Articles about Your Retirement that may be useful to Massachusetts retirees.
- State Treasurer Tim Cahill has announced the mailing dates of State
Retirement Board and Teachers' pension checks for the calendar year
- RetirementPlus Boosts Pensions - Massachusetts' public school teachers have been retiring in record
numbers. According to the latest actuarial data provided by the Public
Employee Retirement Administration Commission (PERAC), there were
32,631 retired teachers on January 1, 2001, compared to 42,164 on
January 1, 2005 - an increase of 29.21%.
- Even though you may have planned for the proverbial "rainy day", you
may regrettably find yourself unable to pay all your bills at some
point. If such an unfortunate turn-of-events occurs, could you have
done something to at least prevent your home from being sold right out
from under you?
SEPTEMBER 2005 - When considering a move outside the Commonwealth, there are naturally several factors that a member weighs before making a decision. Among them is whether their contributory pension, which is not subject to tax here, will be taxed by the prospective new home state.
- Last year, a new law (Section 105 of Chapter 32) was enacted that
allowed retirees, on a regular (not disability) pension, to resume
full-time public service and be reinstated as an active member of a
retirement system. They could then retire later with an enhanced
- Application Deadline: April 30 - You have until April 30 to apply for help to pay your heating bills
during this winter. Funded through the federal government, the state's
LIHEAP (Low Income Home Energy Assistance Program) has been providing
assistance to an average of 130,000 individuals and/or families for
more than 25 years.
- Tax time is fast approaching. Because our public pensions are not
taxed by the Commonwealth, many members do not find it necessary to
file a state tax return.
- This year, the 36th Annual Meeting of our Association was held at a
new venue - the Sheraton Colonial in Wakefield on September 17.
- As healthcare costs climb and municipal budgets tighten, more and
more problems have been brewing in communities that agreed to pay
directly for the medical bills of disabled police officers and
firefighters. By adopting the local option law (Section 100B of Chapter
41), a community "indemnifies" its retired police and fire, receiving
an accidental disability pension, and pays all medical bills for their
work-related injuries. Editor's Note: It's important to
remember that this is a local option law and not all cities and towns
have adopted it. In communities, that have not accepted the law,
disabled police and fire submit their bills to their health insurance
- ING Continues To Service Members - With over $2.9 billion in assets, the Commonwealth's Deferred
Compensation Program ranks as the sixth largest public deferred
compensation ("457") plan in the country. Established some 29 years
ago, the Mass. 457 program offers to state workers, and local employees
from the 250+ municipalities and subdivisions that participate in the
state program, a voluntary retirement plan in addition to our public
pension (Chapter 32) system.