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NEW CONTENT MOVED TO MIDDLEBORO REVIEW 2

Toyota

Since the Dilly, Dally, Delay & Stall Law Firms are adding their billable hours, the Toyota U.S.A. and Route 44 Toyota posts have been separated here:

Route 44 Toyota Sold Me A Lemon



Showing posts with label Massachusetts Pensions. Show all posts
Showing posts with label Massachusetts Pensions. Show all posts

Wednesday, September 7, 2016

State Sen. Marc Pacheco accurately calls it SILLY SEASON!



Typical uninformed candidate Sandra Wright {R] raises the issue of PENSION and has no comprehension  of the issue? 

Wouldn't it make greater sense to INFORM yourself before raising the issue?

Do Republicans ever THINK? 

Rather than spraying MUD AT A WALL, how 'bout let's stick to issues? 




The Taunton Daily Gazette is to be faulted as well for such mindless drivel. 



Republican rival slams State Sen. Marc Pacheco for  applying for Bridgewtater State post



TAUNTON - A Republican rival is questioning State Sen. Marc Pacheco’s commitment to his job in light of the fact he was in the running for a high-level post at Bridgewater State University earlier this year.
“I think he’s been in office too long and his heart’s not in it anymore,” said Sandra Wright, who is running in the GOP primary Sept. 8 for the state senate seat held by Pacheco.
But the Taunton Democrat said that is far from the case.
He said he’s gotten a lot done in his 24 years in the Senate and that wouldn’t have been possible without passion and dedication.
“I fight every day for the citizens of the First Plymouth and Bristol district, for jobs and improvement in the economy and education,” Pacheco said.
Neither Pacheco nor Wright has a primary opponent.
Pacheco was one of four finalists this spring for the position of vice president of external affairs at BSU. The vacancy was created when the incumbent Fred Clark was named president of the university last year.
The finalists were on campus for interviews in early spring. Later in the spring, they were notified the hiring process was “put on hold as a result of budgetary constraints, as have several other open positions at the university,” BSU spokesperson Eva Gaffney said.
“That remains the status and there is no deadline to fill this position,” Gaffney said.
Pacheco said he applied for the post last October before the May 3 deadline to file nomination papers to run for re-election because he thought the BSU position was at least “worth exploring.”
But then BSU placed it on hold, also before the May 3 deadline, so it became a moot point, and he made the decision to run for re-election, he said.
“A very unique opportunity came available at Bridgewater which I applied for because I thought my skill set could be a significant help to the university and I could continue to serve Southeastern Massachusetts,” Pacheco said.
Pacheco said the vice president of external affairs has a lot of interactions with state and federal regulatory agencies and needs to be familiar with the legislative process and public policy issues.
The other three finalists were Thomas Calter, a state representative from Kingston; Thomas Sannicandro, a state representative from Ashland; and Mark Sylvia of Fairhaven, the managing director of BlueWave Capital, LLC, according to Gaffney.
The salary for the position would have been comparable to other vice presidents at BSU, in the $150,000 to $160,000 range, Gaffney said.
Pacheco currently earns in the $80,000 to $90,000 range, including stipends for committee assignments, he said.
“For the last 10 years he’s been looking for another position,” Wright said.
In a press release last week, Wright questioned whether Pacheco was looking “for a pension bump via another state job” when he applied for the BSU post.
To be eligible for a state pension, a person must have a minimum of 10 years service. The pension is then based on the three highest salary years, Pacheco said.
He said anyone who ultimately fills the BSU post would be eligible for those same benefits.
And, he said, Wright would also be in line for a big pension increase if she were to become state senator and retain the job for long enough.
Wright, who has been a Plymouth County Commissioner since 2010, earns $14,000 a year for that post and those years count toward the 10 years of service, she acknowledged in a telephone interview last week.
She is also a Bridgewater town councilor, an unpaid part-time position, and was a Bridgewater Board of Health member for several years, also an unpaid, part-time post, but she said she does not believe those positions would count toward the 10 years service.
A spokesperson for the Massachusetts Retirement Board did not immediately respond in time for the Taunton Daily Gazette’s deadline Monday as to how the years of service are calculated.
Wright said the two situations are not comparable because Pacheco would be getting a pension increase going to what she considers a less demanding job, whereas she would be taking on a full-time position.
Wright previously worked as a medical assistant and is currently a self-employed energy broker.
Pacheco said opponents have been using the “talking point” that he’s planning to take another position for years.
“But I’m still here working for the people of Southeastern Massachusetts,” he said.
Wright asked what happens next if the BSU job opens up again.
“Will he commit to serve the entire term and promise not to take another state job?” she asked.
But Pacheco said he makes a point of not responding to hypothetical scenarios without knowing how the job would be posted, when or even if it will be.
“It’s around Labor Day, so we’re now entering what I like to call the silly season where people will say almost anything to get some attention and put the focus on their campaigns,” he said.
Clark’s Chief of Staff Deniz Zeynep Leuenberger, who had been serving in an acting role as vice president for external affairs for the past year, was appointed interim vice president within the past few weeks.
In both capacities, she has performed those duties without additional compensation, Gaffney said.

Thursday, November 3, 2011

Beacon Hill: Why?

Phew!

Beacon Hill, obsessed with Gambling Lobbyists, backroom deals and unspoken promises, ignoring scandals, indictments cronyism and public cynicism has finally noticed that there just might be things....you know....the People's business that needs to be conducted.

Who woke them up? What forced them to hear a public outcry when they couldn't even pass an expanded BOTTLE BILL because leadership is too invested in special interests?


House passes pension bill, upping the minimum retirement age, but stopping short of Senate’s changes
By Stephanie Ebbert, Globe Staff


The state House of Representatives today unanimously approved a plan to tighten the state’s pension provisions and raise the age that lawmakers and public employees are eligible for retirement. The move follows passage of a similar plan by the Senate earlier this fall. Both plans would only affect future hires, not current employees or retirees.

The House version passed today would boost the retirement age from 55 to 57 and could ultimately save $6.4 billion over 30 years, House lawmakers estimate. The Senate version went farther, raising the minimum age for retirement to 60.
[How about eliminating pensions and contributing to Social Security, just like the common folks, the taxpayers?]

The Legislature is looking to change the public employee pension system to shrink an estimated $20 billion unfunded liability and to protect the fund for future years.

The bill comes two years after state leaders eliminated loop holes in the state’s pension system, a first step in controlling costs.

Among the perks that were ended in 2009 were a “one day, one year” provision that allowed elected officials to boost their pension by an entire year of service, even if they only worked one day in a calendar year. It also eliminated lawmakers’ practice of collecting a “termination allowance” if they failed to win reelection.

Earlier this week, a House committee passed a version of the bill that included language exempting anyone who was vested in the system before the 2009 law took effect.

But the final bill that passed by the House last night contained no such language.

Rep. John W. Scibak, a South Hadley Democrat who chairs the Joint Committee on Public Service and championed the pension bill, said the stricken language was not an attempt to undo the 2009 reforms.

“This bill is much stronger than what we did a couple years ago,” said Scibak. “I don’t think we should be distracted by the procedural process.”

Neither Scibak nor Seth Gitell, a spokesman for the House Speaker Robert A. DeLeo, would say why that language was inserted in the committee’s version but not the final version.

Even after the language was removed from the bill, Scibak filed an amendment that would have allowed elected officials with six years’ service by 2009 to be considered fully vested – even though they do not satisfy the new, 10-year minimum, required by the 2009 law. That amendment was not taken up today.

A separate amendment that did pass calls for employees who shift positions late in their careers to work for at least a year before becoming eligible for a larger pension. The provision appeared to take aim at an attempt by a former Weymouth mayor to boost his pension after he briefly filled in as fire chief just before retiring.

House and Senate lawmakers must now rectify the differences in the two bills.


Did you forget that it was after this? ---


Bill would allow nonprofits into state retirement savings plan.
By Michael Norton
State House News Service

BOSTON — The House on Wednesday voted 143-7 to approve a bill allowing non-profit entities, which represent about 14 percent of the state’s workforce, to access retirement savings plans managed by the state Treasury.

Treasurer Steven Grossman said the legislation, if passed into law, would open up retirement savings options for many smaller non-profit employers currently unable to afford the cost of setting up savings plans. Grossman said the Treasury was not aware of any other state that offers a similar option. [That means Massachusetts taxpayers should absorb the costs why?]

The Treasury currently oversees a deferred compensation plan for about 300,000 people and that plan has close to $5 billion in assets. Grossman said the added costs of administering the plan in a segregated fund for non-profits would be “tiny” given the infrastructure already in place to manage $5 billion in assets.

Which means the costs are what? Tiny? Means what?

“I’m very much hoping that this will move quickly through the Senate,” said Grossman, identifying Sen. Jack Hart (D-South Boston) as the bill’s chief proponent in that branch. [Senator Hart testified in 2010 about how wonderful slot barns were as long as they were some where, any where, far away, in places like...well....maybe Middleboro....or maybe that other town in western Massachusetts whose name he couldn't remember...ah! The best and the brightest!]

The bill (H 3754) was approved with no debate and after Reps. Garrett Bradley (D-Hingham) and James Cantwell (D-Marshfield) spoke in favor of the proposal.

Bradley said the bill (H 3754) would make available new pre-tax retirement savings opportunities for employers that lack the cash overhead to set up retirement plans. "No state money is involved," he said.

The bill requires the treasurer to obtain approval from the Internal Revenue Service for the plan and to ensure that the plan complies with the federal Employee Retirement Income Security Act of 1974.

“We have a strong sense that this will be viewed positively by the I.R.S.,” he said.

The bill contains language ensuring public bidding on plan management, Grossman said.

Asked his advice for employees who don’t work for non-profits and whose employers do not offer retirement savings plans, Grossman said that’s a public policy matter worth further consideration.

“There are huge gaps out there,” Grossman said. “That’s a conversation for another day. I certainly am cognizant of the financial insecurity that many people feel while approaching retirement.”

Grossman’s predecessor, Tim Cahill, pressed for a similar bill in 2009. At the time, Massachusetts Nonprofit Network officials said less than one in five non-profit employees had a retirement plan and the a lack of retirement and other benefits at non-profits hindered their ability to recruit top workers.

Tuesday, May 12, 2009

Pension Reform Quote of the Week

Regarding pressure exerted on Treasurer Cahill in 2004 to cease pension reform -


"We tried to get him to see the wisdom," Mariano said. "We just laid out our position, saying to him, you have a lot of big salaries over here and the legislators who are only making $50,000 or $60,000 a year need those benefits." BostonGlobe

Saturday, May 24, 2008

Massachusetts State Budget & Local Impact

The following are commentary regarding the recently passed state budget bill (MBPC offers a details comparison and analysis):


Senate bill would boost COLA base 33%
Friday, May 23 2008


The state budget bill passed by the Senate contains a costly provision that would increase the base for cost-of-living-adjustments (COLAs) for municipal retirees by 33 percent, from $12,000 to $16,000.

The provision would dramatically increase costs for cities and towns, without a new revenue stream to pay for it.

The MMA has noted three major problems with the COLA increase:

• The increase would add an estimated $2 billion or more to municipal unfunded pension liability – an increase that cities and towns have no ability to pay given the limits of Proposition 2½.

• Advocates for the increase have said that it will not affect the bottom line for communities if they simply extend their funding schedule by three years, but doing so would only multiply the cost. The Pioneer Institute estimates that extending the state’s schedule by three years would multiply the state’s cost from $2.8 billion to $8 billion.

• The acceptance language is flawed. It does not include the municipal executive in the decision to accept for the 85 cities and towns that have their own pension systems. And it does not include the municipal legislative or executive authority for the 266 communities in county and regional retirement systems.

The MMA will continue to voice its strong opposition to the COLA proposal with the House-Senate budget conference committee, calling instead for an independent comprehensive study of the entire pension system.

By MMA Legislative Director David Baier MMA
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The battle to curb public pensions
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IT'S ONE STEP forward, two steps back in the battle to bring pensions and other public employee retirement benefits under control in Massachusetts.
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Beginning in January, MBTA retirees under 65 will contribute 15 percent toward the cost of their health insurance. Most T employees can retire with generous benefits after 23 years. Until now, those benefits included free healthcare for life. Not a bad deal, especially when you can retire in your 40s. TheBostonGlobe
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Budget Monitor: The FY 2009 Senate Ways and Means Budget
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The budget proposed by the Senate Committee on Ways and Means is closer to being structurally balanced than were the proposals by the Governor and the House. The Senate Ways and Means proposal would spend less than the Governor’s proposal and more than $150.0 million less than the final House budget.
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This Budget Monitor examines the SWM budget by program area and describes how the spending levels compare to those proposed by the House and the Governor and to historic and current spending levels. It also reviews the tax proposals whose revenue is incorporated in the Senate budget. MBPC