Your Retirement

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

State & Teacher COLA Base Increased

JANUARY 2012 VOICE: As clearly evident from the lead story, our Association is disappointed at the outcome of the latest installment of Pension Reform, which, we believe, saddles future employees with the debt created by past generations of government officials who failed to properly fund the government’s share of pension obligations. In addition to seeking fair and equitable treatment for future government workers, we also strongly advocated our position that existing benefit inequalities be addressed through Pension Reform III.

Public Service After Retirement

Earnings Cap Raised

JANUARY 2012 VOICE: Of interest to some members in the new Pension Reform law (Chapter 176), Senate leaders agreed to a floor amendment, sponsored by the Mass. Police Association and backed by our Association, that increases the part-time earnings limits for superannuation retirees who return to public service, on part-time basis, within Massachusetts government. Senator Michael Rodriques (D-Westport) carried the amendment on the Senate floor, which was unanimously accepted.

New Disability Earnings Reporting Law

JANUARY 2012 VOICE: Contained within the myriad of issues addressed by the new Pension Reform Law (Chapter 176, Acts of 2011) is a section that eases the annual reporting requirements of long-term disability retirees, in connection with earned income, if any, during a calendar year.

Municipal budgets most stressed since ’80, report says

Boston Globe

State aid cuts, lack of growth are cited

December 7 2011: Cash-strapped cities and towns across Massachusetts are struggling with the worst stress on their budgets since passage of Proposition 2 1/2 in 1980, according to a new report from the Massachusetts Taxpayers Foundation.

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.

Many Workers in Public Sector Retiring Sooner

NT Times

MADISON, Wis. — As states and cities struggle to resolve paralyzing budget shortfalls by sending workers on unpaid furloughs, freezing salaries and extracting larger contributions for health benefits and pensions, a growing number of public-sector workers are finding fewer reasons to stay.

MEMBERS CAN RENEW 2012 DUES ONLINE

Member Management System Launched

NOVEMBER 28, 2011: For the convenience of our members, the Association is pleased to now offer the option for members to renew their annual Association dues online through a secure website portal. Members wishing to utilize this new feature should click here to proceed.

HOUSE PASSES PENSION REFORM 3

COLA Base Increase & Retiree Benefits Included

NOVEMBER 4, 2011: Phase III of Pension Reform has now passed the House with a unanimous vote to further alter the public pension benefit structure for future employees. In addition to future benefit changes (affecting those first hired on or after July 1, 2012), the House plan seeks a series of benefit enhancements for current retirees.

OVER 500 ATTEND ANNUAL MEETING

OVER 500 ATTEND ANNUAL MEETING

Special Recognition to 10th Anniversary of 9/11

SEPTEMBER 20, 2011: With the nation preparing to recognize the 10th anniversary of 9/11, two days prior to that date our Association's 43rd Annual Meeting, over 500 members gathered on September 9th and in our own way, we opened the meeting with a remembrance of that never-to-be forgotten day.

New Law Targets Pension Systems

SEPT 2007 - Association Opposed Passage -  Legislative leaders handed Governor Deval Patrick a hard fought victory in July with the passage of a new law that turns the pension assets of so-called “underperforming” retirement systems over to the state’s PRIT Fund for investment.