1. 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 ...

    Read Full Article

    Login to comment.

  1. Categories

    1. Industry Clusters:

      Aerospace/Defense, Business Development, Creative Economy, Education, Energy, Entrepreneurship, Financial Services, Green Region, Health Care, Information Technology, Life Sciences, Logistics, Manufacturing, Medical Devices, Paper Manufacturing, Plastics, Retail, Tourism, Transportation, Workforce

    1. There is a huge disparity among the 105 systems in terms of staffing levels and number of beneficiaries served.
  3. Topics Mentioned