July 2004

Kriss Says Public Workers Overpaid

JULY 2004
- Claims Salaries 20% Higher Than Private Sector - According to Governor Romney's favorite pit bull, Eric Kriss, public
employees in eastern Massachusetts earn 20 percent more than their
counterparts in the private sector.

Disability Vets Scheduled For Bonus

JULY 2004 - A bill, that rightfully should have been passed years ago, is on the doorsteps of becoming law.

Health Care Changes Eyed In Budget

JULY 2004
- Senate Targets Drug Prices - It will come as no surprise to members that state Legislative Leaders
are considering several proposals, which if passed, would change the
way prescription drugs are purchased for thousands of retirees, who are
insured under the state's Group Insurance Commission.

New Definition Of "Veteran"

JULY 2004
- Opens Door For All Who Served - All men and women, who have served in the armed forces of the United
States for at least 180 days, will now be classified as veterans,
regardless of when they served.

State's Deferred Comp Among The Nation's Largest Public Plans

JULY 2004
- ING Continues To Service Members - With over $2.9 billion in assets, the Commonwealth's Deferred
Compensation Program ranks as the sixth largest public deferred
compensation ("457") plan in the country. Established some 29 years
ago, the Mass. 457 program offers to state workers, and local employees
from the 250+ municipalities and subdivisions that participate in the
state program, a voluntary retirement plan in addition to our public
pension (Chapter 32) system.

State's Deferred Comp Among The Nation's Largest Public Plans

JULY 2004
- ING Continues To Service Members - With over $2.9 billion in assets, the Commonwealth's Deferred
Compensation Program ranks as the sixth largest public deferred
compensation ("457") plan in the country. Established some 29 years
ago, the Mass. 457 program offers to state workers, and local employees
from the 250+ municipalities and subdivisions that participate in the
state program, a voluntary retirement plan in addition to our public
pension (Chapter 32) system.

3% COLA OK'D

JULY 2004 - Base Alternative On Horizon - A 3% July COLA for state and teacher retirees is now assured.

State Board Member Dies

JULY 2004
- Bob Cawley Held Elected Seat - Bob Cawley, an elected member of the State Retirement Board, died on
April 30 at Brigham and Women's Hospital after a battle with cancer. He
was 69.

Shaw's WEP Compromise Falls

JULY 2004
-
Short Of Needed Relief - As a result of the mounting pressure to take action on the GPO and
WEP, the Chairman of the House Subcommittee on Social Security, E. Clay
Shaw (R-FL) has proposed a compromise of sorts. Under the plan put
forth by Shaw in mid-May, the House would repeal the WEP and replace it
with a new means of calculating Social Security benefits.

Retirees Keep Pressure On Congress

JULY 2004
- Mass. Delegation On Board - Members from all corners of the country have received the message put
forth by Association President Ralph White - to keep the pressure on
your local Congressman to repeal both the Government Pension Offset
(GPO) and the Windfall Elimination Provision (WEP).