In The News: Pensions

Unfunded retirement benefits a 'time bomb' set to explode for Lowell-area communities [2]

in

May 7 2012

Unfunded retirement benefits a 'time bomb' set to explode for Lowell-area communities [7]

By Evan Lips, The Lowell Sun

According to a Massachusetts Taxpayers Foundation [8] study released in February 2011, Billerica ranks 36th statewide in total pension and post-employment benefits, or OPEB, provided to employees, adding up to $307.34 million. Reached last week, MTF President Michael Widmer said the totals are likely higher since towns only have to gather the information once every two years.

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How Retirement Benefits May Sink the States [10]

in

Health Care [4]
Pensions [1]

Apr 27 2012

How Retirement Benefits May Sink the States [11]

By Steven Malanga, The Wall Street Journal

Earlier this year, the Massachusetts Taxpayers Foundation examined unfunded retiree health-care liabilities in 10 midsize municipalities, including Worcester and Springfield, and found the debt averaged $13,685 per household. To pay those commitments over 30 years would require adding $565 a year to property tax bills on average, the group estimated. In one community, Lawrence, the tab was $1,209 annually, a 50% increase over current taxes.

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Provision lets Westford unions reopen contracts [13]

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Municipal [6]
Pensions [1]

Dec 19 2011

Provision lets Westford unions reopen contracts [14]

By Sarah Favot, The Lowell Sun

Michael Widmer, president of the Massachusetts Taxpayers Foundation, said agreeing to reopener clauses is a "dangerous practice" for municipalities, although he couldn't comment specifically on Westford's contracts. "It's a risky proposition for any community, especially in this era with very tight budgets," he said. "It just makes it more difficult to manage your compensation costs."

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Legislature earns good mid-term productivity grade [16]

in

Nov 23 2011

Legislature earns good mid-term productivity grade [17]

By Jon Chesto, GateHouse News Service

Municipal health insurance: Widmer sees the big change in municipal health insurance as a much more effective and immediate way to achieve cost savings than the pension reform. It also showed that the Democrats who rule Beacon Hill aren't always ruling at organized labor's behest. The new law gives cities and towns plenty of flexibility to scale back generous health plans, without offering any less than what's available to state employees. Widmer says he believes the savings have already exceeded the early estimates of $100 million a year. That's money that can be used to protect the jobs of teachers, police and firefighters.

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Arciero's Reform Bill Unanimously Passes The House [19]

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Pensions [1]

Nov 22 2011

Arciero's Reform Bill Unanimously Passes The House [20]

By Andrew Silvia, Westford Patch

The bill follows a measure passed by the House in Arciero's last term that eliminated such pensions for elected officials, and this latest step has seen praise from government watchdogs, such as Michael J. Widmer of the Massachusetts Taxpayers Foundation. "Special pensions are very costly and should be eliminated," said Widmer. "They are just another example of sweetheart deals."

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Lawmakers Approve Mass. Pension Bill [22]

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Pensions [1]

Nov 15 2011

Lawmakers Approve Mass. Pension Bill [23]

WBUR

The Massachusetts Legislature has approved an overhaul of the state’s pension system that would raise the minimum retirement age for future state employees to 60. The measure aims to save $5 billion over the next 30 years and reduce the state’s $17 billion unfunded pension liability. Backers also say it will help preserve the state’s credit rating, which was recently upgraded by Standard & Poor’s.

“It’s a positive step,” said Massachusetts Taxpayers Foundation President Michael Widmer. “On the other hand, the pension legislation applies only to new hires, so it won’t have any short-term impact of any significance."

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East Bridgewater fire chief's status in lawyer's hands [25]

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Municipal [6]
Pensions [1]

Nov 12 2011

East Bridgewater fire chief's status in lawyer's hands [26]

By Maria Papadopoulos, The Enterprise

Taxpayers have a right to know about a public employee’s extended sick leave, and how a municipality is handling their claims, said Mike Widmer, president of the Massachusetts Taxpayers Foundation. "They’re paying for it, and it reflects a policy that they have a right to know about,” Widmer said.

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Teachers' generous sick leave benefits far outstrip what private sector provides employees [28]

in

Oct 23 2011

Teachers' generous sick leave benefits far outstrip what private sector provides employees [30]

By Charis Anderson, South Coast Today

"There is clearly a double standard, in which public sector benefits are out of line with what's available in the private sector," said Michael Widmer, president of the Massachusetts Taxpayers Foundation, a nonpartisan public policy organization. "It's a divide in cities and towns because the public, most of whom work in the private sector — the voters — are being asked to support and pay for benefits they've long since lost or never had."

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Editorial: Some reform is better than none at all [32]

in

Pensions [1]

Sep 27 2011

Editorial: Some reform is better than none at all [33]

The Daily News

People are living longer, which is why the age at which those in the private sector can collect Social Security keeps going up; and some 39 other states, according to the Massachusetts Taxpayers Foundation, have enacted reforms similar to those being contemplated on Beacon Hill.

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Our View: Modest pension reforms deserve quick passage [35]

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Pensions [1]

Sep 23 2011

Our View: Modest pension reforms deserve quick passage [36]

The Salem News

eople are living longer, which is why the age at which those in the private sector can collect Social Security keeps going up; and some 39 other states, according to the Massachusetts Taxpayers Foundation, have enacted reforms similar to those being contemplated on Beacon Hill.

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