Great op-ed in yesterday's Boston Globe which gives Governor Patrick credit for the first steps toward overhaul of the pension system he took in 2009, but points out that those changes were nibbling at the edges.. "The more serious financial concern isn’t the laughable excesses, but the regular benefits that far exceed the private sector. The Massachusetts system has an unfunded liability of $19 billion; the state spent $1.1 billion in this fiscal year alone to address that chasm... The unfunded liability is a yoke around the state’s neck, preventing future initiatives that would enhance the state’s quality of life and economic viability for all its citizens."
 


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