( – promoted by Rob “EaBo Clipper” Eno)
The Massachusetts state pension system is rated the worst in the nation in a recent report by the liberal-leaning Urban Institute. http://datatools.urban.org/fea… Massachusetts was the only one of the 50 states to receive an “F” rating in the study. Other blue states didn’t fare much better with Connecticut, Rhode Island and New Jersey all receiving a “D” rating.
Young people in particular should sit up and take notice. Younger workers in state government are being hosed mightily by the unions and politicians in the state. Massachusetts received an “F” rating in the two categories that are of most interest to younger government workers: the funding adequacy of the plan and fairness to new hires.
Candidates and legislators interested in real change and fiscal responsibility should also take notice. Coming from a liberal Washington think tank, the report is a stinging indictment of our Governor, State Treasurer, and the rest of the Beacon Hill establishment. This is all the more relevant as the officer in charge of the pension system-Steven Grossman-is making a play for the corner office.
BTW: researchers at the Pioneer Institute have been doing great work on public pension systems in the Bay State. Check out their work at: http://pioneerinstitute.org/ta…