MA: State Senate passes pension reform bill

posted by
September 15, 2011
Boston Globe    
Posted in News, PND News

"The Massachusetts Senate late [Thursday] afternoon passed a major overhaul of the state pension system designed to cut benefits for future workers, saving $5 billion over a 30-year plan. The proposal, which passed just before 5 p.m., would raise the minimum retirement age from 55 to 60 and would raise the retirement age for maximum benefits from 65 to 67. The bill would also base pension benefits on workers’ top five years of earnings, rather than the top three years, as is currently the practice." [editor's note: Given the comparison with private-sector pensions, this only seems like a sane move - SAT] (09/15/11)  

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