Winter 2017 Volume 11, Issue 1 ACTIVE MEMBER NEWSLETTER BOARD MEMBERS Chair Treasurer Deborah B. Goldberg Elected Members: Ralph White and Theresa McGoldrick, Esq. Appointed Member: Patricia Deal Chosen Member: Chris S. Condon EXECUTIVE DIRECTOR: Nicola Favorito, Esq., / Deputy Treasurer DEPUTY EXECUTIVE DIRECTOR: Marianne Welch EDITOR: Paula Daddona BOSTON OFFICE Downtown Crossing One Winter Street, 8th Floor Boston, MA 02108 Office Hours: 7:45 a.m. – 5:00 p.m. M–F Phone: (617) 367-7770 Fax: (617) 723-1438 SPRINGFIELD OFFICE 436 Dwight Street, Room 109A Springfield, MA 01103 Office Hours: 8:00 a.m. – 5:00 p.m. M–F Phone: (413) 730-6135 Fax: (413) 730-6139 TOLL-FREE (800) 392-6014 (Mass. Only) DIRECT DIAL TO BYPASS CALL CENTER If you know your party’s three digit extension (617) 367-9333 +ext. EMAIL SRB@tre.state.ma.us WEBSITE mass.gov/retirement In This Issue mass.gov/retirement Treasurer Deborah B. Goldberg, Chair Page 1 Treasurer’s Message This Holiday season, I want to take the time to recognize someone who stepped up to help others in their time of need. Ralph White has had a long and storied career serving our retirees and beneficiaries as a member of the State Retirement Board. His unwavering dedication to survivors and to those seeking help guided him throughout his entire life. His presence will be truly missed by all. I wish him much happiness and good health in the coming years. Thank you all for your dedication to our commonwealth and to its people. Please do not hesitate to reach out with any questions, concerns or feedback you may have. Sincerely, Deborah B. Goldberg, Treasurer and Receiver General In This Issue: Page 2: Ralph White Steps Down as Board Member; 2016 Retirement Board Election Update Page 3: Introducing MARIS (MAssachusetts Retirement Information System)!; Notice of 2016/2017 Pension Reserves Investment Management (PRIM) Board Election; Page 4: PRIM Board Update; Reminders Page 2 Ralph White Steps Down as Board Member A champion for retiree benefits across the Commonwealth is stepping down. After twenty years of serving the State Retirement Board as a board member, Ralph White (85) did not seek re-election to the Board so that he can narrow the scope of his activities. White, who is also the founder and former President of the Mass Retirees Association, originally served the State Retirement System as an elected member to the Pension Reserves Investment Management (PRIM) Board. He felt compelled to also run for his first election to the State Retirement Board in 1996 after the enactment of major Pension Reform Legislation. “I felt I could best serve retirees and survivors by giving them the best possible representation through my experiences of implementing these laws,” said White, a Korean War Veteran. However, it was his spunk and determination to especially fight for survivor benefits which set him apart on the Board. “I had my own style,” he said with a proud smile. White’s belief to help those with enough evidence to receive benefits pushed him to be become more accessible to survivors and retirees. Staying up late on a Saturday night talking to members has been a common ritual for White who truly fought for those who needed help. “You look for ways to help people not to make things more difficult,” said White. “I know what it’s like to lack the skills to express yourself properly.” “Ralph White leaves the State Retirement Board after 20 years of dedicated service to our retirees and beneficiaries. Ralph’s devotion made him an invaluable Board member, and his influence will impact us for years to come.” Treasurer Goldberg White’s enduring dedication to our retirees, beneficiaries, and the Board will be truly missed. 2016 Retirement Board Election Update At its December 22, 2016 the State Retirement Board certified the results of the recently completed election for one of the two elected positions. The results were: Francis E. Valeri 10,299 Paul K. Donohue 6,043 Thomas C. Mullane 1,912 Due to the publication date of our newsletter we will provide more information on Mr. Valeri as he joins the Board in our next newsletter. He will serve for a three-year term without compensation beginning in January 2017. Page 3 Introducing MARIS (MAssachusetts Retirement Information System)! This coming January 2017, the Massachusetts State Retirement Board (MSRB) will implement the first phase of its new information system, MARIS, which will replace the Board’s current forty-year- old computer system. Please note, while the MSRB transitions to MARIS during the period from approximately December 19, 2016, until January 9, 2017, members of the State Employees Retirement System will not be able to make changes to account information. Members may continue to file retirement applications and other benefit requests with us. However, there is a strong likelihood of a delay in the processing of benefit requests. Also, due to the recent voluntary incentive program for Executive Branch employees, and other ongoing employee activity such as the separation of manual toll collectors from MassDOT, the volume of benefit and related requests to our office has increased significantly. As a result, it may take a little longer for us to get back to you, answer your individual questions and process your benefit requests. If members are planning to retire after January 2017, they may wish to wait to submit their retirement applications until that time. As always, the MSRB staff are available to assist you as needed.. You may contact our offices at (617) 367-7770, or toll-free (800) 392-6014 (In MA Only); via email at srb@tre.state.ma.us. For more information and updates about MARIS be sure to visit the MSRB website at mass.gov/treasury/MARIS. New updates will be posted as soon as information becomes available. Board staff thanks you for your continued patience and understanding! Notice of 2016/2017 Pension Reserves Investment Management (PRIM) Board Election Pursuant to Massachusetts General Laws c.32, §23 (2A)(a), the Pension Reserves Investment Management Board (PRIM) will conduct a regularly scheduled election for the Massachusetts State Employees’ Retirement System representative on the PRIM board. The elected member will serve for a three-year term without compensation beginning July 20, 2017. Nomination papers will be available beginning November 14, 2016 at the Retirement Board’s offices, One Winter St., 8th FL, Boston; 436 Dwight Street, Room 109A, Springfield; or through its website at www.mass.gov/retirement. Completed nomination papers must be received at the Retirement Board’s offices on or before 5:00 p.m., January 24, 2017. After qualification of candidates official ballots will be issued on or about April 4, 2017 and must be returned by May 9, 2017 to the Election Vendor. You may obtain a complete set of Election Rules from the Retirement Board’s offices or through its website. If you have any questions, please contact Nicola Favorito, Esq., Executive Director at (617) 367-7770. Page 4 mass.gov/retirement Treasurer Deborah B. Goldberg, Chair PRIM Board Update The Pension Reserves Investment Trust (PRIT) Fund is a pooled investment fund established to invest the assets of the Massachusetts State Teachers’ and Employees’ Retirement Systems, as well as the assets of county, authority, district, and municipal retirement systems that choose to participate. The PRIT Fund was created by the Legislature in December 1983. The Treasurer and Receiver General of the Commonwealth is a member ex officio and serves as the chair of the nine-member Pension Reserves Investment Management (PRIM) Board, which is responsible for overseeing the Fund. The State Employees’ Retirement System has two representatives on the Board: one is elected by the members of the Retirement System and one is an elected member of the State Retirement Board. Pension Reserves Investment Trust (PRIT) Fund Assets: »»$61,636,377,000 State Employees’ Retirement System (SERS) Assets: »»$23,772,854,794 *Cost Year-to-Date PRIT Fund updates are courtesy of PRIM. Due to limited space, we can only provide a condensed version of fund updates. For full quarterly updates and more detailed information on the PRIM Board visit their website: www.mapension.com Reminders Important Dates to Remember: January Monday, 16th: Martin Luther King Jr. Day, Office Closed February Monday, 20th: President’s Day, Office Closed Have You Recently Moved? Be sure to provide your new address to your Human Resources department so that they update your employee file. Has Your Email Address Changed? Be sure to notify your Human Resources and/or Network Administrator (IT) department so that they can update your electronic profile. Please note: MSRB staff is not able to update active members individual state email addresses. Thank you! Need a Form or a MSRB Publication? Our most current forms and publications are available for download on our website under Key Resources > All Forms and Publications Like us on Facebook, facebook.com/mass.state.retirement Follow us on Twitter @MassStateRet If you have any questions of comments, please email us at: MSRBCommunications@tre.state.ma.us