• Active and inactive members  Benefit recipients
    (retirees and survivors)
    DateSubject lineDateSubject line
    11/14/14Reminder: MTRS "Ready for Retirement" seminars scheduled!8/11/14MTRS update: August 2014 issue of retiree newsletter now online
    10/23/14MTRS "Ready for Retirement" seminars to be offered in November and December7/28/14MTRS update: FY2015 COLA to be included in July 2014 payment
    8/11/14MTRS update: August 2014 issue of active member newsletter now online1/24/14MTRS update: Watch your mailbox for your 2013 tax form
    6/25/14MTRS update: Watch your mailbox for your 2013 annual statement!12/31/13MTRS update: December direct deposits were credited today, as scheduled; 2014 payment dates online
    4/18/14MTRS announces spring retirement seminars--Please come!12/23/13MTRS reminders: Watch for your year-end statement; no Benefit Verification process in 2014
    11/26/13MTRS update: Notice of PRIM Board election and nomination period11/29/13MTRS alert: Update on November benefit payments
    8/21/13MTRS update: Newsletter for active members now online11/26/13MTRS update: Notice of PRIM Board election and nomination period
    5/28/13MTRS update: Watch your mailbox for your 2012 annual statement!7/17/13MTRS update: FY2014 COLA to be included in July 2013 payment
    5/13/13MTRS retirement seminar update: Cambridge and Cape programs just added!6/26/13MTRS update: Watch your mailbox for your newsletter to arrive soon
    5/7/13MTRS retirement seminar reminder and updates; Worcester program just added!1/24/13MTRS update: Watch your mailbox for your 1099-R and Benefit Verification forms
    4/26/13MTRS announces spring retirement seminars--Please come!7/25/12MTRS update: FY2013 COLA to be included in July 2012 payment
    3/13/13MTRS last call: April 2 is the deadline to purchase §3 service at lower interest rate6/28/12MTRS update: Watch your mailbox for your newsletter to arrive soon
    2/15/13MTRS §3 service purchases at buyback interes: Member app portion due 4/2/2013; employer app portion due 10/2/20136/14/12MTRS update on May direct deposit delay: Treasurer’s form to request reimbursement for related fees now online
    12/20/12MTRS update: Watch for your 2010-11 account statement to arrive soon5/31/12MTRS alert: Update on May direct deposit benefit payments
    11/26/12Reminder: MTRS "Ready for Retirement" seminars scheduled!5/16/12MTRS announces upcoming programs for retired educators--Please join us!
    11/9/12MTRS announces programs for members retiring within the next year!5/9/12MTRS news: Update on increase in post-retirement earnings limit for re-employed MA public retirees
    6/28/12MTRS update: Watch your mailbox for your newsletter to arrive soon1/27/12MTRS update: Watch your mailbox for your 2011 tax form
    5/9/12MTRS update: Notice of increase in interest to be charged on certain service purchases beginning April 2, 2013  
    5/2/12Reminder: MTRS retirement programs to be held in May  
    4/18/12MTRS announces Spring retirement seminars--Please come!  

    Active and inactive members

    November 14, 2014

    Subject line: Reminder: MTRS "Ready for Retirement" seminars scheduled!

    Dear MTRS Member,

    As announced to you in an e-mail on October 23, we will be presenting our popular "Ready for Retirement" program in November and December for members who are retiring in 2015.

    This free, optional program is offered after school, 4-6 p.m., at various locations across the Commonwealth. During this nuts-and-bolts seminar, you will learn exactly what to do--and expect--as you go through the retirement process.

    Details and available programs are below; online registration at http://mass.gov/mtrs is required. If you're retiring in 2015, we hope you'll join us!

    With best wishes,
    Joan Schloss

    ==========
    Joan Schloss
    Executive Director
    Massachusetts Teachers' Retirement System
    One Charles Park, Cambridge, MA 02142-1206
    Main phone: 617-679-MTRS (6877)
    Fax: 617-679-1661
    http://mass.gov/mtrs

    ==========

    READY FOR RETIREMENT
    For members retiring in 2015

    The MTRS staff will be presenting our popular seminar, "Ready for Retirement," across the Commonwealth in November and December. "Ready for Retirement" is a free, optional, two-hour program (4-6 p.m.) designed for members retiring in 2015. We're reaching out to soon-to-be retirees before the retirement season starts so that when you begin the application process, you will know just what you need to do and when.

    Topics include:

    • the retirement application process and the benefit calculation formula,
    • timelines and service expectations,
    • first payment information,
    • health insurance, tax and working after retirement issues, and
    • cost-of-living adjustments after you retire.

    Please note: Personalized account information and pension estimates are not offered during these sessions.

    Space is still available in these locations:

    SOUTH YARMOUTH, Tuesday, November 18, Dennis-Yarmouth Regional High School auditorium
    AUBURN, Thursday, November 20, Auburn High School auditorium
    WOBURN, Thursday, November 20, Woburn High School auditorium
    NORTHAMPTON, Tuesday, November 25, Northampton High School auditorium
    IPSWICH, Tuesday, November 25, Ipswich High School auditorium
    HANOVER, Tuesday, December 9, Hanover High School auditorium
    NORTON, Tuesday, December 16, Norton Middle School auditorium

    To attend, simply register online at http://www.mass.gov/mtrs/register/r4r.html. We hope to see you soon!
    ===========


    October 23, 2014

    Subject line: MTRS "Ready for Retirement" seminars to be offered in November and December

    Dear MTRS Member,

    Are you ready for retirement? If you're retiring within the next year, please attend our seminar!

    One of our most popular programs, "Ready for Retirement" will be presented across the Commonwealth in November and December. During this nuts-and-bolts seminar, you will learn exactly what to do--and expect--as you go through the retirement process. This free, optional program is designed for members retiring in 2015, and is held after school, from 4 to 6 p.m.

    For program dates, locations and a link to our online registration information, please see below. If you're retiring in 2015, we hope you'll join us!

    With best wishes,

    Joan Schloss

    ==========
    Joan Schloss
    Executive Director
    Massachusetts Teachers' Retirement System
    One Charles Park, Cambridge, MA 02142-1206
    Main phone: 617-679-MTRS (6877)
    Fax: 617-679-1661
    http://mass.gov/mtrs
    ==========

    READY FOR RETIREMENT
    For members retiring in 2015

    The MTRS staff will be presenting our popular seminar, "Ready for Retirement," across the Commonwealth in November and December. "Ready for Retirement" is a free, optional, two-hour program (4-6 p.m.) designed for members retiring in 2015. We're reaching out to soon-to-be retirees before the retirement season starts so that when you begin the application process, you will know just what you need to do and when.

    Topics include:

    • the retirement application process and the benefit calculation formula,
    • timelines and service expectations,
    • first payment information,
    • health insurance, tax and working after retirement issues, and
    • cost-of-living adjustments after you retire.

    Please note: Personalized account information and pension estimates are not offered during these sessions.

    To attend, simply choose the date and location that is best for you, and then register online. Our simple online registration form is located at http://www.mass.gov/mtrs/register/r4r.html. We hope to see you soon!

    SOUTH YARMOUTH, Tuesday, November 18, Dennis-Yarmouth Regional High School auditorium
    AUBURN, Thursday, November 20, Auburn High School auditorium 
    WOBURN, Thursday, November 20, Woburn High School auditorium
    NORTHAMPTON, Tuesday, November 25, Northampton High School auditorium 
    IPSWICH, Tuesday, November 25, Ipswich High School auditorium
    CAMBRIDGE, Tuesday, December 2, MTRS Cambridge office
    CAMBRIDGE, Thursday, December 4, MTRS Cambridge office
    HANOVER, Tuesday, December 9, Hanover High School auditorium
    NORTON, Tuesday, December 16, Norton Middle School auditorium


    August 11, 2014

    Subject: MTRS update: August 2014 issue of active member newsletter now online

    Dear MTRS Member,

    Your August 2014 Advisor is now available at mass.gov/mtrs. Articles include:

    • MTRS leadership changing at the end of the year: Executive Director Joan Schloss retiring, Deputy Executive Director Erika Glaster appointed as successor
    • The MTRS turns 100: On July 1, our agency celebrated a century of service to educators
    • MTRS and PRIM Board updates
    • Quick updates: PRIM receives national award; an update on the number of service requests we have received, and our progress in processing service purchase applications

    Please note that, in an effort to be environmentally responsible and reduce administrative costs, we are making this issue available online only; it will not be mailed to our more than 107,000 active and inactive members.

    As always, if you have any questions about your retirement benefits, please don't hesitate to contact us. Enjoy the rest of the summer!


    June 25, 2014

    Subject: MTRS update: Watch your mailbox for your 2013 annual statement!

    Dear MTRS Member,

    On Wednesday, June 25, annual statements will be mailed to our more than 105,000 active and inactive members. Please watch your mailbox for your statement--which will reflect your MTRS annuity savings account balance through December 31, 2013--and be sure to review the information and instructions enclosed.

    For more information, please see FAQ: Your 2013 annual statement of annuity savings account. Additionally, if no beneficiary is listed on your statement, or if you want to change your current beneficiary designation, please download a Beneficiary Designation--Active Member form from our website.

    If you have any questions about your statement, please send an e-mail to us at mailto:annstmt@trb.state.ma.us.


    April 18, 2014

    Subject: MTRS announces spring retirement seminars--Please come!

    Dear MTRS Member,

    The Massachusetts Teachers' Retirement Board and staff are pleased to invite you to attend Your MTRS Benefits, our educational program for all members interested in learning about MTRS retirement benefits—whether you are a recent member, mid-career educator or soon-to-be retiree.

    Program dates and locations are below; space is limited, and registration is available on a first-come, first-served basis. Online registration is required for this program and is available at mass.gov/mtrs. Please take a moment to consider attending this valuable seminar--we hope you will join us!

    Sincerely,
    Joan Schloss

    ==========
    Joan Schloss
    Executive Director
    Massachusetts Teachers' Retirement System
    One Charles Park, Cambridge, MA 02142-1206
    Phone: 617-679-MTRS (6877)
    http://mass.gov/mtrs
    ==========

    Your MTRS Benefits

    Your MTRS Benefits is an optional, free, two-hour (4-6 p.m.) informal program for all members who want more information about MTRS retirement benefits--whether you are a recent member, mid-career educator or soon-to-be retiree. Topics include:

    • MTRS benefits and services,
    • estimating your retirement benefits under the regular and RetirementPlus formulas,
    • various issues you need to consider in retirement, including health insurance coverage, taxation of your retirement benefit, the rules on working after retirement, Social Security--and more!

    Program locations and dates:
    CAMBRIDGE, Monday, May 12; MTRS Main Office, Presentation Room
    HANOVER, Thursday, May 15; Hanover Center Elementary School auditorium
    NORTHAMPTON, Tuesday, May 20; Northampton High School auditorium
    SOUTH YARMOUTH, Tuesday, May 20; Dennis-Yarmouth Regional High School auditorium
    LEXINGTON, Wednesday, May 21; Lexington High School auditorium
    AUBURN, Tuesday, May 27; Auburn High School auditorium
    IPSWICH, Thursday, May 29; Ipswich High School auditorium
    CAMBRIDGE, Tuesday, June 3; MTRS Main Office, Presentation Room
    NORTON, Thursday, June 5; Norton Middle School auditorium

    To attend, simply register online at mass.gov/mtrs!

    ==========


    November 26, 2013

    Subject: MTRS update: Notice of PRIM Board election and nomination period

    Dear Active and Retired Members of the MTRS,

    Please be advised that 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 an unpaid board composed of seven appointed members and two elected members, and 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 qualify as a candidate, eligible MTRS members must submit completed nomination papers containing the valid signatures of at least 75 active or retired MTRS members. For more information, or to obtain the required nomination papers, contact the MTRS at 617-679-6877.


    August 21, 2013

    Subject: MTRS update: Newsletter for active members now online

    Dear MTRS Member,

    Your August 2013 Advisor is now available at mass.gov/mtrs. Please note that, in order to save printing and postage costs, this issue will be available online only, and will not be mailed to our more than 107,000 active and inactive members.

    Articles include:

    • "Pension Reform III" interest rate increase prompts record-setting influx of service purchase applications: Filings for the first seven months of 2013 increased 407% over the same period last year; please be patient as we process this unprecedented caseload.
    • A to-do checklist for active members, from enrollment to retirement: Know when to contact us, and what you should do to prepare for retirement throughout your career.
    • Survivor benefits: Q&A on the two types.
    • Pension costs nationwide: Contrary to popular belief, not a significant drain on state coffers.
    • Our System: A profile of our membership and an update on our funding status.
    • Post-retirement employment restrictions: Before returning to work with a Massachusetts public employer, know the rules.

    As always, if you have any questions about your retirement benefits, please don't hesitate to contact us.


    May 28, 2013

    Subject: MTRS update: Watch your mailbox for your 2012 annual statement!

    Dear MTRS Member,

    On Wednesday, May 29, annual statements will be mailed to our more than 107,000 active and inactive members. Please watch your mailbox for your statement--which will reflect your MTRS annuity savings account balance through December 31, 2012--and be sure to review the information and instructions enclosed.

    For more information, please see FAQ: Your 2012 annual statement of annuity savings account . Additionally, if no beneficiary is listed on your statement, or if you want to change your current beneficiary designation, please download a Beneficiary Designation--Active Member form from our website.

    Questions? Please call our main office Call Center at 617-679-6877, or e-mail us at mailto:annstmt@trb.state.ma.us.


    May 13, 2013

    Subject: MTRS retirement seminar update: Cambridge and Cape programs just added!

    Dear MTRS Member,

    With these additions, our schedule of "Your MTRS Benefits" programs is now complete:

    • South Yarmouth: Thursday, May 30, Dennis Yarmouth Regional High School auditorium, 210 Station Avenue
    • Cambridge: Tuesday, June 4, MTRS Cambridge office, 1st floor Presentation Room, One Charles Park
    • Cambridge: Thursday, June 6, MTRS Cambridge office, 1st floor Presentation Room, One Charles Park  

    Program details and remaining dates are below; online registration is required and is available at http://mass.gov/mtrs.

    We hope you will join us!

    Sincerely,
    Joan Schloss
     
    ==========
    Joan Schloss
    Executive Director
    Massachusetts Teachers' Retirement System
    One Charles Park, Cambridge, MA 02142-1206
    Phone: 617-679-MTRS (6877)
    http://mass.gov/mtrs
    ==========
     
    Your MTRS Benefits
    For members with effective membership dates prior to April 2, 2012
     
    Your MTRS Benefits is an optional, free, two-hour (4-6 p.m.) informal program for members who want more information about MTRS retirement benefits--whether you are a two-year member, mid-career educator or soon-to-be retiree. Topics include:

    • MTRS benefits and services,
    • estimating your retirement benefits under the regular and RetirementPlus formulas,
    • various issues you need to consider in retirement, including health insurance coverage, taxation of your retirement benefit, the rules on working after retirement, Social Security--and more!

    Program schedule

    WOBURN
    , Tuesday, May 14; Woburn High School auditorium

    WEST SPRINGFIELD, Thursday, May 16; West Springfield High School auditorium

    WEYMOUTH, Tuesday, May 21; Weymouth High School auditorium

    WORCESTER, Tuesday, May 21; Worcester Technical High School auditorium

    NORTON, Wednesday, May 22; Norton Middle School auditorium

    JUST ADDED: SOUTH YARMOUTH, Thursday, May 30; Dennis Yarmouth Regional High School auditorium

    JUST ADDED: CAMBRIDGE, Tuesday, June 4; MTRS Cambridge office, 1st floor Presentation Room

    JUST ADDED: CAMBRIDGE, Thursday, June 6; MTRS Cambridge office, 1st floor Presentation Room

    To attend, simply register online at http://mass.gov/mtrs.


    May 7, 2013

    Subject: MTRS retirement seminar reminder and updates; Worcester program just added!

    Dear MTRS Member,

    As we announced to you in an e-mail of April 26, we will soon be presenting "Your MTRS Benefits," our after-school, two-hour retirement education program for all members who want to learn about the MTRS retirement plan and benefits, and you're invited!

    Please note these updates:

    • Just added: Worcester, Tuesday, May 21, Worcester Technical High School auditorium, 1 Skyline Drive
    • Date changed: West Springfield presentation changed from Thursday, May 9 to Thursday, May 16; same location, West Springfield High School auditorium, 425 Piper Road
    • Coming soon: Presentations in Cambridge and on the Cape--watch your Inbox and our website for these dates and locations!  

    The updated program schedule is below; online registration is required and is available at http://mass.gov/mtrs.
     
    We hope you will join us!
     
    Sincerely,
    Joan Schloss
     
    ==========
    Joan Schloss
    Executive Director
    Massachusetts Teachers' Retirement System
    One Charles Park, Cambridge, MA 02142-1206
    Phone: 617-679-MTRS (6877)
    http://mass.gov/mtrs
    ==========
     
    Your MTRS Benefits
    For members with effective membership dates prior to April 2, 2012
     
    Your MTRS Benefits is an optional, free, two-hour (4-6 p.m.) informal program for members who want more information about MTRS retirement benefits--whether you are a two-year member, mid-career educator or soon-to-be retiree. Topics include:

    • MTRS benefits and services,
    • estimating your retirement benefits under the regular and RetirementPlus formulas,
    • various issues you need to consider in retirement, including health insurance coverage, taxation of your retirement benefit, the rules on working after retirement, Social Security--and more!

    Program schedule
    IPSWICH
    , Thursday, May 9; Ipswich High School auditorium
    WOBURN, Tuesday, May 14; Woburn High School auditorium
    NOTE DATE CHANGE: WEST SPRINGFIELD, Thursday, May 16; West Springfield High School auditorium
    WEYMOUTH, Tuesday, May 21; Weymouth High School auditorium
    JUST ADDED: WORCESTER, Tuesday, May 21; Worcester Technical High School auditorium
    NORTON, Wednesday, May 22; Norton Middle School auditorium
     
    With programs in Cambridge and on the Cape to be announced via e-mail and on our website!
     
    To attend, simply register online at http://mass.gov/mtrs.


    April 26, 2013

    Subject: MTRS announces spring retirement seminars--Please come!

    Dear MTRS Member,
     
    The Massachusetts Teachers' Retirement Board and staff are pleased to invite you to attend "Your MTRS Benefits," our retirement education program for all members who want to learn about the MTRS retirement plan and benefits. The current program schedule is below, and additional dates and locations will be announced via e-mail and on our website soon; online registration is required and is available at http://mass.gov/mtrs .
     
    Additionally, please note that, this year, we will not be offering "The Next Chapter," our all-day retirement planning program, due to the demands of implementing Pension Reform III. However, we expect to present it again next spring. 
     
    We hope you will join us!
     
    Sincerely,
    Joan Schloss
     
    ==========
    Joan Schloss
    Executive Director
    Massachusetts Teachers' Retirement System
    One Charles Park, Cambridge, MA 02142-1206
    Phone: 617-679-MTRS (6877)
    http://mass.gov/mtrs
    ==========
     
    Your MTRS Benefits
    For members with effective membership dates prior to April 2, 2012
     
    Your MTRS Benefits is an optional, free, two-hour (4-6 p.m.) informal program for members who want more information about MTRS retirement benefits--whether you are a two-year member, mid-career educator or soon-to-be retiree. Topics include:
     
    • MTRS benefits and services,
    • estimating your retirement benefits under the regular and RetirementPlus formulas,
    • various issues you need to consider in retirement, including health insurance coverage, taxation of your retirement benefit, the rules on working after retirement, Social Security--and more!
     
    Program schedule
    IPSWICH, Thursday, May 9; Ipswich High School auditorium
    WEST SPRINGFIELD, Thursday, May 9; West Springfield High School auditorium
    WOBURN, Tuesday, May 14; Woburn High School auditorium
    WEYMOUTH, Tuesday, May 21; Weymouth High School auditorium
    NORTON, Wednesday, May 22; Norton Middle School auditorium
    With additional dates and locations to be announced via e-mail and on our website!
     
    To attend, simply register online at http://mass.gov/mtrs.


    March 13, 2013

    Subject: MTRS last call: April 2 is the deadline to purchase §3 service at lower interest rate

    Dear MTRS Member,

    As a reminder, the hard-and-fast deadline for members to apply to purchase certain types of creditable service at the current, lower "buyback" interest rate of 4.125% is TUESDAY, APRIL 2, 2013. After April 2, 2013, the interest rate charged on these service purchases will double to "actuarial" interest, currently, 8.25%.
     
    What types of purchasable service are affected?

    • Buybacks of refunds from Massachusetts public retirement systems
    • Out-of-state public school teaching service
    • Substitute, temporary or part-time teaching or tutoring service in Massachusetts
    • Nonpublic private school service rendered prior to 1973
    • Other Massachusetts public service
    • Overseas dependent school teaching service

    What do I have to do to qualify for the lower interest rate of 4.125%?
     
    You must act by APRIL 2, 2013, as follows:

    • If you have NOT yet applied to purchase your service, you must submit at least the completed member portion of the service purchase application (Part 1) to the MTRS so that it is postmarked on or before APRIL 2, 2013. You will then have until October 2, 2013 to obtain and submit the completed employer portion (Part 2).
    • If you HAVE previously applied to purchase your service and been invoiced, but you have not yet paid for your purchase (either in full, or you are not currently paying for your purchase via our installment plan), and the last due date on your invoice has passed, you must submit a written request for an updated invoice to the MTRS so that it is postmarked on or before APRIL 2, 2013.

    For more information and service purchase application forms, please see our website at www.mass.gov/mtrs .


    February 15, 2013

    Subject: MTRS §3 service purchases at buyback interest: Member app portion due 4/2/2013; employer app portion due 10/2/2013

    Dear MTRS Member,

    As reported in our Advisor newsletter last June, pursuant to "Pension Reform III," the interest rate charged on certain service purchases will double from "buyback" interest (currently, 4.125%) to "actuarial" interest (currently, 8.25%) as of April 2, 2013—which is rapidly approaching.

    As a result, many members are seeking to purchase their prior service now, before the rate increase goes into effect, and school district payroll administrators have reported being inundated with urgent requests to document members' prior employment histories on our service purchase application forms. To help ease the administrative burden on school district officials, and also accommodate any members who still wish to qualify for the current "buyback" interest rate, our Board recently extended the time for members to submit the employer portion of their §3 service purchase application to October 2, 2013. Accordingly:

    If you are unable to submit your fully completed §3 service purchase application by April 2, 2013, you may still preserve your right to an initial invoice at the current, lower, "buyback" interest rate, by submitting at least the completed "member portion" of your service purchase application (generally, Part 1) to us so that it is postmarked on or before April 2, 2013, and then submitting the completed "employer portion" (generally, Part 2) no later than October 2, 2013.

    When you receive your initial invoice—which, because of the extremely high volume of service purchases we have received, may take up to 12 months—you will then have until 60 days from the date of that invoice either to pay for your purchase in full or to submit both your signed installment plan agreement and first annual installment payment together. If you either do not act by 60 days from the date of your invoice, or default on your installment agreement, and you later wish to purchase this service, you will be subject to the interest rate in effect at that time, which—after April 2, 2013—will be actuarial interest. (As a reminder, all purchases of service credit still must be completed prior to your date of retirement.)

    For a list of the types of service subject to the interest rate increase and more information, please see Types of purchasable service and application forms. If you have any questions, feel free to call us at 617-679-6877.


    December 20, 2012

    Subject: MTRS update: Watch for your 2010-11 account statement to arrive soon

    Dear MTRS Member,

    Please note that, beginning today, our vendor is mailing MTRS annuity account statements to our almost 107,000 active and inactive members. Please allow until January 11, 2013 for your statement to arrive and be sure to review it carefully.

    For more information on your statement and MTRS account, see “FAQs: About your 2010-11 statement of annuity savings account” at http://mass.gov/mtrs/active-and-inactive-members/your-annuity-savings-account/faqs.html. Additionally, if no beneficiary is listed on your statement, or if you want to change your current beneficiary designation, please download a “Beneficiary Designation—Active Member form” from our website at http://mass.gov/mtrs/docs/active/f020bda.pdf.

    If you have any questions about your statement, please contact our main office at 617-679-6877, or send an e-mail to us at mailto:annstmt@trb.state.ma.us.


    November 26, 2012

    Subject: Reminder: MTRS "Ready for Retirement" seminars scheduled!

    Dear MTRS Member, 

    As announced to you in an e-mail on November 9, we will be offering our popular “Ready for Retirement” program across the Commonwealth in the coming weeks. If you are retiring within the next year, please come!



    During this nuts-and-bolts seminar, you will learn exactly what to do—and expect—as you go through the retirement process. This free, optional program is designed specifically for members retiring in 2013, and is held after school, from 4 to 6 p.m.



    For all available program dates, locations and a link to our online registration information, please read the information below. If you’re retiring in 2013, we hope you’ll join us!



    With best wishes,

    Joan Schloss

    ==========

    Joan Schloss

    Executive Director

    Massachusetts Teachers’ Retirement System

    One Charles Park, Cambridge, MA 02142-1206

    Main phone: 617-679-MTRS (6877)

    Fax: 617-679-1661

    http://mass.gov/mtrs

    ==========



    READY FOR RETIREMENT

    For members retiring in 2013



    The MTRS staff will be presenting our popular seminar, “Ready for Retirement,” across the Commonwealth in November and December. “Ready for Retirement” is a free, optional, two-hour program (4-6 p.m.) designed for members retiring  in 2013. We’re reaching out to soon-to-be retirees before the retirement season starts so that when you begin the application process, you will know just what you need to do and when.



    Topics include:


    * the retirement application process and the benefit calculation formula,

    * timelines and service expectations,

    * first payment information,

    * health insurance, tax and working after retirement issues,

    * cost-of-living adjustments after you retire, and

    * recent changes to Massachusetts pension law and what they mean for you.



    Please note: Personalized account information and pension estimates are not offered during these sessions.



    To attend, simply choose the date and location that is best for you, and then register online. Our simple online registration form is located at http://www.mass.gov/mtrs/register/r4r.html. We hope to see you soon!

    HYANNIS, Thursday, November 29, Barnstable High School Knight auditorium 

    WEST SPRINGFIELD, Thursday, November 29, West Springfield High School auditorium
    WOBURN, Tuesday, December 4, Woburn High School auditorium
    AUBURN, Wednesday, December 5, Auburn High School auditorium 
    
IPSWICH, Thursday, December 6, Ipswich High School auditorium
    CAMBRIDGE, Monday, December 10, MTRS Cambridge office (PROGRAM FULL)
    WEYMOUTH, Thursday, December 13, Weymouth High School auditorium
    CAMBRIDGE, Monday, December 17, MTRS Cambridge office
    FOXBOROUGH, Tuesday, December 18, Foxborough High School auditorium


    November 9, 2012

    Subject: MTRS announces programs for members retiring within the next year!

    Dear MTRS Member, 

    Are you ready for retirement? If you are retiring within the next year, please come to one of our “Ready for Retirement” seminars!

    One of our most popular programs, “Ready for Retirement,” will be presented across the Commonwealth in November and December. During this nuts-and-bolts seminar, you will learn exactly what to do—and expect—as you go through the retirement process. This free, optional program is designed for members retiring in 2013, and is held after school, from 4 to 6 p.m.

    For program dates, locations and a link to our online registration information, please see below. If you’re retiring in 2013, we hope you’ll join us!

    With best wishes,

    Joan Schloss

    ==========

    Joan Schloss

    Executive Director

    Massachusetts Teachers’ Retirement System

    One Charles Park, Cambridge, MA 02142-1206

    Main phone: 617-679-MTRS (6877)

    Fax: 617-679-1661

    http://mass.gov/mtrs

    ==========

    READY FOR RETIREMENT

    For members retiring in 2013

    The MTRS staff will be presenting our popular seminar, “Ready for Retirement,” across the Commonwealth in November and December. “Ready for Retirement” is a free, optional, two-hour program (4-6 p.m.) designed for members retiring in 2013. We’re reaching out to soon-to-be retirees before the retirement season starts so that when you begin the application process, you will know just what you need to do and when.

    Topics include:


    • the retirement application process and the benefit calculation formula,

    • timelines and service expectations,

    • first payment information,

    • health insurance, tax and working after retirement issues,

    • cost-of-living adjustments after you retire, and

    • recent changes to Massachusetts pension law and what they mean for you.

    Please note: Personalized account information and pension estimates are not offered during these sessions.

    To attend, simply choose the date and location that is best for you, and then register online. Our simple online registration form is located at http://www.mass.gov/mtrs/register/r4r.html. We hope to see you soon!

    LEE, Tuesday, November 20, Lee Middle and High School auditorium

    HYANNIS, Thursday, November 29, Barnstable High School Knight auditorium 

    WEST SPRINGFIELD, Thursday, November 29, West Springfield High School auditorium
    WOBURN, Tuesday, December 4, Woburn High School auditorium
    AUBURN, Wednesday, December 5, Auburn High School auditorium 

    IPSWICH, Thursday, December 6, Ipswich High School auditorium
    CAMBRIDGE, Monday, December 10, MTRS Cambridge office
    WEYMOUTH, Thursday, December 13, Weymouth High School auditorium
    CAMBRIDGE, Monday, December 17, MTRS Cambridge office
    FOXBOROUGH, Tuesday, December 18, Foxborough High School auditorium


    June 28, 2012

    Subject: MTRS update: Watch your mailbox for your newsletter to arrive soon

    Dear MTRS Member,

    Please watch your mailbox for your Advisor newsletter to arrive soon. Articles include:

    • Pension Reform III: What it means for MTRS members
    • Board updates: Farewell to departing members, welcome to new representatives
    • Our System: A profile of our membership and an update on our funding status
    • The MTRS defined benefit plan: Good for you, good for the state

    Or, if you'd prefer, access this issue online now at mass.gov/mtrs.

    As always, if you have any questions about your retirement benefits, please contact us at 617-679-6877 or mailto:geninfo@trb.state.ma.us.


    May 9, 2012

    Subject: MTRS update: Notice of increase in interest to be charged on certain service purchases beginning April 2, 2013

    Dear MTRS Member,

    As we told you via e-mail last December, on November 18, 2011 Governor Deval Patrick signed Chapter 176 of the Acts of 2011, “An Act Providing for Pension Reform and Benefit Modernization,” or what is commonly known as “Pension Reform III.” The third pension reform measure passed in the last three years, Chapter 176 changed certain rules affecting current active members, increased benefits for certain retirees and survivors, and significantly changed the benefit structure for new members who enroll in a Massachusetts public retirement system, or who re-enroll after taking a refund, on or after April 2, 2012.

    Now that Chapter 176 is in effect and we have received clarification on how it is to be implemented, I am writing to make you aware of the “service purchase interest increase” provision so that, if you are affected, you may plan now to take action.

    For our current members, pursuant to this new provision, the interest rate charged on certain service purchases will double from “buyback interest” (now 4.125%) to “actuarial interest” (now 8.25%), unless you apply to purchase the service before April 2, 2013 and either pay for the purchase in full or commit to an installment agreement before April 2, 2013, or the invoice due date, whichever is later. On and after April 2, 2013, you will be charged actuarial interest.

    Accordingly, if you have previously rendered any of the below-listed types of service that you may be eligible to purchase toward your retirement benefit calculation, you may want to apply for your service purchases before April 2, 2013 so that you may qualify for the lower, buyback interest rate of 4.125%.

    The service purchases subject to this provision are those for:

    • refund buybacks (which are the repayment, with interest, of funds withdrawn by members from their former Massachusetts public retirement systems),
    • Massachusetts substitute, temporary or part-time teaching or tutoring service,
    • out-of-state public teaching service,
    • teaching service rendered at a U.S. Department of Defense overseas dependent school,
    • nonpublic, private school teaching service prior to 1973 (out-of-state or in Massachusetts), and
    • other Massachusetts nonmembership public employment.

    For details on this provision, including examples of buyback and actuarial interest charges, links to our downloadable service purchase forms and an overview of how Chapter 176 affects all MTRS members, visit our website at http://www.mass.gov/mtrs. If you have any questions, please contact us at mailto:geninfo@trb.state.ma.us.


    May 2, 2012

    Subject: Reminder: MTRS retirement programs to be held in May

    Dear MTRS Member,

    Are you too busy to plan for your future? Here is what some of our members who have attended the Next Chapter program had to say...



    “The information was thorough and presented in a manner that was exceptionally easy to follow and understand. Having the booklet to take home and refer to will be very helpful.”

    

"The information on MTRS benefits, health care info and estate planning was most valuable. This program should be given to newer teachers.”



    “There are lots of issues to consider in deciding when to retire. We can start now to plan appropriately.”



    As we recently announced to you in an e-mail of April 18, we are presenting our popular “Next Chapter” and “Your MTRS Benefits” educational seminars across the Commonwealth in the coming weeks, and we hope that you can join us to learn more about your retirement benefits. Both programs are described in detail below; space is limited, and registration is available on a first-come, first-served basis. Online registration is required for all of these programs and is available at http://mass.gov/mtrs. 

    We hope to see you at one--or both--of these programs!



    Sincerely,

    Joan Schloss

    ==========



    Your MTRS Benefits

    For members with effective membership dates prior to April 2, 2012



    Your MTRS Benefits is an optional, free, two-hour (4-6 p.m.) informal program for members who want more information about MTRS retirement benefits--whether you are a two-year member, mid-career educator or soon-to-be retiree. Topics include:

    • an update on recent pension reform legislation affecting current members,
    • MTRS benefits and services,
    • estimating your retirement benefits under the regular and RetirementPlus formulas,
    • various issues you need to consider in retirement, including health insurance coverage, taxation of your retirement benefit, the rules on working after retirement, Social Security--and more!

    Program locations and dates:


    CAMBRIDGE, Tuesday, May 8; MTRS Main Office, Presentation Room
 (Registration closed; program full)
    WEST SPRINGFIELD, Tuesday, May 8; West Springfield High School auditorium

    IPSWICH, Thursday, May 10; Ipswich High School auditorium

    WOBURN, Tuesday, May 15; Woburn High School auditorium

    LEE, Thursday, May 17; Lee Middle and High School auditorium

    WEYMOUTH, Tuesday, May 22; Weymouth High School auditorium

    AUBURN, Thursday, May 24; Auburn High School auditorium

    BARNSTABLE, Thursday, May 24; Barnstable High School, Knight Auditorium

    MANSFIELD, Tuesday, May 29; Mansfield High School auditorium

    CAMBRIDGE, Thursday, May 31; MTRS Main Office, Presentation Room

 (Just a few seats still available!)

    To attend, simply register online at http://mass.gov/mtrs!



    ==============



    The Next Chapter

    The Next Chapter is our award-winning retirement planning program for members who are 5 to 15 years from retirement, but it is a valuable seminar for any educator working on a retirement plan. We encourage members to bring their spouse or companion.



    This all-day, comprehensive retirement planning program features expert speakers who address many retirement issues, including:

    • Financial planning
    • Estate planning
    • Social Security for the Massachusetts educator
    • Your MTRS benefits

    Registration info:

    • MARLBOROUGH BEST WESTERN HOTEL, Saturday, June 2, 9 a.m. - 4:30 p.m. (doors open at 8:00 a.m.)
    • Registration fee: $35 per person, which includes a continental breakfast, lunch and refreshments.
    • Space is limited, and registration will be accepted on a first-come, first-served basis.
    • To attend, register online at http://mass.gov/mtrs by Thursday, May 24.

    We are confident you will find The Next Chapter Program to be an informative and enjoyable day, as well as a valuable resource in your personal retirement planning. We hope you will join us!



    April 18, 2012

    Subject: MTRS announces Spring retirement seminars--Please come!

    Dear MTRS Member,

    The Massachusetts Teachers' Retirement System and staff are pleased to invite you to attend one--or both--of our upcoming retirement programs:

    • Your MTRS Benefits (10 dates at locations across the Commonwealth): For members who are interested in learning more about their retirement plan and benefits.
    • The Next Chapter (Saturday, June 2, Marlborough Best Western): Our popular all-day retirement planning program for members 5 to 15 years from retirement.

    The details on both programs are below; space is limited, and registration is available on a first-come, first-served basis. Online registration is required for all of these programs and is available at http://mass.gov/mtrs. Please take a moment to consider attending one of these valuable seminars--we hope you will join us!



    Sincerely,

    Joan Schloss

    ==========



    Your MTRS Benefits

    For members with effective membership dates prior to April 2, 2012



    Your MTRS Benefits is an optional, free, two-hour (4-6 p.m.) informal program for members who want more information about MTRS retirement benefits--whether you are a two-year member, mid-career educator or soon-to-be retiree. Topics include:

    • an update on recent pension reform legislation affecting current members,
    • MTRS benefits and services,
    • estimating your retirement benefits under the regular and RetirementPlus formulas,
    • various issues you need to consider in retirement, including health insurance coverage, taxation of your retirement benefit, the rules on working after retirement, Social Security--and more!

    Program locations and dates:


    CAMBRIDGE, Tuesday, May 8; MTRS Main Office, Presentation Room

    WEST SPRINGFIELD, Tuesday, May 8; West Springfield High School auditorium

    IPSWICH, Thursday, May 10; Ipswich High School auditorium

    WOBURN, Tuesday, May 15; Woburn High School auditorium

    LEE, Thursday, May 17; Lee Middle and High School auditorium

    WEYMOUTH, Tuesday, May 22; Weymouth High School auditorium

    AUBURN, Thursday, May 24; Auburn High School auditorium

    BARNSTABLE, Thursday, May 24; Barnstable High School, Knight Auditorium

    MANSFIELD, Tuesday, May 29; Mansfield High School auditorium

    CAMBRIDGE, Thursday, May 31; MTRS Main Office, Presentation Room



    To attend, simply register online at http://mass.gov/mtrs!



    ==============



    The Next Chapter

    The Next Chapter is our award-winning retirement planning program for members who are 5 to 15 years from retirement, but it is a valuable seminar for any educator working on a retirement plan. We encourage members to bring their spouse or companion.



    This all-day, comprehensive retirement planning program features expert speakers who address many retirement issues, including:

    • Financial planning
    • Estate planning
    • Social Security for the Massachusetts educator
    • Your MTRS benefits

    Registration info:

    • MARLBOROUGH BEST WESTERN HOTEL, Saturday, June 2, 9 a.m. - 4:30 p.m. (doors open at 8:00 a.m.)
    • Registration fee: $35 per person, which includes a continental breakfast, lunch and refreshments.
    • Space is limited, and registration will be accepted on a first-come, first-served basis.
    • To attend, register online at http://mass.gov/mtrs by Thursday, May 24.

    We are confident you will find The Next Chapter Program to be an informative and enjoyable day, as well as a valuable resource in your personal retirement planning. We hope you will join us!


    Top
     


    Benefit recipients (retirees and survivors)

    August 11, 2014

    Subject: MTRS update: August 2014 issue of retiree newsletter now online

    Dear MTRS Benefit Recipient,

    The latest issue of our Advisor newsletter for retirees is now online at mass.gov/mtrs. Articles include:

    • MTRS leadership changing at the end of the year: Executive Director Joan Schloss retiring, Deputy Executive Director Erika Glaster appointed as successor
    • The MTRS turns 100: On July 1, our agency celebrated a century of service to educators
    • MTRS and PRIM Board updates
    • Quick updates: PRIM receives national award; next Benefit Verification process coming in January 2015

    Please note that, because we are able to send you this update via e-mail, you will not receive a mailed copy of our newsletter.

    As always, if you have any questions about your retirement benefits, please don't hesitate to contact us. Enjoy the rest of the summer!


    July 28, 2014

    Subject: MTRS update: FY2015 COLA to be included in July 2014 payment

    Dear MTRS Benefit Recipient,

    As you may know, the Governor and Legislature have approved a three percent cost-of-living adjustment (COLA) as part of the Commonwealth's FY2015 budget. Effective July 1, 2014, this COLA allows an increase of three percent on the first $13,000 of your retirement benefit, for a maximum increase of $390 per year or $32.50 per month. You are eligible to receive this COLA if you are:

    • a retiree who retired on or before June 30, 2013;
    • a survivor of an Option C retiree who retired on or before June 30, 2013;
    • a survivor of a member who died while in active service on or before June 30, 2013; or,
    • an accidental death benefit recipient whose benefit began on or before June 30, 2013.

    If you are eligible to receive this COLA, it will be included in your July 2014 payment and, if you receive your payment via direct deposit, you will receive a mailed statement this month. Your monthly gross amount for July will then be your new monthly gross amount until any future COLAs are granted.

    Questions? Visit our website, send us an e-mail, or call us at 617-679-6877. We are here to help!
     


    January 24, 2014

    Subject: MTRS update: Watch your mailbox for your 2013 tax form

    Dear MTRS Benefit Recipient,

    All 2013 1099-R tax statements will be in the mail to our more than 59,000 benefit recipients by the end of the day on Friday, January 24. Accordingly, if you received a benefit payment from the MTRS in calendar year 2013, then you should receive your 1099-R tax statement in the mail shortly. Along with your tax form, you will receive an insert that includes information on how to read your 1099-R as well as the pension payment schedule for 2014 .

    If you do not receive your 1099-R by Wednesday, February 12, 2014, please call our Cambridge office at 617-679-6877 to request a duplicate.

    As a reminder, you will NOT receive a Benefit Verification form this year as we are not conducting this process in 2014.

    Best wishes for a very happy 2014!


    December 31, 2013

    Subject: MTRS update: December direct deposits were credited today, as scheduled; 2014 payment dates online

    Dear MTRS Benefit Recipient,

    Please note these two important updates:

    Happy new year, and best wishes in 2014!


    December 23, 2013

    Subject: MTRS reminders: Watch for your year-end statement; no Benefit Verification process in 2014

    Dear MTRS Benefit Recipient,

    Please take note of these two timely reminders:

    • Every December, we send you a summary of your year-to-date benefit payment information for the calendar year. Please be sure to watch your mailbox at the end of this month for your year-end statement. This is provided as a service to you, and is simply for your reference.
    • By the end of January, we will send you your 1099-R tax form. Please note that you will NOT receive a blue-and-yellow Benefit Verification form with your tax form in January, as the MTRS conducts this process every two years, and Benefit Verification forms were sent to retirees in 2013.

    November 29, 2013

    Subject: MTRS alert: Update on November benefit payments

    Dear MTRS Benefit Recipient,

    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 (the last business day of the month), 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 the form which will be available on our website next week.

    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 I am 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 or understandable frustration it may cause you. We sincerely regret the error.


    November 26, 2013

    Subject: MTRS update: Notice of PRIM Board election and nomination period

    Dear Active and Retired Members of the MTRS,

    Please be advised that 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 an unpaid board composed of seven appointed members and two elected members, and 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 qualify as a candidate, eligible MTRS members must submit completed nomination papers containing the valid signatures of at least 75 active or retired MTRS members. For more information, or to obtain the required nomination papers, contact the MTRS at 617-679-6877.


    July 17, 2013

    Subject: MTRS update: FY2014 COLA to be included in July 2013 payment

    Dear MTRS Benefit Recipient,

    The Governor and Legislature have recently approved a three percent cost-of-living adjustment (COLA) as part of the Commonwealth's FY2014 budget. Effective July 1, 2013, this COLA allows an increase of three percent on the first $13,000 of your retirement benefit, for a maximum increase of $390 per year or $32.50 per month. You are eligible to receive this COLA if you are:

    • a retiree who retired on or before June 30, 2012;
    • a survivor of an Option C retiree who retired on or before June 30, 2012;
    • a survivor of a member who died while in active service on or before June 30, 2012; or,
    • an accidental death benefit recipient whose benefit began on or before June 30, 2012.

    If you are eligible to receive this COLA, it will be included in your July 2013 payment and, if you receive your payment via direct deposit, you will receive a mailed statement this month. Your monthly gross amount for July will then be your new monthly gross amount until any future COLAs are granted.

    Questions? Visit our website, send us an e-mail, or call us at 617-679-6877. We are here to help!


    June 26, 2013

    Subject: MTRS update: Watch your mailbox for your newsletter to arrive soon

    Dear MTRS Retiree,

    Please watch your mailbox for your Advisor newsletter to arrive soon. Articles include:

    • 3% COLA proposed for FY2014: Who's eligible and, if it is approved, when it will be paid 
    • Option A retirees and survivors: Consider naming a designee to receive any payable month-of-death benefits
    • Pension costs nationwide: Contrary to popular belief, not a significant drain on state coffers
    • Our System: A profile of our membership and an update on our funding status
    • Important housekeeping reminders: Know when to contact us, and be familiar with the restrictions on post-retirement public employment

    Or, if you'd prefer, access this issue online now at mass.gov/mtrs.

    As always, if you have any questions about your retirement benefits, please contact us at 617-679-6877 or mailto:geninfo@trb.state.ma.us.



    January 24, 2013

    Subject: MTRS update: Watch your mailbox for your 1099-R and Benefit Verification forms

    On Friday, January 25, our vendor will mail 1099-R tax statements and Benefit Verification forms to our more than 55,000 benefit recipients. Accordingly, if you received a benefit payment from the MTRS in calendar year 2012, then you should receive your 1099-R tax statement and your Benefit Verification form in the mail soon. If you do not receive your forms by Monday, February 11, 2013, please call our Cambridge office at 617-679-6877 to request duplicates. For your reference, the pension payment schedule for 2013 is also included in this mailing.
     
    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 Thursday, February 28, 2013. For more information on your tax statement and the Benefit Verification process, please visit our website.


    July 25, 2012

    Subject: MTRS update: FY2013 COLA to be included in July 2012 payment

    Dear MTRS Benefit Recipient,

    As you may know, the Governor and Legislature approved a three percent cost-of-living adjustment (COLA) as part of the Commonwealth’s FY2013 budget. Effective July 1, 2012, this COLA allows an increase of three percent on the first $13,000 of the retirement benefit, for a maximum increase of $390 per year or $32.50 per month. You are eligible to receive this COLA if you are:

    • a retiree who retired on or before June 30, 2011;
    • a survivor of an Option C retiree who retired on or before June 30, 2011;
    • a survivor of a member who died while in active service on or before June 30, 2011; or,
    • an accidental death benefit recipient whose benefit began on or before June 30, 2011.

    If you are eligible to receive this COLA, it will be included in your July 2012 payment and, if you receive your payment via direct deposit, you will receive a mailed statement this month. Your monthly gross amount for July will then be your new monthly gross amount until any future COLAs are granted.

    For information on how to read your direct deposit statement or pension check stub, please visit our website at http://mass.gov/mtrs/2members/22retiree/22check.htm. If you have any questions, please feel free to contact our Cambridge Call Center at 617-679-6877, or send us an e-mail at mailto:geninfo@trb.state.ma.us, and our representatives will be happy to help you. We hope you are enjoying the summer!


    June 28, 2012

    Subject: MTRS update: Watch your mailbox for your newsletter to arrive soon

    Dear MTRS Retiree,

Please watch your mailbox for your Advisor newsletter to arrive soon. Articles include:

    • Pension Reform III: What it means for MTRS members
    • Option A retirees and survivors: Consider naming a designee for your month-of-death benefits
    • Board updates: Farewell to departing members, welcome to new representatives
    • Our System: A profile of our membership and an update on our funding status
    • The MTRS defined benefit plan: Good for you, good for the state

    Or, if you'd prefer, access this issue online now at mass.gov/mtrs.

 As always, if you have any questions about your retirement benefits, please contact us at 617-679-6877 or mailto:geninfo@trb.state.ma.us.




    June 14, 2012

    Subject: MTRS update on May direct deposit delay: Treasurer’s form to request reimbursement for related fees now online

    Dear MTRS Benefit Recipient,

    As noted in our e-mail to you on May 31, our retirees’ direct deposit payments for May were processed a day later than scheduled: instead of being in our retirees’ bank accounts on Thursday, May 31, they were not processed by all banks until 1:00 p.m. on Friday, June 1.

    If you incurred overdraft fees or other charges as a result of the delay in the electronic transfer of your May MTRS benefit to your bank account, the Office of the State Treasurer will reimburse you. To receive your reimbursement:

    • go to Treasury’s website at http://www.mass.gov/treasury/,
    • read the “Important Notice to Teachers’ Retirement Benefit Recipients,” which provides details about the reimbursement process,
    • click on the link to the reimbursement claim form, and
    • complete and mail your form, with the appropriate documentation from your bank, directly to the Treasurer’s office.

    For your reference, the delay in direct deposit payments for May was caused by human error at the Treasurer’s office. Both the MTRS and the Treasury are very sorry that it occurred, and apologize for the inconvenience that it caused our retirees. The Treasurer and his staff are reviewing their internal controls and are committed to implementing measures to ensure that this type of error will not happen in the future.

    Thank you again for your understanding and patience.


    May 31, 2012

    Subject: MTRS alert: Update on May direct deposit benefit payments

    Dear MTRS Benefit Recipient,

    Unfortunately, and as you probably know, due to an error at the State Treasury, the direct deposit of monthly benefit payments for May did not happen according to the usual schedule today. The State Treasurer's office worked throughout the day to resolve the issue and has assured us that by 1:00 p.m. EST on Friday, June 1, all affected retirees’ payments will have been deposited to their designated accounts.

    

I have spoken to Treasurer Grossman personally and he has assured me that if any MTRS benefit recipient incurs a fee as a result of the delay in his or her direct deposit, the Treasury will make the recipient whole. We will send a follow-up e-mail with the details as soon as they become available.



    Please know that we and the Treasurer’s office are very sorry for this delay, and sincerely apologize for any inconvenience or understandable frustration it may cause you. The MTRS and the Treasury are taking this event very seriously. The Treasurer has assured us that appropriate measures will be implemented to prevent this kind of error from happening again.



    Thank you in advance for your understanding and patience. For additional information, please see the message posted on the Treasury website at www.mass.gov/treasury. If you have any questions, please contact us at geninfo@trb.state.ma.us or 617-679-6877.




    May 16, 2012

    Subject: MTRS announces upcoming programs for retired educators--Please join us!

    Dear MTRS Retiree,

    Continue your education--come to Retirement U!

    Retirement U, our free, morning program designed especially for our retired educators, will be held in two locations in June. It is for MTRS retirees of all ages, and you are invited to attend!



    This year's program will feature presentations on being a smart financial consumer, estate planning and elder law issues, and recent pension reform measures. As Retirement U was held in central and southeastern Massachusetts locations last year, this year's programs will be held as follows:

    • HOLYOKE: Log Cabin Banquet and Meeting House; Thursday, June 14, 8:30 a.m. - 12:30 p.m.
    • WAKEFIELD: Sheraton Colonial Hotel; Wednesday, June 20, 8:30 a.m. - 12:30 p.m.

    To attend, simply REGISTER ONLINE at http://www.mass.gov/mtrs. Please note that space is limited, and registration will be available on a first-come, first-served basis. We hope to see you there!


    May 9, 2012

    Subject: MTRS news: Update on increase in post-retirement earnings limit for re-employed MA public retirees

    Dear MTRS Retiree,

    As we told you via e-mail last November, on November 18, 2011 Governor Deval Patrick signed Chapter 176 of the Acts of 2011, “An Act Providing for Pension Reform and Benefit Modernization,” or what is commonly known as “Pension Reform III.” The third pension reform measure passed in the last three years, Chapter 176 changed certain rules affecting current active members, increased benefits for certain retirees and survivors, and significantly changed the benefit structure for new members who enroll in a Massachusetts public retirement system, or who re-enroll after taking a refund, on or after April 2, 2012.



    Now that Chapter 176 is in effect and we have received clarification on how it is to be implemented, I am writing to provide you with additional information regarding the increase in the post-retirement employment earnings limit for MTRS retirees who are rehired by a Massachusetts public employer. 



    As you know, pursuant to M.G.L. c. 32, section 91, there are limits on the amount of money that a rehired retiree may earn from post-retirement employment with a Massachusetts public entity. This post-retirement earnings limit is equal to the difference between the salary being paid for the member’s former position and the amount of his or her retirement benefit.



    Effective April 2, 2012, Chapter 176 increased this limit by $15,000 per calendar year after the member has been retired for 12 months, and allowed members who have been retired for at least 12 months as of April 2, 2012 (the effective date of the law) to earn an additional $15,000 for the remainder of calendar year 2012.



    The Public Employee Retirement Administration Commission has instructed all Massachusetts contributory retirement boards to implement the new limit as follows: Retirees may earn an additional $15,000 per calendar year beginning with their second full calendar year of retirement.

    Date of retirementDate eligible to earn additional $15,000
    Before or on 4/1/20114/2/2012
    4/2/2011 - 12/31/20111/1/2013
    1/1/2012 - 12/31/20121/1/2014

    For additional information, including examples and a link to PERAC's updated post-retirement earnings calculator, please see “Working after retirement” on our website at http://www.mass.gov/mtrs/2members/22retiree/22work.htm.



    For an overview of how Chapter 176 affects all MTRS members, see our website at http://www.mass.gov/mtrs. If you have any questions, please contact us at mailto:geninfo@trb.state.ma.us or 617-679-6877.




    January 27, 2012

    Subject: MTRS update: Watch your mailbox for your 2011 tax form

    Dear MTRS Benefit Recipient,

    On Friday, January 27, our vendor will begin mailing 1099-R tax statements to our more than 55,000 benefit recipients. Accordingly, if you received a benefit payment from the MTRS in calendar year 2011, then you should receive your 1099-R tax statement in the mail soon. If you do not receive your form by Monday, February 13, 2012, please call our Cambridge office at 617-679-6877 to request a duplicate.

    Enclosed with your tax form will be two single-sheet inserts:

    • general information on how to read your 1099-R, along with the pension payment schedule for 2012, which is also available on our website at http://www.mass.gov/mtrs/2members/22retiree/22pension.htm, and
    • a legislative bulletin regarding recent pension reform provisions that affect certain MTRS retirees. Please review this bulletin carefully to ensure that you understand these new provisions, how you may be affected, and whether you need to take action. For more information, or to read the bulletin online, please see our website at http://www.mass.gov/mtrs.

    As a reminder, you will NOT receive a blue-and-yellow Benefit Verification form with your tax form this year. We conduct this process every two years, and we sent Benefit Verification forms to retirees in 2011.

    Best wishes for a very happy 2012!

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