Pension Funding & State Budget скачать в хорошем качестве

Pension Funding & State Budget

Weekly Update, January 30, 2026: On Wednesday, Governor Maura Healey unveiled her Administration’s FY27 budget proposal, which was accompanied by a change in the Commonwealth’s Pension Funding Schedule. The Commonwealth’s Pension Funding Schedule applies to the State and Teachers’ Retirement Systems, while the state’s 102 local retirement systems each have their own funding schedule. Known as H.2, the Governor’s proposal comes in at $63.36 billion or 3.8% above the original FY26 appropriation approved last July. The budget blueprint makes no changes to the insurance contribution rates charged to retired or active state employees nor does it propose any statutory changes impacting the Group Insurance Commission. If passed as proposed, the GIC’s budget appropriation would exceed $2.8 billion. In response to fiscal concerns heading into FY27, the state has extended its pension funding schedule by three years to 2039. As Mass Retirees advocates for improved COLA benefits and the establishment of a COLA Reserve Fund, we believe that the move to revise the Pension Funding Schedule will help foster a wider discussion on restructuring the Commonwealth’s approach to pension funding. Association members should look to today’s Weekly Update email for full details, as well as additional information on topics of direct importance to public retirees. The Weekly Update is emailed to all Mass Retirees members, for whom we have a valid email address, every Friday morning at 6:00 AM. If you are not currently a member of the Mass Retirees Association, please join today using the links below. Given the fight public retirees now face, maintaining a strong well-informed membership is more important than ever. The financial security and peace-of-mind of retired Massachusetts public employees depends on it! Founded in 1968, Mass Retirees is a private statewide nonprofit membership association advocating on behalf of ALL retired Massachusetts public employees and surviving spouses. If you are a retired Massachusetts public employee, but not currently a member, please join today at https://massretirees.com/new-members-... We also offer an Associate Membership option to allow active public employees nearing retirement age to subscribe to our Weekly Update, newsletter, and other informational resources that will keep you well informed and help you better prepare for your future retirement. Subscribe today at https://massretirees.com/subscribe/