Latest News

COLA Update

June 15: All 104 local retirement boards have approved a 3% COLA for retirees and survivors effective this July. Anyone on the pension rolls prior to July 1, 2005 will be eligible for this increase. The House and Senate have approved a July 3% COLA for state and teacher retirees. The $12,000 base will remain in effect for this year, therefore a maximum COLA of $360 per year or $30 monthly.

Investing In Massachusetts

A Winner For State and Pension Fund

MAY 2006 - Under State Treasurer Tim Cahill, the Commonwealth's $41 billion Pension Reserves Investment Management (PRIM) Board has instituted a successful economically targeted investment (ETI) program. Its purpose is to invest money in Massachusetts that will boost the state's economy and employment while at the same time produce a market rate of investment return for the pension fund (PRIT Fund).

Turnpike Authority Retirement Board

Fully-Funded At Its Creation

MAY 2006 - When the first shovel full of dirt was moved on January 24, 1955, few could fully realize the impact the Turnpike Authority would have on travel across the Commonwealth.

State Property Tax Relief: New Developments

Circuit Breaker Expands Coverage

MARCH 2006 - With rising - and as some say, inflated - real estate values, members have found it more difficult to qualify for the state's property tax relief program, known as the "circuit breaker." Because of a recent change in that law, you may want to take another look and see if you are now entitled to relief.

Pension Investments On A Roll

'05 Was Another Winning Year For Fund

MARCH 2006 - For the third straight year, the Commonwealth's pension investment fund has been a big winner. With a Year 2005 investment return of 12.69%, the fund has again exceeded its benchmark of 8.25% and grown in value to $40.2 billion at year's end - up from $36 billion at the end of 2004.