The Massachusetts Teachers’ Retirement System is the largest of the Commonwealth’s 105 contributory retirement systems. We provide retirement, disability and survivor benefits to more than 88,000 active educators and 59,000 retirees and survivors. We’re glad to have you as a visitor and encourage you to browse often!
Attention all benefit recipients: Important notice regarding your November payment
Unfortunately, due to human error on our part, this month's checks and direct deposit statements were incorrectly dated November 30, and not November 29, as they should have been.
If you receive your payment via DIRECT DEPOSIT:
- Your November benefit payment—which should have been deposited into your account on Friday, November 29—will not be transferred into your account until MONDAY, DECEMBER 2.
- If you incur bank fees as a result of the delay in the electronic transfer of your November MTRS benefit to your bank account, the MTRS will reimburse you. To submit a claim, please complete our one-page Benefit Recipient Reimbursement Claim Form .
If you receive your payment via PAPER CHECK: Your check will not be payable until Saturday, November 30.
As many of you will recall, a similar situation occurred in May 2012, and measures were implemented to prevent that particular problem from happening again. However, what happened this month is a result of our oversight, and unrelated to that situation. Be assured that we are taking this very seriously, and will take steps to ensure that this does not occur in the future.
Please know that we are very sorry for this delay and any inconvenience it may cause you, and sincerely regret the error.
Dear Members, please bear with us during this extremely busy time!
If you're waiting to hear from us on a request for service, we ask that you please be patient. As noted in our August newsletter, we received more than 20,000 service purchase applications after Pension Reform III, and the record-setting volume has caused lengthy processing delays. Although we had anticipated a temporary increase in the number of applications—and increased staffing levels accordingly—the volume simply and significantly exceeded our projections.
We are very sorry for any delay you may experience, and ask that you please bear with us during what is an extremely busy time for our staff. Thank you in advance for your understanding and continued patience.
NOTE: If you are retiring within the next four to six months and you have one or more service purchase applications currently pending with us, please let us know so that we may give your service purchase requests priority.
Call for nominations: PRIM Board election coming up
Nominations for the Teachers' representative on the Pension Reserves Investment Management (PRIM) Board (www.mapension.com) will be open from November 27, 2013 to January 21, 2014. The PRIM Board is responsible for investing and managing all money placed in the Pension Reserves Investment Trust (PRIT) Fund which is used to fund public pension liabilities. Any active or retired member of the Teachers' Retirement System is eligible to run for election for this unpaid position, which has a term of three years. To obtain nomination papers or for more information, contact the MTRS at 617-679-6877.
IMPORTANT NOTICE FOR ACTIVE MEMBERS WHO FILED INCOMPLETE §3 SERVICE PURCHASE APPLICATIONS ON OR BEFORE APRIL 2, 2013
If you submitted only the "Part 1, member portion" of your §3 service purchase application on or before April 2, and:
- you have already submitted the "Part 2, employer portion" and any other documentation required to complete your application, thank you!
- your former employer was unable to provide you with the completed "Part 2, employer portion" prior to the October 2 deadline, please submit your completed "Part 2, employer portion" to our office as soon as you receive it, and also include a letter describing the steps that you took before October 2, 2013 to have your "Part 2" completed by your former employer.
After you submit your information, we will send you an e-mail or letter to acknowledge its receipt. If you have not heard from us yet, please be patient. As noted in our August newsletter, we received more than 20,000 service purchase applications after Pension Reform III, and this record-setting volume has resulted in unavoidable processing delays. Please bear with us during this extremely busy time—and thank you in advance for your understanding.