The Newburyport Daily News recently featured the bad grades that many communities received from the Pioneer institute in terms of how well-funded their pensions are.
Marblehead has the highest funded ratio in the area, meaning that Marblehead has the highest percentage of their pension obligations funded out of the communities in the area, according to the article.
“Marblehead was one of the first systems that went into the state investment pool back in the early ’90s and that’s been a very important decision because the state system has done fairly well over time,” said Marblehead Finance Director John McGinn said.
Check out the full article on the Salem News.
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