March 2012

PENSION FUND INVESTMENTS DOWN IN '11

MARCH 2012 VOICE: Year 2011 was not a good year for the $47.1 billion Commonwealth’s Pension Reserves Investment Trust (PRIT) Fund.

After strongly recovering from disastrous Year 2008, when the Fund lost -29.50% of its value, followed by earnings of 17.06% in Year 2009 and 13.56% in Year 2010, the Fund was a victim of the worldwide market slump last year. PRIT barely squeaked into the black with a return of 0.15%

KERRY FILLS SOCIAL SECURITY VOID

KERRY FILLS SOCIAL SECURITY VOID

Files Bipartisan WEP/GPO Repeal Bill

MARCH 2012 VOICE: For the thousands of retirees impacted by the Social Security Windfall Elimination Provision (WEP) or Government Pension Offset (GPO), calendar year 2011 ended in disappointment after the issues were, once again, not addressed by Congress.

PROGRESS ON LEGISLATIVE FRONT DESPITE LAGGING ECONOMY

Formal Session Ends July 30

MARCH 2012 VOICE: As the first half of the 2011-2012 Massachusetts legislative session drew to a close last November, members witnessed several of our Association’s legislative initiatives (bills) become law through the passage of Chapter 176 (Pension Reform III).