RetirementPlus (R+) Special Election is Underway
Eligible MTRS members received election packets in the mail and now have a final, one-time opportunity to participate in or opt-out of RetirementPlus (R+) by June 30, 2023.
This final, one-time special R+ election is a result of Chapter 134 of the Acts of 2022 and applies only to members who transferred into the MTRS from one of the other 103 MA public pension systems between 7/1/2001 and 6/30/2022 (e.g., a teacher aide who became a teacher), and failed to make their R+ election during their original election period.
Last week, your Superintendent received an email with a list of your election eligible employees. You can review the eligibility criteria and more on the MTRS R+ resource center.
Members who do not respond to the election by June 30, 2023, will NOT be enrolled in the R+ program and should not be contributing 11% to the MTRS.
PLEASE NOTE: Even if an employee is currently contributing at 11%, they are not enrolled in R+ because they never made their required R+ election. Thus, it is critical that you remind members that they must complete and submit their election no matter what their current contribution rate is. If they don’t respond, they will not have another chance to participate in R+ and will not be eligible for the enhanced R+ benefits. Even if their intention is not to participate in R+, they must still respond and opt-out.
If MTRS members have questions regarding the new law and its potential impact, please have them visit the MTRS website and the R+ Resource Center for details or email us at RetirementPlus@trb.state.ma.us.
R+ Employer Training Webinars
The MTRS will conduct two R+ Election Employer Training webinars for school district HR and Payroll staff on Wednesday, February 1, at 9:00 AM and again on Tuesday, February 7, at 9:00 AM. Registration is now open via the RetirementPlus employer training registration form.
We very much appreciate your assistance with this process and look forward to seeing you at one of the training webinars.