William Culbert - MTRS - Page 3

As you know, there are federal and state limits on the amount of pensionable earnings ("regular compensation") that can be used in computing benefits for active members of public retirement systems with effective membership dates after 12/31/1995.

What this means for employers

For any members with effective membership dates listed below, DO NOT take MTRS deductions on any …

Read more Note the 2023 pensionable earnings limits for employees with membership dates after 12/31/1995

Understanding the COLA on your August benefit statement

The Governor signed the FY2024 budget into law on August 9th. The budget includes a cost-of-living adjustment (COLA) effective July 1, 2023, providing a 3% increase on the first $13,000 of your retirement benefit. This results in a maximum increase of $390 per year or $32.50 per month …

Read more COLA update: Governor Healey signs FY24 budget; COLA included in August benefit payment

Due to a system error, files must be in Validated with Errors status in order to make corrections

We have learned that MyTRS is currently not allowing employers to fix deduction report import files with the status of Processed with Errors. If you currently have an imported file with the status of Processed with Errors that needs correction, please …

Read more Process workaround for correcting deduction reports that have the import status Processed with Errors

The one-time opportunity for eligible members to make a RetirementPlus participation decision has ended as of June 30, 2023

On August 3, 2022, then Governor Charlie Baker signed into law Chapter 134 of the Acts of 2022 which--among other changes to how RetirementPlus is implemented for MTRS members--allowed for  members who had 1) transferred-in service …

Read more RetirementPlus special election has ended

MAIN OFFICE

500 Rutherford Avenue, Suite 210

Charlestown, MA 02129

Phone: 617-679-6877

Fax: 617-679-1661


SPRINGFIELD OFFICE

One Monarch Place, Suite 510

Springfield, MA 01144

Phone: 413-784-1711

Fax: 413-784-1707

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