Leslie Lovett - MTRS - Page 16

July payment will include a COLA of 3% on the first $13,000 of your benefit

As you may know, the Governor and Legislature have approved a cost-of-living adjustment (COLA) as part of the Commonwealth's FY2022 budget. Effective July 1, 2021, this COLA provides an increase of three percent on the first $13,000 of your retirement benefit, …

Read more FY2022 Cost-of-living adjustment approved

1. Employee receiving a lump sum payment? Set the pay duration to "LS" in your payroll software.

Change the pay duration field to "LS" in your payroll software prior to exporting your May deduction report to ensure that employees are setup correctly for the June report.

2. For any lump sum payment that requires a service correction …
Read more Annual tips for efficient year-end deduction reporting

Phishing alert–beware of email solicitations that reference the MTRS and offer “Retirement Reviews”

Unsolicited emails may be "phishing" attempts. The MTRS is not affiliated with, nor do we endorse any commercial companies.

We've recently been alerted of unsolicited emails to MTRS members offering appointments for "Employee Retirement Reviews" and have determined that these are likely Phishing …

Read more Phishing alert–beware of email solicitations that reference the MTRS and offer “Retirement Reviews”

1) Group insurance rate changes for July 1, 2021: Beat the rush!

If you have already submitted your group insurance rate changes for July, thank you. If not, immediately complete our Group Rate Premium Change form ASAP and email it to insuranceupdates@trb.state.ma.us.

Deadline reminder: For your July 1st group rate changes …

Read more Three retiree insurance reminders for the spring season

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