May 30, 2014

Pension Review Panel Chairperson: Our state pensions are stingiest in US

The expert who chaired two special state panels reviewing the Massachusetts state public employee pension system says that the plans “have been reformed to death and are now the cheapest in the nation” for taxpayers—but that they don’t serve retired workers well at all.
 
Alicia Munnell, the director of the Center for Retirement Research at Boston College, chaired state panels on the public employee retirement system in 2006 and 2009. Her comments came in a recent op-ed piece in the Boston Globe. She also criticized the Commonwealth for failing to make its share of payments to the system.

NAGE has been a longtime advocate for strengthening retirement security for the women and men who spend their lives serving the public. We hope that Munnell's comments will convince the decision-makers to help us make that retirement security a reality for the Commonwealth's current and future retirees. 

You can read the entire column here.

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