The $8.6 Million payout to the ousted Blue Cross CEO ( Cleve Killingsworth) doesn’t give me much confidence in this near-monopoly “Non-Profit” company or its Board of Directors. (Directors are paid over $50,000 per year each, for one meeting a month). That’s a lot of co-pays at $20 each ! Note that Killingsworth will …
Two more articles on the unions/pay/pensions issue
Today, NYT: http://www.nytimes.com/2011/03/02/business/02leonhardt.html?_r=1&scp=2&sq=leonhardt&st=cse . Summary: it’s not the pay, it’s the pension and disability benefits. And the work rules. Recently, Fortune/CNN: http://management.fortune.cnn.com/2011/02/28/are-public-unions-our-convenient-economic-scapegoats/?section=magazines_fortune . Summary: the unions are (generally) not the cause. Neither article supports the current moves to strip unions of the right to strike and/or engage in collective bargaining.
Transparency — Overview
Posts on MBTA pension transparency End the Secrecy of the MBTA Pension System Senate Transportation Plan includes Transparency Enhancement Posts on financial transparency in the legislative process July 2012 Senate Transparency and Financial Management Reforms Progress on Controlling Special Interest Tax Breaks Transparency Improvements Implemented Transparency Rule Changes Passed Transparency Improvements Passed Transparency and the …
what are reasonable assumptions about long term returns of pension plans?
“…the current [pension] shortfall is attributable to the recent stock market plunge…” Hmm…first of all, the S&P 500 has doubled from its March 2009 low and is now within 40 points of its all time high (1,565 on Oct. 9, 2007). So we are past the plunge. Second, the problem of poor returns now stretches …
Continue reading “what are reasonable assumptions about long term returns of pension plans?”
FY2012 Budget Priorities
I sent my annual priorities statement to the House Ways and Means Committee today.
Public Benefit Issue
I appreciate the fact that you have been so involved in this issue as it is one of the largest fiscal issues facing Massachusetts and the rest of the Country. Any reforms in this area however cannot simply be stopping the continued growth of pay and benefits in the public sector but actually reversing them. …