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Politics
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.
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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.
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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.
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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.
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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).
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