Programs - MTRS - Page 4

How to handle health insurance deductions for employees who are retiring at the end of the school year

Is your school district one of the districts that participate in the Group Insurance Commission's RMT program? If:

YES, then you should withhold premiums for any partial month and two full months following the employee’s retirement date, …
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GASB reporting: FY2024

The MTRS has been working with representatives from the State Comptroller's Office, the Public Employee Retirement Administration Commission (PERAC), and CliftonLarsonAllen (CLA) to issue the GASB Statement No. 68 schedules for the fiscal year ended June 30, …

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The Board and its Duties

The Massachusetts Teachers’ Retirement Board administers the Massachusetts Teachers’ Retirement System (MTRS). The Board is composed of seven members chosen in accordance with the enabling statute of the MTRS:

the Massachusetts State Treasurer or his or her designee
the Auditor of the Commonwealth of Massachusetts or his or her designee

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Retirement and survivor benefits are paid for time already accrued. In other words, the allowance that you receive at the end of January is the payment for January. As a reminder, you will not receive a direct deposit statement every month. Direct deposit statements are only mailed when...

your first direct deposit is made;
there is …
Read more Your benefit payment