MSERS At-A-Glance

Fast Facts

The Massachusetts State Employees Retirement System (MSERS) was established by law in June 1911.

State Retirement Board Members:

• Deborah B. Goldberg, Treasurer & Receiver General, Chair


• Theresa McGoldrick, Esq., Elected Member (NAGE Unit 6 – President)


• Frank Valeri, Elected Member, (Retired State, County and Municipal Employees Association of Massachusetts - President)


• Appointed Member, Vacant


• Archibald (Archie) Gormley, Chosen Member (Professional Fire Fighters of Massachusetts – Retired Legislative Agent)

State Retirement Board Executive Director:

• Kathryn Kougias

Coverage Groups:

Employees of the Commonwealth of Massachusetts, its agencies and various other public entities, including county sheriffs, and former Mass. Turnpike Employees’ Retirement System.  (Does not include public school teachers, local and municipal employees).

Membership: (As of 1/1/23)

87,554  Active Members

•  up to 10 years of creditable service: 46,909
• 10 to 20 years of creditable service:  21,594
• 20 to 30 years of creditable service:  13,439
• 30+ years of creditable service:           5,612
   

69,167 Retired Members, Survivors, & Beneficiaries

• 58,610  Superannuation Retirees
•   3,982  Disability Retirees
•   6,575  Other Retirees/Survivor Beneficiaries
   
   
  Average Annual Benefit:  $41,005.00
   
  Total Annual Benefits Paid 2021:  $2.836B
   
  Average Active Member Salary: $80,956

Vesting & Eligibility:

 

Being vested means you are eligible to receive a retirement allowance. You are vested in the State system if you have at least ten years of full-time service. To be eligible to retire, you need to meet one of the following conditions:

• You entered state service prior to April 2, 2012 and you have 20 years of full-time creditable service at any age, or
• You entered state service prior to April 2, 2012 and you attain the age of 55 with ten years of creditable service, or
• You entered state service on or after April 2, 2012 and you attain the age of 60 if retiring from Group 1, with ten years of creditable service.

If you leave state service after you are vested, you may leave your retirement contributions in the system and receive a state pension once you meed the minimum age requirement.

ASSETS: Managed by PRIM (Pension Reserves Investment Management Board)

As of the most recent Actuarial Valuation - January 1, 2023

• Net Market Value of Assets on Account: $35.079B
• MSERS Funded Ratio: 71.3% 
• MSERS Unfunded Liability: $14.120B

Retirement Board Offices:

Main Office: One Winter Street – 8th Floor Boston, MA  02108 Tel:  [phone] Fax:  [phone]	Springfield Office: 436 Dwight Street Room 109A Springfield, MA  01103 Tel:  [phone] Fax:  [phone]
Toll Free:  1-800-392-6014 (Within MA) Website: www.mass.gov/retirement Email: [e-mail]

Health, Dental/Vision & Life Insurance:

Health, Dental/Vision & Life Insurance for GIC-eligible public employees, retirees and their survivors is administered by the Massachusetts Group Insurance Commission (GIC), a separate state agency.

If you have questions about your health, dental/vision and/or life insurance coverage, please contact the GIC at:

Phone: [phone]

Mailing Address:
P.O. Box 556, Randolph, MA 02368

Website: www.mass.gov/gic

Feedback: Contact the GIC Online Request Form

Additional Resources

MA State Employees Retirement System (MSERS) Fact Sheet