Word: pensioneer
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...read Justin Fox's article with horror [Dec. 15]. The basic premise: a government-run pension is more secure than my 401(k). Curiously, I saw no mention of a current government program called Social Security--one the government has handled so expertly I probably will never get to collect from it. Now those same people think they can do better with retirement funds? It is easy to make decisions when the rules don't apply to you. No members of government will have to worry about their pension or medical care. The market works; government does not. Charles...
...state, the issue is that if we under-fund the yearly payment into the pension fund, we have to extend out the year when the past shortages will be caught up,” said State Representative Alice K. Wolf, whose district includes Harvard and much of the west part of Cambridge. “This becomes an issue every time there is a financial crisis...
...While Cambridge’s larger and earlier payments into its pension plan have given the city more room to maneuver than others, city officials said that the pension funds have almost certainly been harmed by the slumping markets...
...date actuarial reports on the pension fund have not yet been made available as the city typically receives biennial reports, the last of which was received in July, according to Murphy. Depasquale said the city may look to get an interim report on the pension fund in January or February...
...City Councillor Craig A. Kelley said that while the pension fund has surely suffered, only a long-term perspective could provide the necessary context to examine its value...