COVERITLIVE.COM

12:17

[Comment From JT]
Hey Sean, read your story today. Do you think Cahill's involvement in this recent pension story will affect his gubernatorial desires?

12:20

Sean Murphy - Judging by the more than 100 comments posted online in reaction to today's story, yes, I think the story has a potential affect of Treasurer Cahill's political aspirations. Of course, those who posted comments may not be representative of the statewide electrorate. But still, in these hard times, I think voters may be in a mood to punish those they feel are abusing the public trust.

12:23

Sean Murphy -

I am the co-author of a story on the front-page of today's Boston Globe concerning state Treasurer Tim Cahill and a political supporter and fundraiser who gained a lucrative pension while both Cahill and she were members of the Norfolk County Retirement Board. I've written a dozen stories on pension abuses for the Globe since February.

12:30

Sean Murphy - Good question, but can't give a very helpful answer. I believe the situation in Massachusetts is abusive in and of itself, so that if other states are abusing the public trust, they should be criticized too. But I have not yet conceived of a method to test other states. I think I am on safe ground to say the state system is exceedingly generous compared to the private sector.

12:32

Sean Murphy - I covered the Big Dig for years as an investigative reporter. In April 2008 I discovered and wrote about the Big Dig state manager Micahel Lewis getting a lucrative pension at age 46 or 47 - because he was "fired" which I don't think accurately describes what happend. I have been hunting down pension stories ever since, and it really took off when the economy went sour.

12:34

Sean Murphy -

I think there is a deeply engrained culture that says "take what you can" in Massachusetts. It comes from James Michael Curley and a long line of "rogues" some lovable and some not. In a way we have celebrated it in Boston.

12:34

[Comment From jj]
If the private sector took a 40 % hit in their 401K ( 101K) shouldn't we reduce pensions by at least 20% for all retired state workers

12:36

Sean Murphy - One of the comforts of a "defined pension" is that it is safe from market plunges. The public pensions are of a nature of a contract -- enforceable in the courts. There is not exception for market losses.

12:41

Sean Murphy - One of justifications for generous benefits to public employee is relatively low pay -- or at least that was the case years ago.

12:43

Sean Murphy -

A lot of the mischief associated with pensions is the handiwork of elected official -- elected officials making laws that benefit elected officials.

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