Retirement Systems

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

State error delays teachers’ benefits

JUNE 1, 2012: State Treasurer Steven Grossman has launched an internal investigation after an ­error by his office delayed benefits payments to about 53,000 retired teachers.

The problem, which affected 92 percent of retired educators whose Massachusetts Teachers’ Retirement System benefits are electronically deposited into their bank accounts, has been rectified, but the deposits may not go through until Friday, Grossman said.

McGOLDRICK RE-ELECTED TO STATE BOARD

McGOLDRICK RE-ELECTED TO STATE BOARD

Theresa McGoldrick, without opposition, has been re-elected to a 4th three-year term on the State Retirement Board.

McGoldrick serves as one of the State Board’s two elected members along with Ralph White. State Treasurer Steve Grossman is the Board’s chairman, retiree Pat Deal is an appointed member and SEIU Local 509 Political Director, Chris Condon the fifth member is elected by the other Board members. Nick Favorito is the Board’s Director.

PENSION BOARD APPOINTS LEGAL CHIEF

PENSION BOARD APPOINTS LEGAL CHIEF

MARCH 22, 2012: The Commonwealth’s Public Retirement Administration Commission (PERAC) has voted the appointment of Attorney John Parsons to the post of PERAC General Counsel. This key position had become vacant when Barbara Phillips, longtime General Counsel, retired. Phillips had been with PERAC and its predecessor PERA since 1984.

PENSION OVERSIGHT BOARD APPOINTS COMPLIANCE OFFICER

PENSION OVERSIGHT BOARD APPOINTS COMPLIANCE OFFICER

MARCH 6, 2012: Tom O’Donnell has been named by the Public Employees Retirement Administration Commission (PERAC) to oversee the new retirement education program and pension fund investment reporting requirements for members of our state’s 105 public retirement boards.

LISTON NAMED TO TEACHERS’ RETIREMENT BOARD

LISTON NAMED TO TEACHERS’ RETIREMENT BOARD

Seven-Member Board Now Complete

FEBRUARY 29, 2012: Richard Liston, a retired Everett special education teacher has been named to fill an opening as the seventh member of the Teachers’ Retirement Board, the Commonwealth’s only seven-member Board.

Liston was voted to that seat for a four-year term by the first six members of the Board after interviewing five finalists over the past month. The seat had been previously held by Linda Ruberto, a retired Pittsfield teacher, who declined a new term after 20 years on the Board.

ESSEX BOARD NOW COMPLETE

ESSEX BOARD NOW COMPLETE

PERAC Approves Vincent Malgeri as 5th Member

JANUARY 23, 2012: Today, the Public Employee Retirement Administration Commission (PERAC) approved the fifth and final member of the Essex Regional (County) Retirement Board.

ACTION AT THE TEACHERS’ BOARD

ACTION AT THE TEACHERS’ BOARD

2 New Members and a 3rd Scheduled

UPDATED: JANUARY 13, 2012: There’s been action aplenty over the past two months at the seven-member Teachers’ Retirement Board.

A December election has seen incumbent Karen Mitchell top a five candidate field in winning a second four-year term on the Board.

Finishing second and also winning a four-year term on the Board was Dennis Naughton, a retired 38-year Millis teacher.

Pension Reform 3 Now Law

JANUARY 2012 VOICE: Chapter 176, landmark Pension Reform, signed into law by Governor Deval Patrick on November 18, brings to a close the longtime concept of a public pension plan that provides full pensions for long-term employees, but allows a reduced pension for anyone who must retire before age 60.

STATE & TEACHER PENSIONS NOW AVAILABLE FOR ALL TO SEE

DECEMBER 6, 2012: If you are a retired state employee or teacher, the amount of your pension and former agency or workplace is now on the state-run “Open Checkbook” website available to anyone with a computer.

RETIREMENT BOARD MEMBER RECEIVED MAYOR'S PROCLAMATION ON MONTH PRIOR TO DEATH

RETIREMENT BOARD MEMBER RECEIVED MAYOR'S PROCLAMATION ON MONTH PRIOR TO DEATH

NOVEMBER 27, 2011: On October 28, 2011, Newburyport Mayor Donna Holaday proclaimed Franklin J.( Buddy) Spaulding Day in the City of Newburyport. The proclamation was issued in recognition of Buddy’s 26 years of service on the Newburyport Retirement Board.  The proclamation was issued just one month prior to his death on November 23, 2011.