Articles about Retirement Boards that may be useful to Massachusetts retirees.
MARCH 2012 VOICE: Year 2011 was not a good year for the $47.1 billion Commonwealth’s Pension Reserves Investment Trust (PRIT) Fund.
After strongly recovering from disastrous Year 2008, when the Fund lost -29.50% of its value, followed by earnings of 17.06% in Year 2009 and 13.56% in Year 2010, the Fund was a victim of the worldwide market slump last year. PRIT barely squeaked into the black with a return of 0.15%
Succeeds Association Founder Ralph White
The following is special message from Association President Frank Valeri:
This coming January, the Massachusetts State Retirement Board (MSRB) will implement the first phase of its new information system, MARIS, replacing the Board’s current forty-year-old computer system.
For retirees of the Massachusetts State Employees’ Retirement System (MSERS), the first monthly benefit payment using MARIS will be the regularly scheduled payment for January 2017.
For more information or to access the State Retirement Board's new MARIS system, click here.
Dear Fellow State Retiree:
IF YOU HAVE NOT VOTED YET FOR THE YOUR STATE RETIREMENT BOARD ELECTION, ITS NOT TOO LATE.
Association President Frank Valeri Is A Candidate For Seat
October 17, 2016: Former Association President Ralph White has decided to step down from serving as one of the elected members for the State Retirement Board. He was first elected to serve on the State Retirement Board in January of 1997 and has served continuously since that time. Twenty years later his successor as Association President, Frank Valeri, has announced his candidacy to run for his open seat.
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.
By Cliff Clark, firstname.lastname@example.org
LEOMINSTER -- The third attempt to secure an annual pension increase for city retirees failed like the first two at a meeting Tuesday morning of the city's Retirement Board.
"You ought to be ashamed of yourselves," one person shouted from a crowd of more than 50 city retirees and supporters at the board as three of its members raised their hands to deny city retirees a 1.7 percent cost-of-living increase.
LEOMINSTER -- Just seven days after the Retirement Board voted down the first cost-of-living increase for city retirees in five years, another attempt will be made at 9 a.m. Tuesday, according to one board member.
"We're going to try again to get a COLA for city retirees," said elected board member John Picone.
During last week's meeting, the board voted twice on proposals to raise the COLA 3 percent and 1.7 percent, respectively.
LEOMINSTER -- Tension between the chairman of the Retirement Board, other board members and city retirees erupted into open hostility at a meeting Tuesday, when another attempt at securing a cost-of-living raise for pensioners failed.
"You've been lying to this board," elected Retirement Board member John Picone said to Chairman John Richard, who is also the city comptroller, in front of more than 40 city retirees in the Council Chambers of City Hall. "You've been lying to me. You've been lying to the people out here for years.
State House News Service
June 9, 2015
During a packed hearing late Tuesday morning, supporters of bills that would divest public pensions from fossil fuel energy industry over concerns that relying on profits from those companies helps contribute to climate change.