Also see: The Big Pit
"Special pensions cost state millions; Among the winners are 6 ex-Pike managers expected to reap $3.7m in lifetime benefits" by Sean P. Murphy, Globe Staff | July 25, 2008
State and local governments over the last five years have committed to spending an estimated $115 million to $235 million on 386 public employees who were allowed to invoke an obscure part of a state law to win earlier and significantly larger pensions, a Globe analysis has found.
At the financially troubled Massachusetts Turnpike Authority, for instance, six former employees, including high-level Big Dig managers who were in their 40s and 50s, have taken advantage of the law to reap a combined $3.7 million in pension and lifetime health insurance benefits beyond what they would receive under normal pension rules, an average of more than $610,000 each.
The law, passed in 1945, was intended to protect longtime public employees from politically motivated purges, guaranteeing them immediate and significantly higher pensions if their jobs are eliminated or if they are dismissed after at least 20 years on the job. Typically, workers in the state retirement system must wait until they are at least 55 to begin receiving a pension. Unions continue to defend the provision as necessary to help protect workers from being fired or to cushion the blow if they are.
In modern practice, the law has allowed some employees whose jobs are phased out, typically because of money-saving efforts by government, to start collecting pensions immediately. That has enabled some to move on to second careers in their 40s or 50s, with lifetime pensions that are extremely rare in the private sector. The typical profile is midlevel manager, not a rank-and-file worker.
"These kinds of special pensions are very costly and should simply be eliminated," Michael J. Widmer, president of the Massachusetts Taxpayers Foundation, said in an interview. "They are just another example of sweetheart deals."
The guy makes darn near every Boston Globe article!!!
The six Turnpike Authority officials are among 386 former public-sector employees - including county employees and municipal employees such as teachers and school administrators, whose pensions also are governed by state law - to get the special benefits.
Despite the cost to the state, Beacon Hill leaders are not clamoring to change the law, even at a time of big deficits. Through a spokesman, House Speaker Salvatore F. DiMasi declined to comment. Senate President Therese Murray declined to comment, said though a spokesman that "there are [Senate] members who are looking at that issue and other issues involving pensions."
The law also allows such employees, many in their 40s, to begin receiving lifetime health insurance coverage, 80 percent of which is paid by their former employer. That's a value of about $12,250 a year for family coverage, according to the Turnpike Authority.
Ralph White, president of the Massachusetts Retirees Association, said the enhanced benefits are necessary to protect employees who want to spend their entire career in public service and build a bigger pension. To be terminated after 20 years deprives them of that goal, he said.
Oh, so it is a SELFISH, LOOTING INTEREST not a PUBLIC SERVICE, huh?
(As companion pieces, please see: Ron Paul Revolution Excerpts: Economic Freedom and Ron Paul Revolution Excerpts: Money)
Yeah, Ron Paul was right!!!!
Eric J. Waaramaa is among the Turnpike Authority officials who received such enhancements. In a 22-year career with the state and the authority, he worked his way up from planner to the authority's chief financial officer. But he was terminated last year without explanation, according to a letter dated Jan. 1, 2007, resulting in a $42,036-a-year pension. At the time, Waaramaa was 45 and earning about $105,000 a year. If he had waited till 55, his pension would have been $33,688 a year.
Since then, Waaramaa has worked at the MBTA as deputy director of financial planning, at a salary of $86,142. He picked a 401(a) retirement plan at the MBTA, under which the agency contributes about $6,900 a year toward his retirement.
In April, the Globe reported on the case of former Big Dig manager Michael Lewis, who last year, at age 46, began collecting a $72,578 annual pension. Lewis's job was eliminated, and he was dismissed because the Big Dig project came to an end.
Since leaving the state, Lewis has been hired by the state of Rhode Island as transportation secretary, earning $130,000 a year, which comes on top of his Massachusetts pension.
Patrick J. Moynihan, another former Big Dig director, also got the enhanced package in 2000. As the Globe reported in 2000, Moynihan was kept on the job as a "transitional adviser" six months after being fired as Big Dig manager, so he could attain the 20 years of state service that qualified him for the enhanced benefit.
On Oct. 16, 2000, Moynihan hit 20 years. It was his last day as a public employee. He was 46. Since then, he has worked for a public property management firm and a law firm. All the while, he has collected a $44,974 a year pension, plus insurance benefits.
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Meanwhile, this state is running deficits, borrowing to pay for everything, and closing schools while bridges crumble.
But at least Hollywood isn't getting any MORE tax breaks (on top of the ones they are already getting)!!!
Legislation that would give film companies state tax breaks for building sound stages and other facilities in Massachusetts appears destined to flop.
While the House debated for hours last night on a bill to allow film companies to claim a 20 percent tax credit for constructing sets and sound studios, Senate President Therese Murray said her chamber had no intention of taking it up before the end of the legislative session next week.
"I just don't think it's something that's affordable," Murray said yesterday in an interview. "It's not the top of our agenda." She said lawmakers' time would be better spent on assessing a package controlling healthcare costs, approving bond bills, and reviewing the governor's budgetary vetoes.
You mean, actually doing there jobs?
The House debated for several hours last night before approving an expanded set of tax credits for film companies.
Then why does the first paragraph make it seem like they don't have any at all?
I'm tired of the deceptive writing style of the AmeriKan MSM, folks!!!
House lawmakers also voted to expand the tax credits to the video game industry.
Pffft!
Also see: Everyone Gets a Tax Break in Massachusetts!
But without the Senate going along, the legislation will die.
GOOD!!!!
The state already offers incentives to the film industry through a 25 percent tax credit enacted in 2006. The credits cost the state about $100 million a year, according to the state Department of Revenue.
It would be nice if we were not LOSING MONEY on the deal and SUBSIDIZING MOVIE STARS!!!
But, supporters argue, the credits help bring money to hotels and restaurants, not to mention the cultural cachet of having film celebrities regularly visiting Boston.
Oh, yeah, the important elite shit stinks!!!
Lets waste more taxpayer $$$ on them?
As the competition from other states increases - Michigan, for example, raised its tax credit to 42 percent this year - lawmakers have been looking to draw even more films to Massachusetts. Last month, Governor Deval Patrick met with several film studio executives in California.
Yeah, why was that kept so quiet?
Do I need even type Zionist-controlled AmeriKan MSM or Hollywood?
Seven major-studio films have been shot in Massachusetts in the first half of 2008, and two more are scheduled for the second half, according to the Massachusetts Film Office. In comparison, two were made in Massachusetts in 2006.
The proposal would have directly benefited projects in Weymouth and Plymouth.
Plymouth Rock Studios, founded by former Paramount Pictures executives, plans to build a $422 million facility in Plymouth that would produce movies and weekly television shows and lease space to other moviemakers. The House bill would give it an $84 million tax break.
Also see: Hollywood (East) Disses Veterans
That's why I DON'T WANT HOLLYWOOD HERE!
Go the fuck AWAY, you arrogant, money-stealing pricks!!!!
Also see: More Mass. $$$ to Movie Makers
International Studio Group, which hopes to build a $300 million sound studio at the former South Weymouth Air Station, would receive $60 million yearly in tax credits, money company officials say they need to undertake the project.
Then GO SOMEWHERE ELSE, assholes!!!!
Murray said companies should become more established before they start receiving tax breaks from the state, and she added that the company in Plymouth would still build the studio, even without the incentives.
"If you're serious, build it, start operating it," she said.
Company officials could not be reached last night for comment.
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And are these the "Hollywood cachet" they are talking about?
"Lohan quiet; pal makes some noise "
Oh, she's a "PAL," is she?!
Look, I don't care, readers, because this blog is PRO-LIFE, PRO-LOVE and ANTI-KILLING; however, I object to the New World Order's DIVISIVE AGENDA being RAMMED DOWN or UP (choose your own double-entendree analogy, readers)!!!
"Celeb DJ Samantha Ronson and her pal Lindsay Lohan - hiding under hoodies and traveling alone - rolled into Boston on the Acela Express Wednesday and were quickly whisked away to the Nine Zero Hotel where the two shared a suite. Lohan didn't venture out for Ronson's star turn at The Estate, where the stepdaughter of Foreigner's Mick Jones jokingly told us her favorite love song is the band's power ballad "I Want to Know What Love Is." (Her actual fave: Stevie Wonder's "I Don't Know Why I Love You.") Ronson was a hit at the club, where she seamlessly spun old-school classics, from Prince to Kurtis Blow, as rain-drenched partiers, all decked out in white, writhed on the dance floor. Amid the revelry, half a dozen models in teeny-weeny bikinis emerged from behind the curtain as Ronson did her thing onstage. (And yes, her left arm displayed her red infinity lock bracelet by Jules Smith; Lindsay has a matching one, of course.) Yesterday, the ladies hopped into a limo and were on their way to the DJ's next gig, a White Party at Shrine at the MGM Grand at Foxwoods last night."
Yeah, Lindsay the Lezzie now!
What, that the new 12-step program conclusion: gayness?
Nothing like DRIVING an AGENDA FULL THROTTLE, 'eh, agenda-pushing, IN-YO-FACE, Zionist-controlled AmeriKan agenda-pushers?
I'd expect nothing less from you at this point.
Ta-ta.
