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Old 02-24-2016, 07:01 AM   #41
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I think there are still many loopholes in ma pension system, had a friend that served in an unpaid selectman position for 25 years which counted toward the pension when he took a full time city job. So he only needed to work a few years full time and take a pension like he worked 30. On and on it goes...


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+1 There's so much that goes on that people don't (want to) know about.
There's a general "nothing to see here folks, move along" attitude.

I my little town, pensioned city employees get a 25% reduction on their property tax and, if you come down with something like (ahem) "hearing loss" or some similar 'disability' within six years after your retirement, your Federal income tax on your pension is paid for by the city; a nice little $10K-$15K increase in pay!

But at least the MBTA trains run on time.
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Old 02-24-2016, 08:18 AM   #42
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But at least the MBTA trains run on time.
Do they? When was the last time you took the commuter rail?

I hope you're being sarcastic.
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Old 02-24-2016, 08:34 AM   #43
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+1 There's so much that goes on that people don't (want to) know about.
There's a general "nothing to see here folks, move along" attitude.

I my little town, pensioned city employees get a 25% reduction on their property tax and, if you come down with something like (ahem) "hearing loss" or some similar 'disability' within six years after your retirement, your Federal income tax on your pension is paid for by the city; a nice little $10K-$15K increase in pay!

But at least the MBTA trains run on time.
The MBTA pension is a disaster. MA local government pensions have had major troubles for years because of poor management and many are being transferred to the larger state system so PRIT can manage the money. Which MA pension are we talking about here? Your town's situation should be looked into...probably something to bring up at the next town meeting, there might be some MA state law issues as the municipal pensions must be run to MA legislation, but it has nothing to do with MSERS.

For most MA pensions the state puts in 4% of salary and the employee must put in 11%. The state and the employee do not pay the SS part of FICA saving the tax payer lots of money. The MA pension scheme costs the MA tax payer less than the vast majority of other state pensions. This is a good explanation of the current system and includes recent reforms.

Demystifying the State Pension System - MassBudget
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Old 02-24-2016, 09:25 AM   #44
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Do they? When was the last time you took the commuter rail?

I hope you're being sarcastic.
Quite, quite, quite sarcastic. I've been to third world countries where the public transit is 10 times better.
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Old 02-24-2016, 10:57 AM   #45
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Honestly, this is old news. Nothing of substance will be done until all other options have been exhausted (which is generally to mean smoke and mirror type patches). Especially true at the civil level as has been discussed to death here, and elsewhere.


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Old 02-24-2016, 04:30 PM   #46
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Pension Risks are Growing

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For most MA pensions the state puts in 4% of salary and the employee must put in 11%. The state and the employee do not pay the SS part of FICA saving the tax payer lots of money.

Sure, it saves taxpayers the difference between the SS rate and 4% right now. What it does in the long run depends on what they promise in return for the 15% combined contribution. And, as I pointed out to a friend who hotly defended her teacher's plan as "just like a 401(k)", she has a promise that she'll never outlive her pension. This is a risk the municipality or other pension-providing employer takes.
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Old 02-24-2016, 07:00 PM   #47
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I my little town, pensioned city employees get a 25% reduction on their property tax and, if you come down with something like (ahem) "hearing loss" or some similar 'disability' within six years after your retirement, your Federal income tax on your pension is paid for by the city; a nice little .
Stop It! You folks keep reminding me I worked for the wrong government institution.
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