By January 31, all 1099-R tax statements will be mailed to all individuals who received a benefit payment from the MTRS in 2019. The first batches have begun mailing this week. Along with your tax form, you will receive an insert that includes information on how to read your 1099-R as well as the pension payment schedule…

Read more Benefit recipients: Watch your mailbox for your 1099-R tax form to arrive soon

If you are receiving a monthly benefit from the MTRS, look for your: Year-end statement, which the State Treasury sends at the end of December. This statement provides a summary of your benefit payments during 2019 and is simply for your reference. Questions? Please see how to read your check or direct deposit statement. 1099-R…

Read more Retirees: Watch for mail from us in December and January

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