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Posted On: Jan 23, 2010 (18:46:09)
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Early Retirement Bill The State House News Service is reporting Governor Patrick is filing a bill to be included in a municipal relief bill that would establish an early retirement for employees that have twenty years of service. Their would be a limit on the number of participants. To entice participants, municipalities would be allowed to let them credit three years of unearned service or age., or a combination of the two , to retire with their pension. To be paid out of the operating budget.
Also: The Governor filed legislation that will let cities and towns to push off payments to address unfunded pension system liabilities.., State and local pension systems last year absorbed massive investment losses and the Governor is proposing extending pension funding by 10years to the year 2040.
More to follow
Thank You
PFFM Legislative Committee
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