Wednesday, May 16, 2007

Underfunded state pensions

I got an email from Councilman Matt Altieri today. In it, he wrote that it was "a step in the right direction" to support HB6141... a bill that I understand is intended to further fund the currently underfunded teachers' pension fund.

I agreed with him that properly funding our liabilities is important. However, I also mentioned that we have other underfunded long-term liabilities, including the state employees pension fund... on top of our general debt for capital projects.

I believe the teachers pension fund is (actuarially) estimated to be $7billion underfunded. And the state's other long-term liabilities are underfunded by another $25-30billion dollars or so.

I can only speak for myself in saying... funding all pensions is important... and each are equally important.

Tim White
Town Council, 4th District

12 comments:

Anonymous said...

We should support this legislation and fully fund the pension-if we don't we will go into debt even more and we don't need that.

Anonymous said...

You might want to take another looka at the bill.

Anonymous said...

I looked at it and it does what it says it does

Anonymous said...

alteir does not hide his bias.

Anonymous said...

This is a great bill-after hearing all the REp rant and rave about unfunded liab. I expect to hear them support this
or will they change their position on this as they do everything else when it suits them
fish or cut bait

Anonymous said...

funding for the teachers
funding for the turf
next we’ll need bleachers
and a field for only Nerf.

alteiri = lieberman

we need real progressives, not personal agendas

Anonymous said...

LETS GET THE NORTH END GOING
I CANT WAIT FOR ALL THE SHOPPES AND THE STORES AND ALL THE FUN THINGS THAT IT CAN OFFER

Anonymous said...

1227 this is about pensions, nto the neorthnd. northend is good because it is progressive

alteiri is not prosgressive.

he is LIEberman-esque. willing to push his personal agenda at a cost to a prgressive democratic agenda.

Amann and Rell must fund ALL pensions, not focus on Mr. Alteiri's pension.

Anonymous said...

1:06 I agree that the guy's post was off topic and I agree about Joe, but let's not call the north-end project progressive in terms of a "progressive democratic agenda." The paving over of 400 acres for the sake of saving 5 minutes worth of drive-time is hardly progress in any sense, and the other motives involved are just despicable.

Anonymous said...

Our party must run progressives, not the likes of Altieri. Even "moderates" can do better than his "ME first" attitude.

Government must pay for healthcare and education (including university), but not his happy-go-lucky pork barrel spending on the swim team and West Main sidewalks.

Anonymous said...

Altieri is on the council to serve a handful of special interests, which he has not tried to hide. He brings nothing to the table.

Anonymous said...

He hid his relationship to CYB.