Governor, Legislators Scrap Plans for Early Retirement Incentive Program
July 23, 2009
In a joint statement released yester, Governor Deval Patrick, Senate President Therese Murray and Speaker of the House Robert DeLeo announced that the Commonwealth will not adopt an "early retirement incentive" program, as it has during past fiscal emergencies.
Text of the press release:The leaders do not support an early retirement incentive program, for either state or municipal workers, because, based on experience with previous efforts, such programs have not saved substantial operating funds and have proven too costly to the state retirement system.
Meanwhile, the Governor, the Senate President and the Speaker announced their support for maintaining retiree health care contributions at 15 percent until January 31, 2010. For anyone whose retirement is effective on or after February 1, 2010, the retiree's health care contribution will rise to 20 percent.