Members - 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 …

Background

The RetirementPlus (R+) program increases retirement benefits for eligible and participating members who have completed 30 years of service (at least 20 of which are membership service with the MTRS or the Boston Retirement System as a teacher), and subject to the statutory maximum of 80 percent, as follows:

for members with effective membership dates before April …
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Transferring service from another board

Posted on January 23, 2018 by William Culbert

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 …
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Pre-retirement Issues

Posted on January 23, 2018 by wpadmin

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 program …
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