Pension Fund Transparency

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.

I’ve had to change my approach to achieving transparency at the MBTA’s pension fund. It’s been a long struggle, but I think we now have an approach that is going to work.

Back in 2008, I became aware and concerned that the MBTA Retirement Fund is not subject to the same transparency rules that apply to state agencies. My understanding of this issue has greatly evolved over the past few months: While I have undiminished passion for transparency, I have to admit that the Retirement Fund is …

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On February 25, 2014, the Joint Committee on Public Service will be holding a public oversight hearing on the MBTA Retirement Fund. Below, please find an overview of the applicability of the public records law and state ethics law to the MBTA Retirement Fund and Board. PUBLIC RECORDS LAW APPLICABILITY In May of 2013, Senator …

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The legislation sponsored by Senator Brownsberger paved the way for the opening of the MBTA pension books. The Boston Herald has been covering this story. The data was released from the MBTA, as the Retirement Board had refused to release the information.