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AUBURN, Mass. - Republican state Senate candidate Steve Simonian is attacking state Sen. Michael Moore (D-Millbury) for being hypocritical when it comes to pension reform, but Moore is fighting back, saying that Simonian has “grossly misrepresented the facts.”
With the Second Worcester District election coming up in November, Simonian is on the offensive, saying that Moore should “start paying back every penny of his retirement pension to the taxpayers plus interest, which now is in excess of well over $100,000, that he started taking at the ripe old age of 45, while collecting a salary as a senator.”
Simonian, an Auburn selectman, said that Moore is hypocritical after voting for pension reform laws.
“Mr. Moore supported pension reform that prohibits teachers, firefighters, cops and other public employees from filing for retirement benefits and collecting a salary simultaneously,” Simonian said. “He supported this reform only after he started collecting over $28,000 annually in retirement benefits plus his salary.
“Mr. Moore actually thinks people are naïve to believe he is saving the taxpayers money collecting his retirement pension and salary in his 40s,” Simonian continued. “If double dipping did actually save the taxpayer money, then you have to question why Mr. Moore would support reforms that outlawed it.”
But Moore said that Simonian has “once again issued scathing remarks without first understanding the issue.”
“This phase of pension reform, which I was proud to support and vote for, is projected to save approximately $5 billion over the next 30 years,” Moore said. “Specifically, it raises the age of retirement for public employees, grants retiree benefits to surviving spouses in gay marriage, closes a number of loopholes, and much more.
“It does not, as my opponent has stated, prevent state employees from seeking a new occupation after retirement, as is my case,” Moore continued. “My opponent also stated that pensions are paid entirely with taxpayer money, which is also blatantly untrue. I paid 26 years into the retirement system, and my limited pension reflects only what I’ve contributed.”
Moore worked for 22 years in the environmental police and then four years as an assistant deputy superintendent in the sheriff’s office. After retiring in 2008 from the sheriff’s office, he received a pension and became a state senator.
“I chose not to defer my retirement or include my time in the legislature, a decision that has reduced my pension by 50 percent,” Moore said. “I am likewise one of the only legislators in the state who has refused creditable service towards retirement. I will never earn a higher pension for the rest of my life, and that’s a choice I made.”
Moore challenged Simonian to refuse earning retirement credit if elected to the legislature, as Moore has done.
“If my opponent is true to his word, and he believes in pension reform, I call on him to make that same pledge,” Moore said.
Comments (18)
One flaw in this math is you're assuming there is 0% rate of return. I think a more realistic view is to take the average return of the S&P 500 from 1986 to present. If you look at that, it's gone up 512%, an incredible run.
Lets not forget that the state pension system is managed and invested in things like hedge funds and private equity, which often returns much higher than the market. Of course there are down times like in 2008, but over the longer period like 1986 to now, it's gone up substantially.
Also bear in mind in a normal scenario the employer provides a "match" or portion of the pension liability as well. So those contributions should be considered.
It's not out of the question that $1.5M is an entirely reasonable amount, considering compounding.
I do think ability to retire early (in 40s) with full benefits is somewhat unusual today. OTOH talk to Verizon employees in that age bracket or state corrections officer or others like postal employees and you'll find quite a few who do just this.
They played by the rules and took advantage 20+ years ago by deciding to work where they did. When that's done in business we defend it as American way but when its public service it's another story. I think complaining about it now is a bit late and sounds like sour grapes.
Many S&P500 companies do the same for retirement programs for their employees. Commonwealth of Mass would be considered a S&P500 company by revenue at $50B. It's another argument if it should be or not.
On double dipping, what we'd be saying is public service is different than say, starting a business, dealing in real estate or doing another job while collecting a pension. Again in that case there are numerous examples - this is what many people do who accept early retirement. That is a matter of debate though for public servants.
Citizens for Responsible Governing has every right to post his/her opinions here as we all do. That being said, Mike Moore has every right to absolutely mop the floor with this Tea Bagger Simonian. It won't even be close.
GREAT NEWS in the MAIL TODAY. One of us just got a social security statement. If she keeps contributing to social security until she is 70 (about 40 years to go) she will be eligible for about $2,000 a month in benefits.
I can see she is imagining retiring at 40 for and drawing more than three times that much in a pension for 40 years
We leave it to the voter to apply their common sense.
How many of you get to retire at 40, collect a government pension while taking the opportunity to build a new career in government.
What happens after Senator Moore Serves for 20 more years in a different pension classification?
As far as the previous question relative to the $3000 annual contribution and a annual return on investment.
Making an assumption a reasonable and average 7% rate of return compounding on an annual contribution of $3000 the total contribution after 20 years, a whopping: $122,986.47 or about 3.51 years of his current benefit package.
@citizens is not informed at all. In fact, they didnt even read the story....taxpayers arent paying for the Senators pension and he is NOT earning retirement credit as a Senator. Couldnt even get those two things right. How many other people would cap their pension? Senator Moore has done great things for his district, and he's cut his pension in half. I wonder if Simonian will refuse retirement credit as well...
so is Simoninan going to turn down the retirement credit as Moore has done?
I, for one, would like to thank @Citizen for posting the truth about the Senator talking out of both sides of his mouth. I guess we have all become so complacent about corruption that we just give the guy a pass! This has got to stop!
It us a very sad day when we let a public servant get away with voting in only his best interests, and we as a community look away. All in the spirit of: "Well, we should expect to be screwed by politicians!"
Lib2012,
Are you suggesting that he is corrpupt for lawfully collecting a pension that he earned, or lawfully collecting a salary that he earns now?
More importantly...should anyone who holds public office deny compensation, even if rather modest, entirely? Wouldn't the end result of that policy lead to only the wealthiest among us holding public office? Is that the policy you are supporting? Or is this simply an opportunity to make some nasty remarks. If you have evidence of your accusations of corruption the public deserves to hear them.
If you don't...the public deserves to know that, too.
Lib2012, how is he talking outside both sides of his mouth? He's always disclosed his pension and even by his own words "It does not, as my opponent has stated, prevent state employees from seeking a new occupation after retirement, as is my case"
Why would you fire an individual so dedicated to his constituents and one that does his job so well? Senator Mike Moore is one of the most devoted public servants I have ever had the pleasure to call upon to help with individuals and businesses alike. He works tirelessly, 7 days a week and is a rare breed that actually does what he says he going to do, and if he does not have the answer, he finds out who does and makes a personal reference. Many small business owners in the Blackstone Valley have Senator Moore to thank for opening doors to help them do better business, and to keep watch that the laws created are favorable to business. Senator Mike has the courage and initiative to speak up when changes needed to be made, as well as the follow through to see that any injustice is corrected (the unjust fines made to small business owners relating to health insurance were corrected because Senator Moore spoke up for this correction-just one example of many) And it is not just business. Individuals have related to me that they have contacted Senator Moore and within an hour their call is returned and he truly listened and found a solution to their problem. So I ask, isn't this what a public servant is supposed to do? So many look from the sidelines and think that another's positon is so glamourous and they can do better. It would take an extremely dedicated and caring individual to try to fill Senator Moore's shoes. And honestly, I just don't see it in Steve Simonian.
@ citizen, you seem like a reasonably intelligent person, lets use small numbers so I can follow along. If Moore put $3000 of his own money in his retirement fund 30 years ago and an average return of 5% per annum what would it be worth today?
Irony I think you make a good point, but before we start calculating the numbers let's get to the bottom of the policy or ideals. Why is it wrong for a public servant to earn a pension, and collect a pension, and continue to work (especially in another form of public service)? Is Mr. Simonian or Citizens suggesting that Mr. Moore has somehow prevented others from doing the same? If so, what is the specific legislation?
I think Mr. Moore could have been more clear in his answer. He stated that the legislation he signed "extended the retirement age." That just means people who are ready, willing, and able can work longer. I don't see anything that prevents them from collecting the pension they earned, or getting another job as the other candidate suggests.
My main point is that there are some nasty allegations in this article, but not one single reference that an informed voter can look to to corroborate those allegations. That's very concerning.
The powerful impact of free speech and public discourse is fatally undermined by the cowardice of accusatory, annonymous rants on the internet. Nowithstanding the cowardice of such actions, what is the problem with a state employee getting a pension after such a long period of service? Mike Moore was a state servant for over twenty years when he could have made far more money in the private sector.
Speaking of transparency, how do the two candidates compare in that regard? What does Mr. Simonian do for work and where is he employed currently?
A quick goolge search of "Citizens for Responsible Governing" reveals a number of posts on this website, and nothing more.
There is no record of this "group" registered with the Secretary of State, either.
I hope the founder will consider also founding a group called "Citizens for Responsible Research before Posting Information on the Internet."
Moore retired under a system, he built his lifestyle decisions around it. However, to not acknowledge that is is broken... We need Citizens who will Govern Responsibly!
If you get the chance ask Senator Moore if he will disclose the following immediately:
1. How much he personally contributed over his 20 years of employment to "pension".?
2. What is the estimated total funds he will draws over his life.
3. How much did he make in total salary over his career as environmental cop?
3. Why is pension reform good for cops, firefighters, and teachers but not him and others like him?
You will find that
If Senator Moore made $75,000 (which as an environmental cop he didn't at the start) a year over 20 years he made in total $1,500,000.
His pension returns will be higher than his entire salary for 20 in all three of the previously explained scenarios.
Even at $1.5 Million if Moore contributed 20% of his salary it is still only $300,000 in contributions.
It is shameful that Steve Simonian will say anything in this election to try and get elected .
Steve, how about YOU paying the town of Auburn back for your health insurance. That was OUR money.
The money Moore put into his retirement was HIS money, lets see a chart of the future value of the money he's contributed for 25 or so years.
And Moore wants us to thank Him!? How arrogant and out of touch.
$35,000 = 28,000 Salary + $7,000 <- (benefits)
Year @ 40 Yrs @72 Yrs @62 Yrs
1 40 $35,000.00 $0.00 $0.00
2 41 $35,000.00 $0.00 $0.00
3 42 $35,000.00 $0.00 $0.00
4 43 $35,000.00 $0.00 $0.00
5 44 $35,000.00 $0.00 $0.00
6 45 $35,000.00 $0.00 $0.00
7 46 $35,000.00 $0.00 $0.00
8 47 $35,000.00 $0.00 $0.00
9 48 $35,000.00 $0.00 $0.00
10 49 $35,000.00 $0.00 $0.00
11 50 $35,000.00 $0.00 $0.00
12 51 $35,000.00 $0.00 $0.00
13 52 $35,000.00 $0.00 $0.00
14 53 $35,000.00 $0.00 $0.00
15 54 $35,000.00 $0.00 $0.00
16 55 $35,000.00 $0.00 $0.00
17 56 $35,000.00 $0.00 $0.00
18 57 $35,000.00 $0.00 $0.00
19 58 $35,000.00 $0.00 $0.00
20 59 $35,000.00 $0.00 $0.00
21 60 $35,000.00 $0.00 $50,000.00
22 61 $35,000.00 $0.00 $50,000.00
23 62 $35,000.00 $0.00 $50,000.00
24 63 $35,000.00 $0.00 $50,000.00
25 64 $35,000.00 $0.00 $50,000.00
26 65 $35,000.00 $0.00 $50,000.00
27 66 $35,000.00 $0.00 $50,000.00
28 67 $35,000.00 $0.00 $50,000.00
29 68 $35,000.00 $0.00 $50,000.00
30 69 $35,000.00 $0.00 $50,000.00
31 70 $35,000.00 $75,000.00 $50,000.00
32 71 $35,000.00 $75,000.00 $50,000.00
33 72 $35,000.00 $75,000.00 $50,000.00
34 73 $35,000.00 $75,000.00 $50,000.00
35 74 $35,000.00 $75,000.00 $50,000.00
36 75 $35,000.00 $75,000.00 $50,000.00
37 76 $35,000.00 $75,000.00 $50,000.00
38 77 $35,000.00 $75,000.00 $50,000.00
39 78 $35,000.00 $75,000.00 $50,000.00
40 79 $35,000.00 $75,000.00 $50,000.00
41 80 $35,000.00 $75,000.00 $50,000.00
42 81 $35,000.00 $75,000.00 $50,000.00
43 82 $35,000.00 $75,000.00 $50,000.00
44 83 $35,000.00 $75,000.00 $50,000.00
45 84 $35,000.00 $75,000.00 $50,000.00
46 85 $35,000.00 $75,000.00 $50,000.00
47 86 $35,000.00 $75,000.00 $50,000.00
48 87 $35,000.00 $75,000.00 $50,000.00
49 88 $35,000.00 $75,000.00 $50,000.00
50 89 $35,000.00 $75,000.00 $50,000.00
51 90 $35,000.00 $75,000.00 $50,000.00
$1,785,000.00 $1,575,000.00 $1,550,000.00
Just using estimated arbitrary numbers;
If Senator Moore's pension is $35,000 year and he started drawing it at 45 years old and he draws it until he is 75 years old (about average life expectancy for a human male) The cost to tax payers is $1,050,000 over the next 25 years.
If this were Social Security (RULES THE REST OF LIVE UNDER) the earliest Moore could begin receiving benefits is 62 and that would be at a drastically prorated amount. He would not be eligible for full benefits until he was 72.
$75,000 at 62 - the total payout would be $975,000
$250,000 at 72 - the total payout would $750,000
Senator is collecting a pension, being paid a full time salary for part time hours and building his second state funded pension as a Senator and he expects us to THANK HIM !!!
As a Citizen for Responsible Governing: I don't think this is responsible for the tax payers. Elected office should be a privilege not a Personal Financial Windfall.
Time to stop Senator Moore's chance to draw another pension and FIRE HIM in November.