| More

Changes To Massachusetts Pensions Would Raise Retirement Age

A proposed reform of the Massachusetts pension system would prevent retired state employees from collecting their benefits until they are 57 and would require state police troopers to retire at 65, the  State House News Service  reports.

The bill passed the state House Ways and Means Committee Monday and will now go before the full House. The minimum retirement age from state employees would increase from 55 to 57. Anyone who retired before 60 would have to accept a reduced pension, the news agency reports.

State Rep. John Scibak, who sponsored the bill, estimated it would save the pension system $6.4 billion. The system's current unfunded liabilities are about $20 billion, the Statehouse News Service reports.

If you enjoyed this post, subscribe for updates.

Dylan Scott is a GOVERNING staff writer.

Twitter: @dylanlscott

Dylan Scott is a GOVERNING staff writer.

Twitter: @dylanlscott

You May Also Like


Add Your Comment

You are solely responsible for the content of your comments. GOVERNING reserves the right to remove comments that are considered profane, vulgar, obscene, factually inaccurate, off-topic, or considered a personal attack.

Comments must be fewer than 2000 characters.

Events & Webinars

  • GOV - Towers Watson Webinar - 2-23-2016
  • February 23, 2016
  • Please join this webcast February 23rd to learn how Medicare exchanges work and why this solution is being rapidly adopted by the public sector.

  • GOV - The Drucker Institute Webinar - 2/24/2016
  • February 24, 2016
  • The key to every successful public agency is in the talent and training of the employees who serve the public. No matter their function or organizational structure, state and local agencies are continuously striving to recruit, train and retain top talent. With budget cuts affecting professional development line items first, alternative methods to provide leadership training onsite and online are essential.

© 2011 e.Republic, Inc. All Rights reserved.    |   Privacy Policy   |   Site Map