Members Archives - Page 2 of 3 - MTRS

Why creditable service is important

Creditable service:

is one of the three factors used to calculate the amount of your retirement benefit (the other two are your age and final salary average); and,
determines whether you are "vested" for purposes of receiving a retirement benefit.

At the time of your retirement, we will review and …

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I am participating in RetirementPlus. What does this mean for my retirement benefit?
I am not participating in RetirementPlus because I elected not to participate (or I didn’t submit a timely election form). Can I elect in now?
How do I know …
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Transfers

Pursuant to M.G.L. c.32, if you are a public employee in the state of Massachusetts and work at least 50% of full-time, you are most likely eligible to contribute to one of the 104 public retirement systems (also referred to as retirement boards) across the state. If you change jobs, continue public service within …
Read more Transferring service from another board

Look ahead and be aware of these pre-retirement issues

Three notes to recent and soon-to-be retirees

While you are an active educator, your health insurance premiums may have been withheld on a pre-tax basis. Please note, however, that the IRS requires that retirees’ insurance premiums be withheld on an after-tax basis.'
Regardless of the group insurance …
Read more Pre-retirement Issues