suggestion he floated last year, White House officials said Thursday.

Mass. pension fund posts 15.2% gain for ’13

Managers add $7.9 billion to accounts, with biggest increases coming from US stocks

By Beth Healy
Globe Staff  
January 22, 2014

The Massachusetts state pension fund posted a 15.2 percent investment gain for 2013, as strong markets helped the fund’s managers add $7.9 billion to the retirement accounts of public employees.

US stocks provided the biggest boost to the fund, climbing 33.7 percent during the year, followed by investments in private equity, which rose 21.1 percent.

What’s Next for Social Security?

New York Times
Editorial Board

The trustees of Social Security recently reported that the retirement system can pay full benefits until 2035, when it will be able to pay about three-fourths of promised benefits. That is not a crisis. It is a manageable problem.

Is Obamacare Too Complicated to Succeed?

The Affordable Care Act has been under siege since before it even had a name. Some on the right saw it as government overreach. Some on the left considered it better for insurance companies than for consumers. As many of the law’s provisions take effect over the next year, we’re hearing from both sides all over again. This time the theme is that the law is too complex.

A budget primer for White House budget week

By Josh Hicks
Washington Post
April 8, 2013