Employer News - MTRS - Page 3

1) Important: Send all group insurance rate changes for January 2024 premiums by 12/01/2023 for processing

The MTRS has temporarily hidden the Add Rates and Edit Rates buttons on the Insurance Rates screen in MyTRS. We are still working with our vendor to develop validations to prevent plan price changes from triggering billing errors. Thus, employers cannot add plan rates or edit plan rates at …

Read more Retiree Insurance–MTRS will process plan rate changes

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

Step 1: Review new hires and any staff changing jobs to determine if they may be eligible for MTRS membership

BEFORE you register your new hires in MyTRS, determine if they are eligible for MTRS membership by reviewing our eligibility criteria online. Employers should review the eligibility criteria in order to …

Read more Active employee registration: Three steps to setting up your MTRS eligible new hires in MyTRS

The MTRS has been working with representatives from the State Comptroller's Office, the Public Employee Retirement Administration Commission (PERAC), and CliftonLarsonAllen LLP (CLA) to issue the GASB Statement No. 68 schedules for the fiscal year ended June 30, 2022 to be used by our employer units in their FY2023 financial statements. GASB Statement No. 68 requires …

Read more Current GASB Report for MTRS employers now available

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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