June 2018 eNews

Upcoming Changes to Monthly Benefit

Some of you may notice changes to your June monthly pension amount if you have health insurance benefits through the Commonwealth. The monthly health insurance premium deduction for many plans through the GIC will change beginning in June. To view the new rates or for more information go online to mass.gov/gic.

The proposed 3% COLA (Cost-of-Living Adjustment) increase for eligible retired state employees has not yet been approved by the Legislature. It is a line-item within all the FY19 budget proposals. If enacted by the Legislature, the COLA will go into effect on July 1, 2018 for those eligible members who retired prior to July 1, 2017. If a COLA is approved, benefit recipients would receive the COLA as soon as administratively possible with their regular monthly benefit payment. COLA updates will be posted on our website when they become available.

Benefit Verification Form (BVF) Update

To date, 55,529 (89%) Verification Forms have been received, reviewed and approved by the MSRB. Acknowledgment postcards will continue to be mailed on an ongoing basis to most members who have submitted a valid BVF. Board staff will process BVFs as they are received.

If you have not yet sent in your Benefit Verification Form, it’s not too late. A second Benefit Verification Form will be mailed at the end of June to all those for whom the MSRB has not yet received a valid BVF. Please note, during the verification process, your pension payments will not be delayed or withheld without prior notification. Board staff will make every effort to contact members before withholding anyone’s pension payment.

Please keep in mind the following when filling out your form:

1. Section 2 MUST be completed (signature required) by the member or the authorized agent (power of attorney (POA), guardian or conservator) acting on behalf of the member.
2. If an authorized agent completes the BVF, a full copy of the authorization document must be already on file with the Board or attached to the 2018 BVF. Section 4 (on the back) should also be completed.
3. The notary must stamp, or affix their seal, within Section 3 and it must be completely legible (i.e., stamp or seal must not be imprinted over other form text.) Please ensure the expiration date is viewable.
4. Per Board policy, the BVF may not be notarized by a family member. If your BVF was notarized by a notary with the same last name as you, the BVF was not approved. If it is the case the notary happens to have the same last name but is not related, please contact the Board.
5. While the Board makes every effort to send every member an acknowledgment of receipt postcard, sometimes there are unforeseen circumstances beyond our control, such as lost or undeliverable mail, which may cause some members not to receive a postcard.

If there is a reason prohibiting you from completing this form, or if you need assistance, please contact our office at (617) 367-7770.

For more information and the latest updates, please visit our Benefit Verification website at https://www.mass.gov/service-details/biennial-benefit-verification-process-msrb.

Thank you to all those members who have returned their BVF form!

Is there something you would like us to communicate in an upcoming Retiree eNews Bulletin? If so, let us know!

Please e-mail your request and comments to MSRBCommunications@tre.state.ma.us
We look forward to hearing from you!

Did You Know?

New Medicare cards are on the way! The Medicare Access and CHIP Reauthorization Act of 2015 requires the Centers for Medicare & Medicaid Services (CMS) to remove Social Security Numbers from all Medicare cards by April 2019. The purpose of this law is to protect people with Medicare from fraudulent use of Social Security numbers which can lead to identity theft and illegal use of Medicare benefits.

For More information, visit the CMS website.

Treasurer Goldberg Alerts Residents to New Unclaimed Property Scam

Fake documents are being sent to citizens regarding unclaimed property funds. According to Treasurer Deb Goldberg, these documents are not being issued by the Massachusetts Office of the State Treasurer.

"It has come to our attention that documents using our address and likeness have been sent fraudulently," said Treasurer Deb Goldberg. "Our goal is to ensure that no citizen is taken advantage of as part of this scam."

Official unclaimed property notices will never direct owners to pay money, whether for processing fees, tax payments, or otherwise, when searching unclaimed property or filing a claim.

If you have any questions regarding unclaimed property, please visit the Treasury’s official website, http://www.findmassmoney.com/ or call 888-344-MASS (6277).

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