Gov. Patrick (D-MA) proposes raising retirement age for public pensions from 55 to 60

[Still a Democrat]

...

The state of Massachusetts is also proposing raising the retirement age for public pensions-holders – and we’re not talking about 62. The current minimum retirement range for most Massachusetts public employees is 55. The proposed change would bump that up to 60.

No marching in the streets around Beacon Hill. Not yet, at least. But not everyone’s happy, either.

Nevertheless, when he unveiled the new legislation this week, Governor Deval Patrick said the state stands to save an enormous amount of money:

“Taken together, these proposals generate over $5 billion in pension funding savings over 30 years, including an estimated $2 billion in cities and towns,” Patrick said.

...

http://radioboston.wbur.org/2011/01/20/state-pensions



Not at all unreasonable. The effort to reform public pensions is bi-partisan. It's difficult to support continuing these kinds of costs during such difficult economic times.

[Swamp Rat]

1. 55 is a good age for retirement.

No need to raise it, especially with so much unemployment.

[MannyGoldstein]

2. If this is retroactive, it's awful

What we need to do is raise taxes on the wealthy. They are paying at one-third the rate they used to.