Call for nominations: PRIM Board election coming up
Nominations for the Teachers’ representative on the Pension Reserves Investment Management (PRIM) Board will be open from November 15, 2007 to January 14, 2008. 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.

Benefit recipients: Please note that the 3% COLA for FY2008 will be included in your July 2007 payment
As you probably know, the Governor and Legislature have approved a 3% cost-of-living adjustment (COLA) for FY2008. Effective July 1, 2007, the COLA allows an increase of 3% on the first $12,000 of the retirement benefit, for a maximum increase of $360/year or $30/month. Members who retired on or before June 30, 2006 are eligible for this COLA.

For information on how to read your direct deposit statement or pension check stub, please see Your check stub or direct deposit statement.