Tuesday
Jan262010
Governor Patrick Proposes Pension Reform
Tuesday, January 26, 2010 at 03:08PM Accordi
ng to a press release issued today, Governor Patrick is proposing to cap public employee pensions at $85 thousand per year and to changer the way pensions are calculated to limit abuses and raise retirement ages. Governor Patrick says that his proposed changes will save the state $2 billion over the next 30 years. Assuming that the reforms apply to cities and towns, the implications for Newton could be considerable. For example, a retiring department head making $130 thousand who retires at 80% pension would receive a pension of $104 thousand per year under the old system. Check out the press release and post your comments!
Reader Comments (6)
Sounds like in the aftermath of the Scott Brown election, our governor thinks fiscal reform is something that would make voters have warm & fuzzy feelings toward him as he faces re-election this fall! And I think he is absolutely right. I'm very happy about today's announcement, will be following it closely to see if it's as it appears.
I think Deval realized that people who watch the news don't have a clue as to what he has been doing while in office or what his big accomplishments are. He hasn't been a very visible governor. Also, a lot of the negative Coakley ads showed her pictured with him, so I think her campaign negatively impacted his reelection.
I'm confused by how this will impact Newton.
Aren't the people affected getting paychecks that say "Commonwealth of Masachusetts" vs. people whose checks read "City of Newton"? I didn't understand how this could have an effect on our pension liability. Also, we don't fund the teachers' pensions, that's totally separate. I can't believe that MTA is affected by this. It would be a MAJOR bait and switch to those in mid-career and beyond.
Can somebody explain the relationship between the state pension system and the City of Newton's pension system?
Karen,
My understanding is that Governor Patrick's proposed changes would include changing the state pension law that controls what pensions are available to municipal employees, so it shoul affect Newton retirees. If anyone has information to the contrary, please correct or clarify!
Good idea...sounds like what Baker has proposed.
I'm personally leaning towards Baker in this one. He seems quite resonable (in fact quite liberal). Patrick just seems to have been ineffective.
I definitely want to learn more before I choose though. With fed and local issues occupying my mind the state has taken short shrift.
Obama totally rocked. I thought at some point even die-hard Republicans would be nodding in agreement. (Unfortuantely, this may not have been true.) I loved the comment about making decisions just because they are popular - was obviously not what was happening! (re: healthcare). He is a great communicator, and really knows how to reach out to people.
As for Deval's re-election... If I were him I would be looking for work in DC.
I think last night's address may be confusing to independents and Republicans in MA. Obama flew up here in the 11th hour to help save Coakley's campaign. Now he wants bi-partisanship whenit some to his healthcare proposal. I am just saying - mixed messages...
I was not impressed with Judge Alito's body language - who does he think he is ME? (wearing his heart on his sleeve!)
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