Articles about Retirement Boards that may be useful to Massachusetts retirees.
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.
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.
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.
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.
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.
Chapter 176 Marks Sweeping Change
NOVEMBER 21, 2011: As expected, late last Friday, November 18, Governor Deval Patrick signed Pension Reform III into law as Chapter 176, Acts of 2011.
The measure, which had been enacted in the House and Senate three days earlier, creates a new retirement plan for new employees of our 105 retirement systems, hired on or after next April 2nd.
BOSTON—The Massachusetts Legislature has approved an overhaul of the state's pension system that would raise the minimum retirement age for future state employees to 60.
The compromise bill was accepted Tuesday by the Senate on a 27-10 vote and later on a 149-0 vote in the House.
Phase III Targets New Hires
NOVEMBER 2011 VOICE: Citing the need to reign in pension costs in order to increase the Commonwealth’s bond rating, the Senate has passed a sweeping pension reform measure that serves as the third major overhaul of the state’s defined benefit pension law.
Legislation Contains Governance Reforms
NOVEMBER 7, 2011: Pension reform legislation, now before a House & Senate Conference Committee, not only contains significant changes to retirement benefits for future employees, but also to the administration and governance of the Commonwealth’s 105 retirement systems.
Scibak Will Be Guest Speaker
OCTOBER 7, 2011: The Mass. Association of Contributory Retirement Systems (MACRS) will hold its fall conference this
October 16-19 at the Sheraton Springfield Hotel.
Officials and staff of our state's 105 retirement boards representing all of the Commonwealth's retirement systems will tackle an agenda that is headed by "Pension Reform" the Governor's top priority bill (S2018) which is expected to be enacted by the Legislature within the next month.