Boston Business Journal - Pension report says consolidation plan would save $25M per year
A new study by the Pioneer Institute in Boston makes the case that the state’s 105 separately managed public-employee pension systems are overstaffed, inefficient and wasting approximately $25 million a year in administrative costs. In a policy brief released late Wednesday, the local think tank said the consolidation of those plans into a more centralized management system could save up to $22.5 million in annual employment costs and another $2.3 million in stipends paid to the various board members who presently oversee each individual pension program. According to Pioneer, each system has a five-person board whose members ...
Login to comment.