Nominations for the Teachers’ representative to the Pension Reserves Investment Management (PRIM) Board will be open from November 15, 2019 to January 24, 2020. The PRIM Board is responsible for investing and managing the Pension Reserves Investment Trust (PRIT) Fund, which is used to assist the Commonwealth and participating local plans in funding their pension liabilities.…

Read more Notice of PRIM Board election and nomination period

The FY2020 budget, signed into law by the Governor on July 31, 2019, included a cost-of-living adjustment (COLA) for our retirees of 3% on the first $13,000 of the benefit, for a maximum increase of $390 per year, or $32.50 per month (3% x $13,000 = $390/year; $390/year divided by 12 months = $32.50/month). Since…

Read more FY2020 COLA will be paid in August benefit payment, retroactive to July 1

Nomination period opens August 1 As you may know, the Massachusetts Teachers’ Retirement Board is comprised of seven members, two of whom are elected by the members of the Massachusetts Teachers’ Retirement System for four-year terms. Since the terms of our incumbent elected members expire later this year, the Board has scheduled an election for…

Read more Call for nominations–MTRS Board election to be held this fall

In an open letter to MassRetirees (the Retired State, County and Municipal Employees Association of Massachusetts), Congressman Richard Neal (D-MA), Chairman of the House Ways and Means Committee, announced his intention to file a “revised” bill in the summer of 2019 aimed at reforming the Social Security Windfall Elimination Provision (WEP). Like all public employees…

Read more Social Security WEP offset reform: Congressman Neal to file “revised” bill, summer 2019