Here at home, the Massachusetts Taxpayers Foundation reports that state and local governments in the Bay State have set aside only $63 billion — 43 percent — of the $146 billion needed to meet pension and health obligations for current and future retirees.
Carolyn Ryan, assistant director of policy and research at the Massachusetts Taxpayers Foundation, who reviewed the report, said it makes sense to require a waiting period before people qualify for a pension. “The Urban Institute gives us a demerit for our 10-year investing requirement. We disagree with that,’’ Ryan said.
A report this month from the Massachusetts Taxpayers Foundation, a business-oriented oversight group, underlines the severity of the problem across Massachusetts. Pension costs and health care for current and retired municipal employees continue to squeeze local budgets: Those costs grew 23 percent from 2007 to 2013.