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Retirement news and updates since October 6, 2017
2/16/2018
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A note about our News page

Because of the ongoing migration of state websites to this new Mass.gov platform, we cannot update the pages on our “classic” site. Accordingly, we post news and updates on this page as needed. With the exception of the information referenced below, the content on our "classic" site remains up to date. 

Benefit recipients: Your federal tax withholding may change with your January payment

The Internal Revenue Service updated the federal tax withholding tables for 2018. If you have federal taxes withheld from your monthly benefit:

  • based on the IRS tax tables (i.e., your marital status and the number of exemptions claimed), beginning with your January payment, you may see a change in your net benefit amount because your tax withholding changed under the new table. Additionally, if you receive your payment via direct deposit, you will receive a mailed statement for January because your net amount changed from last month.
  • as either a fixed dollar amount or as a percentage of your gross benefit, your tax withholding was not affected by this change in the IRS tables.

For additional information, please see Taxation of your benefit.

Benefit recipients: Please watch your mailbox for your 1099-R tax form to arrive soon

All 1099-R tax forms will be in the mail to our more than 67,000 benefit recipients by the end of the day on Thursday, January 25. 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 2018. If you do not receive your tax form by Thursday, February 15, please call our main office at 617-679-6877 to request a duplicate.

Please note, however, that you will NOT receive a blue-and-yellow Benefit Verification form with your tax form this year as we are NOT conducting this process in 2018. 

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Notice of February Board Meeting

Please note that the Massachusetts Teachers' Retirement Board will hold its next meeting on Friday, February 23, at 9:00 a.m. in the Board Room of its Charlestown office, at 500 Rutherford Avenue, Suite 210, Charlestown, MA. Meetings are generally held on the last Friday of the month unless otherwise noted. For discussion topics, see the meeting agenda below. For information on past meetings, see Board meeting agendas and minutes.

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