Retirement Benefits

Articles about Retirement Benefits that may be useful to Massachusetts retirees.

Senate Approves Changes to Retiree Work Restrictions

Increases Annual Hour Limit to 1,200

During its debate on the FY19 State Budget,  the Senate has voted to increase the hourly limit placed on retirees who return to part-time public service for a state or local entity in Massachusetts. Senators Michael Rodrigues (D-Westport) and Paul Feeney (D-Foxboro) cosponsored the measure as a floor amendment to the budget.

State Life Insurance Increase No Easy Task

Budget Amendments Rejected

For more than a decade, Mass Retirees has fought for an increase in the state’s basic life insurance benefit for retirees and active employees. Our goal is to increase the benefit to $10,000.

As members know, the current $5,000 benefit was established in 1985. After 33 years, the benefit no longer satisfies its original intent – to cover retirees’ funeral and burial expenses. According to the National Association of Funeral Directors, costs in Massachusetts well exceed $5,000 and can easily surpass $10,000, even for modest arrangements.

The Real Reason the Investor Class Hates Pensions

By DAVID WEBBER, New York Times MARCH 5, 2018

No issue in America today better illustrates the divergent interests of working Americans and the 1 percent than pension reform. Substantial empirical evidence shows that America’s favored retirement vehicle — the 401(k), recently renounced by its own inventors — is grossly inadequate and will leave tens of millions of Americans with insufficient retirement assets.

Cancer Prevention Takes Center Stage At Retirement Conference

Firefighters Focus on Prevention

Twice a year the Mass. Association of Contributory Retirement Systems (MACRS) holds educational conferences designed to enhance the knowledge of board members and staff from the state’s 104 retirement systems. Beyond simply learning about investment practices and retirement law, attendees have the opportunity to grow their knowledge of some of the most important issues of our times.

Veterans: RMV Offers Free Duplicate License

One of the Association’s primary legislative goals is to enhance the pension benefits of our veterans in recognition of their service and sacrifice for our country.  During the current (2017-2018) legislative session, we continue to push for enactment of H1435 and S1393 that increase the veterans’ minimum pension from $300 to $1,000.  Ed Note:  While S1393 was introduced by Senator Vinny de Macedo (R-Plymouth) H1435 was introduced for us by Representative Jerald Parisella

Critics Ignore How Public Pensions Benefit U.S. Taxpayers, NCPERS Finds

Critics Ignore How Public Pensions Benefit U.S. Taxpayers, NCPERS Finds

August 15, 2017: Public pension plans are resilient, pose little burden on taxpayers, and stimulate the U.S.

Association Announces New Discount Program

Association Announces New Discount Program

Zebit is Online Resource Exclusively for Members

MAY 23, 2016: Our Association has some exciting news that I would like to be the first to share with you.

As you know, in addition to our advocacy work for public retirees, we also seek ways for members to save money through exclusive discount programs. Due to the success of these programs, retirees have asked that we offer more ways for members to save.

You asked. We listened.

STATE BOARD BEGINS TO PAY ERIP RETIREES

Work Continues On Remaining Applications

On August 31, approximately 600 former state employees, who retired under the Employee Retirement Incentive Program (ERIP), will be receiving their first pension payment, retroactive to June 30, 2015. According to the ERIP law (Chapter 19, Acts of 2015), the State Retirement Board had 120 days (4 months) from the date of retirement (June 30) to issue pensions to the ERIP retirees.

Early retirement plan drawing fewer applicants than predicted

Governor Charlie Baker’s early retirement plan is on pace to draw fewer applicants than his administration predicted, a gap that could prompt state government layoffs later this year.

Auto & Homeowner Insurance Discount Announced

Members Can Save at Least 6% Off Arbella Premium

MAY 2015 VOICE: Last year the Association began exploring the possibility of offering discount programs to members. Our first such program, a discounted BJ’s Wholesale Club membership, was unveiled in December and proved a great success.

Since then, we’ve listened to the requests of members and have worked to develop new programs.