March 2013

Retiree Healthcare Takes Center Stage

Commission Issues Final Report

MARCH 2013 VOICE: After more than ten months of meetings, research and intense negotiations, the Special Commission on Retiree Healthcare has completed its work. The result is a report containing a series of recommendations that will likely impact both state and local retiree healthcare benefits in the future.

Pension Fund Reaches $50 Billion Mark

Continues Climb From '08 Disaster

MARCH 2013 VOICE: A strong investment earnings last year, 2012, of 13.82%, has pushed the Commonwealth’s Pension Reserves Investment Trust (PRIT) Fund’s value over the $50 billion mark for the first time since 2007, when its peak value was $53.7 billion.

The recovery since Year 2008, a disasterous market year’s loss of -29.5 billion, which plunged the fund’s value to $37.8 billion has been a steady process with three of the past four years showing double-digit returns bringing the new value to $51.97 billion.

2013-2014 Legislative Session Begins

Association Files 15 Bills

MARCH 2013 VOICE: With the start of the new Legislative Session, the Association is advocating for the passage of its 15-bill legislative package. The package aims to improve pension and health insurance benefits for retirees and survivors.

State law requires each bill to be sponsored and filed by a legislator. The Association’s legislative team has opted to seek out sponsors who have an understanding of public retirement and have a history of championing the issues important to our members.