The Massachusetts Teachers’ Retirement System is the largest of the Commonwealth’s 104 contributory retirement systems. We provide retirement, disability and survivor benefits to more than 90,000 active educators and over 63,000 retirees and survivors. We’re glad to have you as a visitor and encourage you to browse often!
Notice of February Board meeting
Please note that the Massachusetts Teachers' Retirement Board will hold its next meeting on Friday, February 24, 2017, at 9:00 a.m. in the Board Room of its Charlestown office, at 500 Rutherford Avenue, Suite 210, Charlestown, MA. Meetings are generally held on the last Friday of the month unless otherwise noted. For discussion topics, see the meeting agenda . For information on past meetings, see Board meeting agendas and minutes.
Benefit recipients: Watch your mailbox for your 1099-R and Benefit Verification forms
As of Monday, January 30, all 1099-R tax statements and Benefit Verification forms were in the mail to our more than 63,000 benefit recipients. Accordingly, if you received a retirement or survivor benefit payment from the MTRS in calendar year 2016, then you should receive your 1099-R tax statement and your Benefit Verification form together in the same envelope in the mail soon.
This mailing includes the pension payment schedule for 2017. If you do not receive your tax form by Wednesday, February 15, please call our Charlestown office at 617-679-6877 to request a duplicate. As noted in the instructions included with your forms, please be sure to complete and return your Benefit Verification form, in the pre-addressed envelope that is provided, by Friday, March 31, 2017.
Benefit recipients: Your federal tax withholding may have changed with your January payment
The Internal Revenue Service updated the federal tax withholding tables for 2017. If you have federal taxes withheld from your monthly benefit:
- based on the IRS tax tables (i.e., your marital status and the number of exemptions claimed), beginning with your January payment, you may see a change in your net benefit amount because your tax withholding changed under the new table. Additionally, if you receive your payment via direct deposit, you will receive a mailed statement for January because your net amount changed from last month.
- as either a fixed dollar amount or as a percentage of your gross benefit, your tax withholding was not affected by this change in the IRS tables.
For additional information, please see Taxation of your benefit.
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. 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.