Mass. set to make pension changes, including reamortization

Sep 15 2011

By Ted Nesi , WPRI

The bill estimates savings of $3 billion for the state and $2 billion for municipalities over the next 30 years. Earlier this year, the Legislature and Democratic Gov. Deval Patrick agreed to extend the schedule for fully funding the pension system from 2025 to 2040 — a move estimated to save the state $800 million in the current fiscal year but with a potential cost to the state of $30 billion between now and 2040, according to the Massachusetts Taxpayers Foundation's Michael Widmer.
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