The new legislation, Chapter 134 of the Acts of 2022, allows eligible members who transferred into the MTRS from another Massachusetts contributory retirement system a final, one-time opportunity to make a definitive choice, either to:
- participate in RetirementPlus, or,
- opt-out of participating in RetirementPlus.
This new election period runs from January 1, 2023 – June 30, 2023. Like previous RetirementPlus elections, a member’s choice will be irrevocable once made.
Members who do not respond by June 30, 2023, will NOT be enrolled in the R+ program and should not be contributing 11% to the MTRS. The MTRS will communicate member rate changes directly to Employers. Election materials will be mailed to the home address of eligible members in early January 2023.
As a reminder, this election is only for eligible Active and Inactive members who:
- were not a part of the original election window in 2001, AND
- transferred into the MTRS from one of the other 103 Massachusetts public retirement systems between July 1, 2001 and June 30, 2022, AND
- have not yet submitted an election.
Employer assistance needed
The MTRS has identified eligible members. However, for some members we do not have critical contact data (mailing address, email address and phone number). Please keep an eye out for direct contact from the MTRS requesting help in obtaining this information in the coming weeks.
Note that an election to participate may result in contribution rate changes. The MTRS will continue to communicate additional details to employers as they become available.
Questions
If MTRS members have questions regarding the new law and its potential impact, please have them visit the MTRS website and the RetirementPlus (R+) Resource Center for details or email us at RetirementPlus@trb.state.ma.us.