Just FYI. Take a look at the legislation. Globe's got the story, and a brief rundown of what was passed. We'll have to see what was in and what was out of the final legislation to pass judgement. Thought you'd like to know.
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Pension reform passes
Isn’t so irrelevant after all. The Governor got the provisions he had come out for, including the new law applying to current as well as future state employees.
Here’s his statement (email, no link):
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Nice to see that the state’s business can still get done. Wonder what caused the sudden willingness to work together — Sal’s indictment? Internal polling? A few brewskis? A sudden outbreak of common sense?
..and lets all remember there is still lots of it to do – I note that without a new budget in place July 1, 2009 lots of “things” will start to creak and stall.
I think our guys like David and Charley on the MTA got Mr. DeLeo, Ms. Murray, and Mr. Patrick together and told them that the BMG leadership is getting really tired of defending them. Plus, everybody knows that Ernie is not somebody you want to piss off.
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p>Just my two cents… 🙂
They had started the process on a number of issues — pensions, transportation, revenue. Are we do for some more progress in the near future? Mehopes so.
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p>I think Sal’s indictment helps. One more progressive legislation he helped push through…
…that the present system (more, rather than less) will be back on its throne in a few years time. I doubt if any politician will give up anything.
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p>All those politicians, civil servants, hangers-on, with nothing to do but figure, calculate…
Don’t count on that last one!!
This is good stuff, but I love how the Carmen’s Union managed to protect their 23-and-out perk yet again.
We’ll see if they’re right if/when that bill makes it out of conference committee…
Globe says House and Senate will vote on the bill tomorrow (Thursday). Today the conference committee released its agreed-upon draft.
Just a quick “fly by” to add my kudos and perspective. This is a really good bill, closing down the most egregious carve-outs in the system, including several perks that apply to legislators. I understand that the 23 and out will be fixed in the transportation bill. The real hero here is Senate President Terry Murray. The pension bill originated in the Senate and the final bill is very similar to the proposal they drafted and passed. Like the conference committee report, it applied to current as well as future employees. The House did have a point about litigation, but deserves credit for conceding the point and of course passing the other provisions in the first place. Now if only we can get as good a result from the Ethics conference committee, it truly will be a “season of reform”. Of course, those two bills won’t accomplish all that needs to be done, but they will be a tremendous accomplishment and a great start.
This is low-hanging fruit. I am glad they are doing it, but it’s not going to do much on costs.
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p>Tell you what, if they do this and then “do no harm” I will be satisfied. I.e., none of this b.s. passes in a midnight budget section amendment.
to former employees and current pensioners, too. If they availed themselves of sweetheart pension deals, such as the 1 day deal, or the credit for volunteer jobs, cut them out as of the last payment they received. As for retiring, I can’t collect any SS before age 62, and that at a reduced percentage, plus, the pension at my former company doesn’t kick in until age 65. The same should apply for state employees or various kinds. If they want to ‘retire’ from state employment at a young age, fully vested in its retirement program, swell, but don’t expect to start collecting until you reach the age limit. In the meantime, get another job or live off your savings.
As objectionable as the system may have been, those were the rules. Many of these people probably made their plans based on these perfectly legal rules. They shouldn’t have the carpet pulled out from under them, even if it is an expensive oriental rug.