For Carolyn Ryan, an assistant director of policy and research for the Massachusetts Taxpayers Foundation, the reason for the difference is simple. "Leominster's (pension system) has been well managed," said Ryan.
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.