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SpanishUS. MBTA pension fund faces hard times after 2018 losses
After the MBTA pension fund posted losses in 2018, officials warned Monday that the burden of covering retirement for thousands of T employees remains “a really crucial issue.”
The fund has been the subject of scrutiny for years as the MBTA grapples with budget concerns. New figures, discussed at the authority’s board meeting, did not alleviate the pressure: the fund paid out $100 million more to retirees last year than it collected in contributions from current employees, and it lost $50 million in the financial markets. After a return of more than 15 percent in 2017, the fund fell 2.9 percent in 2018.
Pension payouts are contributing to budget struggles at the MBTA, which after years of deficits has prioritized keeping expenses growing in line with revenues.
Read more @Salem News
