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 Five tips for efficient year-end deduction reporting

The MTRS is hearing that due to the anticipated economic impact of the COVID-19 pandemic, school district employers may be considering local cost saving measures and wondering how they would impact their employees' retirement benefits. If your district is considering such measures, we encourage you to review the following information before finalizing contractual agreements affecting …

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 …

As the MTRS continues to provide essential services remotely, we appreciate your assistance in providing benefits to your employees and retirees during this difficult time.

New State and Federal laws impact post retirement restrictions and paid sick leave

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

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

New State and Federal laws impact post retirement restrictions and paid sick leave

Legislation temporarily changes earnings and hours restrictions for many retired public employees during the Massachusetts State of Emergency.

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