( – promoted by garrett3000)
Massachusetts State Senate Minority Whip Sen. Robert Hedlund will detail his plan to reform the state’s pension system at a meeting of the Quincy Republican City Committee on Tuesday night.
Sen. Hedlund has proposed a bill that would close loopholes and tighten regulations exploited by the likes of former UMass president Billy Bulger and former state senator James Marzilli, as well as increase transparency of the costs associated with proposed changes to the system.
The bill would:
• Prevent elected officials from including housing allowances, overtime pay, bonuses, severance pay and other non-salary income in their pension calculations;
• Eliminate the current rule allowing public officials to receive credit for a year after working just one day;
• Require pensions be based upon an employee’s entire group classification history, not just the time spent in the highest – and thus most lucrative – classification;
• Cap pensions at 400% the state average, which currently is around $22,000;
• Prevent legislators who fail to win re-election from receiving a pension bump;
• Require bills that make changes to the state pension system be accompanied by an “impact statement” that explains how much the change will cost taxpayers.
The Quincy Republican City Committee will meet Tuesday, February 10, at 7 p.m., in the 2nd Floor Meeting Room at Roche Bros., located at 101 Falls Boulevard.