About - MTRS

The Board and its Duties

The Massachusetts Teachers’ Retirement Board administers the Massachusetts Teachers’ Retirement System (MTRS). The Board is composed of seven members chosen in accordance with the enabling statute of the MTRS:

the Massachusetts State Treasurer or his or her designee
the Auditor of the Commonwealth of Massachusetts or his or her designee
two members who are elected by the active and retired members of the system,
one member—who must be a retired teacher—who is appointed by the Governor,
one member who is chosen by the vote of the other six, and
the last member and the Board’s chairperson is the Massachusetts Commissioner of Elementary and Secondary Education or his or her designee.

Excepting the chairperson, State Treasurer and State Auditor, each member serves a four-year term. The length of the chairperson’s term depends upon the term of office of the Commissioner of Elementary and Secondary Education. The Board, which meets at least once a month,

votes on every disability retirement allowance,
investigates all claims for accidental and ordinary disabilities,
establishes the rules and regulations of the agency, and
oversees the dissemination of services and information to its membership of more than 93,000 active educators and over 66,000 retirees and survivors.

About the Board and its members

Dr. Ventura Rodriguez
Chair, effective March 16, 2020
Senior Associate Commissioner for Strategic Initiatives, Department of Elementary and Secondary Education

Dr. Ventura Rodriguez serves as Senior Associate Commissioner for Strategic Initiatives at the Massachusetts Department of Elementary and Secondary Education (DESE), where he leads a team that partners with stakeholders to identify, design, pilot, and elevate strategies that advance educational equity for Massachusetts students–particularly those traditionally or currently underserved. Current initiatives led by Dr. Rodriguez’s team include efforts to diversify the educator workforce in Massachusetts.

Prior to his current role, Dr. Rodriguez led DESE’s Statewide System of Support, setting policy and programming to support the state’s lowest performing schools and districts. In this role, he helped launch state receivership efforts in Holyoke and Southbridge, and helped create the Springfield Empowerment Zone Partnership (SEZP), a ground-breaking collaboration between ESE, Springfield Public Schools, and the SEZP Board intended to turnaround 8 low performing middle schools in Springfield, MA. Dr. Rodriguez currently serves as a board member on the Lawrence Alliance for Education (LAE), the state-appointed receiver for the Lawrence Public Schools.

Dr. Rodriguez began his career as a high school Spanish and humanities teacher in San Francisco and Nairobi, Kenya and was the founder and Executive Director of St. HOPE Leadership Academy, a public charter school in Harlem.

Dr. Rodriguez holds a BA in history from the University of San Francisco, a MA of Education from San Francisco State University, and is a graduate of the Doctor of Education Leadership program (Ed.L.D.) at the Harvard Graduate School of Education.

Deborah B. Goldberg
Treasurer, Commonwealth of Massachusetts;
Chair, Pension Reserves Investment Management Board (PRIM );
Chair, State Retirement Board; and
Teachers’ Retirement Board member since January 21, 2015

Deborah B. Goldberg is the Massachusetts State Treasurer and Receiver General. In that role she is responsible for the state’s cash and debt management, unclaimed property, and chairs state boards and commissions, including the Massachusetts School Building Authority, the Pension Reserves Investment Management Board, the State Board of Retirement, Massachusetts State Lottery Commission, and the Massachusetts Clean Water Trust. In 2015, she established the new Office of Economic Empowerment, the first of its kind in the country, and chairs its Economic Empowerment Trust Fund. Treasurer Goldberg also serves on the Executive Committee of the National Association of State Treasurers.

As a former businesswoman and local elected leader, Treasurer Goldberg brings innovative leadership, disciplined fiscal management and an unwavering commitment to uphold economic stability and create opportunity for every Massachusetts resident. Treasurer Goldberg served for six years on the Brookline Board of Selectmen, including two as its Chair. Prior to her career in public service, she worked in retail operations, buying, and consumer affairs at The Stop & Shop Companies, Inc.

Treasurer Goldberg is the President of Adoptions with Love and serves on the Advisory Board of the Greater Boston Food Bank. She was one of the founders of Berkshire Hills Music Academy, a school for individuals with intellectual disabilities, and is a trustee at Beth Israel Deaconess Medical Center, a Director at Affiliated Physicians Group/BIDHC. Treasurer Goldberg has been actively involved with numerous philanthropic activities, including The Grow Clinic, the 100 Club, Planned Parenthood League of Massachusetts, and the Combined Jewish Philanthropies.

A graduate of Boston University, Boston College Law School and Harvard Business School, Ms. Goldberg lives in Brookline with her husband Michael Winter and their son, Evan, and daughter, Meredith.

Nicola Favorito
Vice Chair, State Treasurer’s designee
Executive Director, State Retirement Board
Appointed February 3, 2003

Mr. Favorito serves as the Executive Director of the Massachusetts State Retirement Board which administers the State Retirement System on behalf of more than 50,000 retired and 83,000 active members. As an attorney, Mr. Favorito previously practiced in the areas of public employee retirement law, education, and municipal law. Mr. Favorito is a graduate of Boston Latin School, Harvard College and Suffolk University Law School.

Suzanne M. Bump
Auditor, Commonwealth of Massachusetts;
Teachers’ Retirement Board member
Since January 19, 2011

Suzanne M. Bump, the 25th Auditor of the Commonwealth, and the first female to serve in this role in the state’s history, was sworn into office in January 2011.

Upon taking office, Auditor Bump sought to modernize and professionalize her office by instituting training programs, encouraging employees to earn professional certifications, and developing a career ladder program to support employee professional development.

Bump expanded the use of technology throughout the agency, and championed the development and utilization of advanced data analytics capabilities to identify waste, fraud, and abuse throughout government.

Prior to her election, Auditor Bump served in former Governor Deval Patrick’s cabinet as Secretary of Labor and Workforce Development and represented the Town of Braintree for eight years in the Massachusetts House of Representatives. In the private sector, she worked as a business advocate, legal counsel, and sat on the boards of numerous non-profit organizations including the South Shore Chamber of Commerce and St. Francis House.

Auditor Bump currently chairs the Municipal Finance Oversight Board, serves on the board of the Public Employee Retirement Administration Commission, the Massachusetts Teachers’ Retirement System, the Executive Committee of the National State Auditors Association, and is a past president of the Association of Governmental Accounting’s Boston Chapter. In 2016, she was appointed to serve on the U.S. Government Accountability Office’s Domestic Working Group to advise the Comptroller General.

A native of Whitman, Auditor Bump attended Cardinal Spellman High School and is a graduate of Boston College and Suffolk University School of Law.

Michael P. Ruane
State Auditor’s designee
Deputy General Counsel, Office of the State Auditor
Appointed March 2018

Michael P. Ruane serves as the Deputy General Counsel for the Office of the State Auditor, Suzanne M. Bump. Prior to working for the State Auditor, Mr. Ruane maintained his own private law practice, focusing primarily on criminal and civil litigation. Prior to working in his own private practice, Mr. Ruane served as an Assistant District Attorney in Essex County prosecuting criminal matters. Mr. Ruane is a graduate of St. John’s Preparatory School. He holds a Bachelor of Arts degree from the University of Notre Dame, a Master of Arts degree from Saint John’s Seminary, and a Juris Doctor degree from Suffolk University Law School.

Dennis J. Naughton
Elected by the Membership
Term expires December 31, 2023
Board-elected member to the PRIM Board

Dennis Naughton was elected to the Board in December 2011. He began his career as a public school educator in the Millis Public Schools in 1968, where he served as a high school social studies teacher for 33 years, as well as social studies department head and golf coach. During that time he served on the New England Association of Schools and Colleges (NEASC) evaluating teams at Concord-Carlisle Regional High School, Manchester High School (now Manchester Essex High School) in Manchester-by-the-Sea, and University Park Campus School in Worcester. He served as principal of Millis High School from 2001 to his retirement in 2004.

From 1977 to 1997, Mr. Naughton served as president of the Millis Teachers Association. He also served several terms on both the Board of Directors and Executive Committee of the Massachusetts Teachers Association . Since his retirement, he served as interim assistant principal at Norton High School in 2005-2006, and as interim principal at Douglas High School in 2009.

Mr. Naughton is actively involved as a retired life member of the Massachusetts Teachers Association and the National Educational Association. He holds an A.B. in History from Saint Anselm College and an M.A.T. in History from Assumption College. Mr. Naughton resides in Foxborough.

Jacqueline A. Gorrie
Elected by the Membership
Term expires December 31, 2023

Jacqueline Gorrie was elected to the Board in December of 2015. Jackie began and ended her 36 year teaching career in the Taunton Public Schools as a Second Grade teacher and a Kindergarten Teacher.

As a lifelong public school educator, Jackie’s advocacy for her profession and her students led her to many leadership roles within her Union. Locally, she served as the Public Relations and Political Action Chairperson, the Secretary, Vice President/ Grievance Chairperson and President of the Taunton Education Association. Her community activism led her to her state and national activism as a member of the Massachusetts Teachers Association Board of Directors and subsequently as a member of the National Education Association Board of Directors.

Currently, Jackie represents retired members of the Massachusetts Teachers Association on the MTA Board of Directors and is a member of the MTA Retired Members Committee. She is also on the Finance Committee and the St. Vincent De Paul Committee for her parish.

A resident of Randolph, Jackie continues to be an active advocate for retiree issues in both the MTA and NEA. Jackie holds a BA from Bridgewater State College and an M.ed from Cambridge College.

Richard L. Liston
Appointed by the Board
Term expires January 31, 2024

Appointed to the Board in January 2012, Mr. Liston was a special education teacher in the Everett Public Schools for 40 years and served as the president of the Everett Teachers Association for 27 years. He currently represents retired members of the Massachusetts Teachers Association on the MTA Board and is co-chair of the MTA Retired Members Committee. Mr. Liston holds a B.A. and M.A. in special education from Fitchburg State University.

Anne Wass
Appointed by the Governor
Anne Wass, former president of the 107,000-member Massachusetts Teachers Association , is a champion of students, public schools and public higher education.

Mrs. Wass has spent all of her adult life in public education and has served in many leadership positions. She taught sixth grade at the Hanover Middle School for 31 years. She has served on the MTA Board of Directors and state Executive Committee, and she has been president of her local association in Hanover at two different times. Mrs. Wass was MTA president from 2006 until 2010. Before taking office as president, she served as the association vice president for four years.

Teaching is Mrs. Wass’ passion, and she has won a number of awards honoring her abilities as a teacher. These awards include the Bristol County Educators’ Association Kathleen Roberts Human Relations Award, the Plymouth County Education Association’s Honor Award and the Loretta Quinlan Award, the highest honor bestowed by the PCEA. She also won the first MTA Friend of Labor Award and the Louise Gaskins Lifetime Civil Rights Award. She received the Salem State University Friend of Education Award in 2010.

Board meeting agendas and minutes

2020

July 31, 2020	Agenda
June 26, 2020	Agenda and minutes of open session
May 29, 2020	Agenda and minutes of open session
April 24, 2020	Agenda and minutes of open session
March 27, 2020	Agenda and minutes of open session
February 28, 2020	Agenda and minutes of open session
January 31, 2020	Agenda and minutes of open session

2019

December 13, 2019	Agenda and minutes of open session
November 22, 2019	Agenda and minutes of open session
October 25, 2019	Agenda and minutes of open session
September 20, 2019	Agenda and minutes of open session
August 22, 2019	Agenda and minutes of open session
July 26, 2019	Agenda and minutes of open session
June 21, 2019	Agenda and minutes of open session
May 31, 2019	Agenda and minutes of open session
April 26, 2019	Agenda and minutes of open session
March 29, 2019	Agenda and minutes of open session
February 22, 2019	Agenda and minutes of open session
January 25, 2019	Agenda and minutes of open session

2018

December 14, 2018	Agenda and minutes of open session
November 16, 2018	Agenda and minutes of open session
October 26, 2018	Agenda and minutes of open session
September 28, 2018	Agenda and minutes of open session
August 24, 2018	Agenda and minutes of open session
July 27, 2018	Agenda and minutes of open session
June 22, 2018	Agenda and minutes of open session
May 25, 2018	Agenda and minutes of open session
April 27, 2018	Agenda and minutes of open session
March 23, 2018	Agenda and minutes of open session
February 23, 2018	Agenda and minutes of open session
January 26, 2018	Agenda and minutes of open session

For Board agendas and/or meeting minutes prior to January 2018, please contact us at geninfo@trb.state.ma.us.

Proudly serving Massachusetts educators since 1914

Established on July 1, 1914, the Massachusetts Teachers’ Retirement System is the largest of the Commonwealth’s 104 contributory retirement systems. We provide retirement, disability and survivor benefits to more than 94,000 active educators and over 67,000 retirees and survivors.

Mission statement

To ensure that members of the Massachusetts Teachers’ Retirement System achieve and maintain a successful and secure retirement through responsible benefits administration, financial integrity and the provision of outstanding services.

So reads our mission statement. If you have any questions about MTRS benefits or our services—or have any feedback or suggestions for us at any time—please let us know. We are here to serve you!

Type of plan

The MTRS is a defined benefit retirement plan that operates as a qualified plan under section 401(a) of the Internal Revenue Code. Under the MTRS defined benefit plan, retirement benefits are determined according to a set formula, and the amount is guaranteed regardless of fluctuations in the pension fund’s performance; retirement benefits are payable for a retiree’s lifetime.

Governance

The MTRS is governed by the Massachusetts Teachers’ Retirement Board, which is comprised of seven members.

Membership

Eligibility for membership in the MTRS is primarily determined by the definition of “teacher” in M.G.L. c. 32, §1. However, other sections of Chapter 32, Chapter 71 §89(y), as well as the MTRS regulation on membership eligibility also set out criteria for membership. In general, individuals employed as teachers or administrators in a Massachusetts public school outside of the City of Boston, or in any educational collaborative or charter school in Massachusetts (and who meet the eligibility requirements) are required to become members of the MTRS.

Eligibility requirements for superannuation retirement benefits

Tier 1 members (effective membership date before April 2, 2012): EITHER age 55 with a minimum of 10 years of creditable service, OR any age with a minimum of 20 years of creditable service
Tier 2 members (effective membership date on or after April 2, 2012): Age 60 with a minimum of 10 years of creditable service

Actuarial data as of 1/1/2019

MTRS Facts at a glance: For highlights of the system’s demographics, funding, investment performance and benefits paid to Massachusetts residents by county, see our one-page MTRS Facts at a glance, 2019

Active members	94,103
Average age	43.6
Average annual salary	$75,183

Benefit recipients	67,110
Average age	73
Average annual benefit	$45,145
Total annual benefits paid	$3.02 billion

Source: PERAC Actuarial Valuation Report 2019

Asset management

The assets of the MTRS are managed by the Pension Reserves Investment Management (PRIM) Board.

Oversight

The MTRS and all Massachusetts public contributory retirement systems are overseen by the Public Employee Retirement Administration Commission (PERAC).

M.G.L. Chapter 15, Sec 16. Teachers’ Retirement Board

There shall be a teachers’ retirement board for the purpose of administering the teachers’ retirement system established under the provisions of chapter 32. Such board shall consist of seven members as follows: the commissioner of education, or his designee, who shall be a member ex officio and who shall serve as chairman, the state treasurer, or his designee, the state auditor, or his designee, a fourth member who shall be appointed by the governor for a term of four years and who shall be a retired former public school teacher within the commonwealth, two members who shall be elected by the members in or retired from service of such system from among their number in such manner and for such term, not exceeding four years, as the commission shall determine, and a seventh member who shall be chosen by the other six for a term of four years. Future elections of the fifth and sixth members shall be held under the supervision of such retirement board and the terms of the fifth and sixth members shall be arranged so as not to expire in the year of expiration of the term of the seventh member. If a seventh member is not chosen by the other six members within 30 days after the expiration of the term of the seventh member, the governor shall appoint a seventh member for a term of four years. Each member of such retirement board shall continue to hold office until the expiration of his term and until the qualification of his successor. Upon the expiration of the term of office of any elected, chosen or appointed member or in case of a vacancy in either of said offices, a successor shall be elected, chosen or appointed as aforesaid for a four-year term or for the unexpired portion thereof, as the case may be, except that in no event shall the term of the seventh member expire in the same year as the term of either the fifth or sixth member.

The Massachusetts Teachers’ Retirement System is governed by Massachusetts General Laws, Chapter 32, as well as regulations contained in the Code of Massachusetts Regulations (CMR).

The Massachusetts Teachers’ Retirement System is a contributory retirement system governed by the Commonwealth’s retirement law, Chapter 32 of the Massachusetts General Laws. The MTRS, which is the largest of the Commonwealth’s 104 contributory retirement systems, provides retirement, disability and survivor benefits to Massachusetts teachers, administrators and their families.

The MTRS is a defined benefit retirement plan intended to provide a meaningful retirement benefit to the employee who has chosen a career in public service. It operates as a qualified plan under section 401(a) of the Internal Revenue Code.

Your MTRS benefits

Your MTRS benefits are very important to your financial future—the MTRS is your retirement plan. During your retirement, your MTRS pension may be your greatest financial asset. The plan provides the following types of benefits to eligible members:

Regular
Disability retirement benefits (ordinary and accidental)
Survivor and accidental death benefits (if you die while you are an active member)

Under the MTRS “defined benefit” plan, your retirement benefit is determined according to a set formula, and the amount is guaranteed regardless of fluctuations in the pension fund’s performance. Likewise, your benefit amount is payable for your lifetime.

In contrast, a “defined contribution” plan is dependent on the contributions made by the employee, and possibly by the employer, and the growth of those assets over time as they are invested in the financial markets. A defined contribution plan is very susceptible to fluctuations in the market; nothing is guaranteed.

Notice: While reasonable efforts have been made to assure the accuracy of this information, this is an unofficial version of the MTRS regulations, and is for informational use only. For the official, printed version, please contact the State Bookstore (see http://www.sec.state.ma.us/spr/sprcat/catidx.htm for more information).

807 CMR Regulations

About your benefits and the MTRS “defined benefit” plan

Regular “service” retirement benefits
Disability retirement benefits ordinary and accidental)
Survivor and accidental death benefits (if you die while you are an active member)

How your MTRS benefits are funded

The funding for your MTRS benefit comes from three sources:

Employee contributions: your retirement contributions to the MTRS during your membership;
State (“Employer”) contributions: the Commonwealth makes an annual appropriation from tax revenues to help finance public employee retirement benefits. Unlike in most other states, local school district employers do not contribute toward their teachers’ retirement benefits. Instead, for purposes of retirement benefits, the Commonwealth is the “employer” for public school teachers.
Investment earnings: the earnings on the Pension Reserves Investment Trust (PRIT) Fund, which holds the assets of the system and is managed by the Pension Reserves Investment Management (PRIM) Board.

Note: MTRS members who leave service before retirement and take a refund from the system only receive their own employee contributions and eligible interest; they receive no employer contributions.

About the PRIT fund

The Pension Reserves Investment Trust (PRIT, a pooled investment fund established to invest the pension reserve assets of the Massachusetts State Employees’ and Teachers’ Retirement Systems) is managed by the Pension Reserves Investment Management (PRIM) Board. PRIM’s mandate is to accumulate assets through investment earnings and other revenue sources in order to reduce the Commonwealth’s unfunded pension liability and to assist local participating retirement systems in meeting their future pension obligations.

The PRIM Board consists of nine elected and appointed members. The MTRS is well represented, as three of these members are:

a member of our Board, who is selected by the other Board members (currently, Dennis J. Naughton );
an active or retired member of the MTRS, who is elected by the MTRS membership (currently, Robert Brousseau, a retired educator of the Wareham Public Schools); and
the State Treasurer, who is a member ex officio of both the MTRS Board and the PRIM Board, and who serves as Chairman of the PRIM Board (currently, Deborah B. Goldberg ).

For information on the PRIT Fund’s investment performance, see the latest quarterly PRIM Board update , monthly summary of plan performance or visit PRIM’s website.

GASB reporting: FY2020

The MTRS has been working with representatives from the State Comptroller’s office, the Public Employees’ Retirement Administration Commission (PERAC), and KPMG to issue the GASB Statement No. 68 schedules for the fiscal year ended June 30, 2019 to be used by our employer units in their FY2020 financial statements. GASB Statement No. 68 requires the Commonwealth to provide certain “on behalf” pension information to Massachusetts cities and towns whose teachers’ pensions the Commonwealth is responsible for funding.

Above is a link to the GASB Statement No. 68 Report which includes attestations from the Commonwealth’s independent auditor.

If you have any questions about the GASB Statement No. 68 Report or the individual schedules, please contact Michael Rodino of the State Comptroller’s office, at michael.rodino@mass.gov, or Sean Neilon, Assistant Executive Director of the MTRS, at sean.neilon@trb.state.ma.us.

Historical Reference:

2019 Annual Statement of the Financial Condition of the MTRS

To the Public Employee Retirement Administration Commission for the year ended June 30, 2019.

Q&A – Funding and System Sustainability: A Companion to the Annual Statement of the Financial Condition of the MTRS for Active Members and Retirees.

The MTRS has prepared, as a companion to the Annual Statement of the Financial Condition, questions and answers regarding system funding and debt, the system’s current health and long-term sustainability, and what it means to active members and retirees.

The MTRS, then known as the Teachers’ Retirement Association, was established as part of Chapter 832 of the Acts of 1913, signed on June 19, 1913. The legislation had a tumultuous history: in 1911, a bill asking for enactment of a teachers’ retirement system failed to pass the Legislature passed a resolve which asked the Board of Education to decide whether such a system would work. In response, the Board presented recommendations with Chapter 832, the bill that created the MTRB, effective July 1, 1914.

Over the past 105 years, the MTRS has seen economic depression and booms, two World Wars, and countless numbers of retirees and active members. The organization has had three names—Massachusetts Teachers’ Retirement “Association,” “Board,” and, finally, “System” (though “Board” remains the term for the Board itself).

MTRS Executive Directors

Edmund S. Cogswell, Executive Secretary, 1914-1916

Cogswell managed a clerical staff of two and received a yearly stipend of $2,000 for his services.

Clayton L. Lent, Executive Secretary, 1916-1960
When he retired, the MTA wrote that Lent was known as “Mr. Retirement” to thousands of Massachusetts educators because of his long and distinguished career.

Joseph B. Carroll, Executive Secretary, 1960-1975

Mary Silva, Acting Executive Secretary, 1975-1977
For two years, the system ran solely on the diligence and hard work of its employees. Staff member Mary Silva, a TRB legend with over 40 years of retirement experience, served as Acting Secretary from 1975 to 1977.

Joel Goober, Executive Secretary, 1977-1979

Daniel Kelly, Executive Secretary, 1979-1984

Thomas Lussier, Executive Director, 1984-2003
Lussier changed the identity of the agency by expanding its mission: In addition to computing retirement benefits, the MTRB would now reach out to members to educate them on their rights and benefits.

Joan Schloss, Executive Director, 2003-2014

Erika M. Glaster, Executive Director, 2014-present

Milestones

1913
Chapter 832 of the Acts of 1913, which calls for the creation of the Teachers’ Retirement Association, is proposed. Though Governor Foss’s approval is unlikely (“Veto of School Teachers’ Retirement bill probable,” reports The Boston Globe), he signs the bill.

1914
The Teachers’ Retirement Association opens its doors on July 1. The agency is housed at 616 Somerset Street, a few blocks from the State House.

George F. Wilson, teacher in the Beverly and Wakefield school districts, retires as the first Teachers’ Retirement System retiree.

1916
Edmund S. Cogswell, the first Executive Secretary of The Teachers’ Retirement Association, retires. The Board appoints Clayton L. Lent, who holds the position for 44 years, the longest tenure of any Executive Secretary or Executive Director.

1931
The Teachers’ Retirement Association moves a few doors down to 20 Somerset Street.

1934
The agency moves again, this time to 100 Nashua Street, on a lot that now houses the Nashua Street Jail.

1945
The State Legislature passes Chapter 658, which creates a uniform retirement law for all public employees.

1950s
The office moves to 88 Broad Street, near Rowes Wharf.

1970s
The membership of the Teachers’ Retirement System doubles between 1958 and 1970, but the Commonwealth’s budget does not keep pace. The system struggles in this period. Because of budgetary and staffing constraints, bookkeeping and retirement processing suffers.

1975
Longtime MTRB staff member Mary Silva becomes Acting Secretary.

1977
New Executive Director Joel Goober works with Teachers’ Retirement Board Chairman John Kearney to improve the system.

1980s
The MTRB begins to turn around. By the start of the decade, some member records are computerized, some retirement functions are automated, and statements are on time.

After several more moves, the MTRB settles at One Ashburton Place, where it stays until 1995.

1984
Thomas Lussier becomes Executive Director. Lussier expands the MTRB’s mission to include education for members, a priority that remains in place today.

1988
The MTRB opens its first Western Regional Office, in Chicopee.

Due to an economic downturn, the Board’s budget is slashed by 15.5%, and staff is reduced by 35%. Governor Dukakis proposes eliminating the MTRB by incorporating it with other agencies.

1995
The MTRB’s main office moves to Canal Street.

2000
Our Western Regional Office moves to Springfield.

2001
“RetirementPlus,” which provides an enhanced benefit after 30 years of service—and increases the contribution rate to 11%—takes effect.

2002
The State Treasurer and State Auditor joined our Board.

2003
Joan Schloss becomes Executive Director and reaffirms the agency’s commitment to member education.

2006
The MTRB moves to One Charles Park in East Cambridge, and changes its name to the Massachusetts Teachers’ Retirement System.

2007
MTRS membership surpasses the membership of the State Retirement System, and the MTRS becomes the largest of the Commonwealth’s then 105 retirement systems.

2011
Chapter 176 of the Acts of 2011, commonly known as “Pension Reform III,” is passed. Among many changes, the bill increases interest rates for certain types of service purchases, allows some retirees to receive credit for past maternity leaves, and, in order to ensure financial security of the system for future generations, creates a second Membership Tier that provides lesser benefits for new members.

2014
The MTRS celebrates its 100th anniversary.

By a unanimous vote, the Board appoints Erika Glaster as the agency’s ninth Executive Director

2016
The main office moves from Cambridge to Charlestown’s Hood Park, the former headquarters of New England dairy company H.P. Hood.

2019
The MTRS proudly celebrates 105 years of service to Massachusetts educators—including our now more than 161,000 active, inactive and retired members and their beneficiaries! As part of our 105th anniversary celebration, we were honored to interview Mary Madden, a 105 year-old MTRS retiree.