Special benefits hurting Mass. pension system

Insiders who specialize in gaming the Massachusetts public pension system have contributed to a $3 billion increase in liabilities. A new study says the system is plagued with what it calls "abuses, loopholes, and exceptions."

One of the most brazen pension ploys, [Ken Ardon, a Salem State economist and a former Romney adminstration finance official] found, is the rash of state workers who inexplicably wind up “fired” right after they reach the 20-year mark.

The dismissals are a bold attempt to grab one of the state retirement system’s coveted perks - early retirement. A state law allows workers with 20 years of service who have either been fired, or had their jobs eliminated, to sail off with a pension.

That’s just one of a veritable thicket of loopholes Beacon Hill lawmakers have inserted over the years, the study finds.

The study also cites the example of a former University of Massachusetts president who attempted to augment his pension by arguing that his housing and transportation allowances, in addition to his retirement annuity, should have been part of his benefit calculation.