Retirement Systems

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

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.

PENSION REFORM III NOW LAW

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.

Lawmakers approve Mass. pension bill

Boston Globe

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.

PENSION REFORM CLEARS SENATE

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.

PENSION BILL IMPACTS RETIREMENT SYSTEMS

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.

RETIREMENT BOARDS TO CONVENE

RETIREMENT BOARDS TO CONVENE

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.

COUGHLIN NAMED TO PLYMOUTH BOARD

COUGHLIN NAMED TO PLYMOUTH BOARD

SEPTEMBER 2011 VOICE: The Plymouth Board of Selectmen has appointed Gerald (Jerry) Coughlin to be their designee on the Plymouth Retirement Board.

Coughlin, treasurer of our Association, had a distinguished career with the Mass. Turnpike Authority where he served as administrator of the Turnpike Retirement Board for many years. After retiring in 1996, he was elected to the Board where he served with fellow elected Board member, the late Frank “Bingo” Hoey.

Essex System Restructuring Complete

Essex System Restructuring Complete

The last step in the restructure of the Essex Regional Retirement System was taken on January 6th when the five members of the new Essex Regional Retirement Board named Charles Kostro as the new Executive Director of the Regional Retirement System.

White Re-Elected To State Board

White Re-Elected To State Board

Association President Ralph White, without opposition, has been elected to a fifth three-year term on the State Retirement Board.

“When the deadline for filing nomination papers came and there were no other candidates it was a surprise to me,” said White. “In the years that I’ve been on either the PRIM or State Board I’ve always had election opposition. However, I don’t regard this (election) as a so-called “free ride.” There are no free rides in this business. The challenge for improvement still exists.