1099-R UPDATE (updated 2/3/16)
IMPORTANT NOTICE FOR RETIREE 1099-R RECIPIENTS
(Form 1099-R replacements were mailed to affected members on February 3, 2016.)
This important notice is to inform certain members that the distribution code reported in box 7 on the 2015 Form 1099-R recently mailed to them is incorrect. Unfortunately, due to a programming error, certain members who are receiving a regular superannuation retirement benefit (including correction officers retired under the “20/50” provisions) should have had either distribution code 2 or 7 printed in their form’s box 7, not distribution code 1.
If you file your federal tax return electronically, you may do so immediately by entering the distribution code 2 if you were age 59 ½ or under in calendar year 2015, or by entering distribution code 7 if you were above age 59 ½ in calendar year 2015 in the appropriate location within your electronic tax return form.
If you are filing a paper tax return, please wait until you receive your Form 1099-R replacement. The State Retirement Board mailed Form 1099-R replacements on February 3, 2016. Proper distribution codes will be reported to the Internal Revenue Service.
Also please note that retiree's Form 1099-R information is now available for viewing on PayInfo. Correct distribution codes can be found there.
Any additional Form 1099-R updates will be posted here as soon as they become available. If you have any questions, please contact our office either by email at firstname.lastname@example.org or by telephone at (800) 392-6014 or (617) 367-7770. Thank you for your attention. We apologize for any inconvenience this may cause!
ATTENTION RETIREES: DO YOU HAVE A NEW ADDRESS?
Be sure to notify the State Retirement Board if your mailing address has recently changed. Click the following link to download the Change of Address Form .
2016 PENSION PAYCHECK SCHEDULE
February pension checks will be mailed on Thursday, February 25th and direct deposits will be made on Monday, February 29th (the last business day of the month) as scheduled. To download the complete 2016 Pension Paycheck Schedule Click here!
The MASSACHUSETTS PENSION RESERVES INVESTMENT TRUST (PRIT) FUND RANKED #1
According to the Private Equity Growth Capital Council (PEGCC), the PRIT Fund is the best in the nation among more than 155 U.S. public pension funds! Read the press release here! file size 1MB
RETIREE eNEWS BULLETIN
The January / February issue of the Retiree eNews Bulletin is now available! Read it here!
PENSION ESTIMATE PERCENTAGE CHART
Click here for Retirement Percentage Chart
Members can calculate their own retirement benefit estimate using the above Retirement Percentage Chart. Information on how benefits are calculated can be found in our Retirement Benefit Guide beginning on page 14.
Section 60 of the Pension Reform Act of 2011 (Chapter 176 of the Acts of 2011) allowed certain* ORP participants a one-time opportunity to change their retirement coverage to the Massachusetts State Employees’ Retirement System (MSERS). *Individual eligibility was confirmed when the participant received the official packet at their home address.
The most current ORP updates are posted on the Massachusetts Department of Higher Education's (DHE) website. Click the following link to view: ORP Information
Please direct your ORP queries to the DHE ORP email box: ORP@bhe.mass.edu
PLEASE NOTE: Employees of the Massachusetts State Retirement Board cannot, and are not authorized to, advise you in any manner as to which plan is better suited for you. Please carefully review all materials that were mailed to you by the DHE. Certain plan provisions under the MSERS may not be applicable to transferring ORP participants.