Pension Fund Transparency Update

Last week, the MBTA reached agreement with its largest union, Local 589, on a new collective bargaining agreement which includes commitments to increase transparency of the union’s pension fund. Concerns about the issue aren’t fully settled, but this is real progress and I commend the MBTA, the union’s leadership and the fund itself for these major steps towards transparency.

Pension Benefit Guaranty Corporation

Cathy and Stan Rezendes in Arlington asked me to pass on the following statement: As outlined in the Boston Globe article on April 13, 2014, the executive director of PBGC has stated: “Unless Congress acts–more than 1 million people will lose their pension”. Further, “if Congress allows the PBGC to get the money and authority …