H00701 Would increase the COLA Base to $16,000 in 2012 and then every four years would continue to raise the COLA Base based on a percentage of what the maximum Social Security allowance is at the time. In addition, the Public Service Committee recommended that COLAs be based on Consumer Price Index changes as determined by the Social Security
Administration or 3 percent, whichever is greater. This is a very good clause. Filed by Rep. Jay Kaufman
COLA Base increased to $13,000 as a result of Pension Reform Bill
In 2011 the Maximum Social Security is $28,392 so we are using that figure to determine the following COLA bases. Obviously, Social Security will increase and so will the COLA base in the year specified.
2012 Raise Base to $16,000 immediately or increase by 3% or CPI, whichever is greater
2016 First 4 year cycle Cola Base would be 65% of Max. Soc. Sec. Benefit or $18,450
2020 Second 4 year cycle Cola Base would be 75% of Max. Soc. Sec. Benefit or $21,290
2024 Third 4 year cycle Cola base would be 85% of Max. Soc. Sec. Benefit or $24,133
2028 Last 4 year cycle Cola Base would be 95% of Max. Soc. Sec. Benefit or $26,972
2032 At end of this last cycle Cola Base would be 100% of Max. Soc. Sec. Benefit or $28,392 and would increase in future cycles based on the maximum Social Security benefit of the time.
Back
The MTRS provided us the following information on the original bills cost and those who used it:
SB1298 Would allow those who were retired as of Sept. 2000 and are eligible because they had a child prior to 1975 to receive up to 4 years of maternity benefits similar to what those still teaching received in 2000. Filed by Sen. Susan Fargo. If the original maternity bill was the correction of an act of discrimination--- this bill completes the correction by giving to those who retired by the Sept. date the same benefit as long as they do not exceed the 80%.
SB1298 has passed the Senate as it was included in the Senate version of the Pension Reform Bill
Maternity Bill passed and signed by the Governor. Great job Massachusetts Retirees United!
H01595 Would allow those retired prior to April 1996 and were veterans to receive up to 4 years toward their creditable service providing they do not exceed 80% This bill was filed by Rep. Paul Donato. If the original bill was to acknowledge the service one rendered for one’s country how could those who rendered the service but were retired be ignored? There are 671 men and woman classified as veterans, according to the MTRS, still alive who were forgotten when this bill was passed. The best way for each of us to show we appreciate the service they unselfishly gave is to call our Reps and Senators and ask them to support all the way to the Governor’s desk H01595. Please also call your local Veteran’s Agent and ask them to support this measure. It is a small thing we can do for these fine people who did so much for us. Don’t put off making these calls, as they did not put off the call to serve. Co-Sponsors of the bill: Rep. Sarah Peake, Senator Michael Moore, Senator Michael Knapik, Rep. Donald Humason, Rep. Paul McMurtry, Rep. Stephen Stat Smith, Rep Theodore Speliotis
Back
Work Bill
SB01362 While a former teacher or administrator is collecting a retirement allowance from the Massachusetts Teachers’ Retirement System, he or she may work for a public employer in Massachusetts for a maximum of 960 hours in a calendar year. Additionally, the salary that the person receives from this position, when added to his or her retirement allowance, cannot exceed the salary that is being paid for the position from which he or she retired.
This bill filed by Senator Michael J. Rodrigues would increase by $15,000 the amount that a retiree could earn in a calendar year.
SB01362 has passed the Senate as it was included in the Senate version of the Pension Reform Bill
This bill has passed and been signed by the Governor! Great job Massachusetts Retirees United!
GIC Insurance Reinstatement of State paying part of Medicare B Premium
Request that the State pay the amount of the Medicare B premiums that they formally paid for those under The Group Insurance Commission (GIC).
There are some 75 communities of teachers and all those who retired under the State Retirement System that are affected by this. Because GIC forced people to go on Medicare B they paid part (or all) of the premium until Jane Swift took it away to balance her budget with the promise that it would be reinstated when times were better.
S1291 Reinstates the payment by the State of a portion of the Medicare B premiums for those under the Group Insurance Commission plan. Filed by Senator Kenneth Donnelly
This was a contract that the GIC had with retirees and was broken in the name of budget balancing.
Back
It allows those who retired prior to July 1, 2004 and took Option B to have the penalty rate reduced to 1% instead of the 3% they had to take.
Those who took Option C will have the penalty rate reduced to the new rate, which is approximately half the penalty that they took.
In July 2004, PERAC, with Legislative approval, decreased the 3 - 5% penalty
of Option B to 1 - 2%. Most frequently it is a 1% decrease.
In July 2004, PERAC, with Legislative approval, decreased the Option C penalty based on new actuarial assumptions.
The decrease made the penalty half or less of what it had been previously.
Number of Retirees Affected
There are over 5,000 teachers who retired prior to July 2004 and took an Option B and over 2800 teachers who retired prior to July 2004 and took an Option C.
There are over 2500 beneficiaries who are getting a survivor benefit and the active member retired prior to July 2004.
Option B and Option C currently have 3 different penalties. The penalty assigned to those who retired prior to January 1988 whose penalty is also factored on the gender of the member, and in the case of Option C on the beneficiary as well. The penalty that exists for those who retired prior after January 1988 and prior to July 2004, and the penalty assigned to those who retired after July 2004. The heaviest penalty is on those who have the smallest pension.
Example:
PENSION AFTER JULY 2004
The teacher is 60 years of age at retirement and the beneficiary (for Option C purpose only) is 52 years of age.
Option A - $40,000 Option B - $39,600 Option C - $35,600 Beneficiary - $23,733
PENSION PRIOR TO JULY 2004
The same teacher and beneficiary
Option A - $40,000 Option B - $38,800 or $800 less a year or $66 less a month
Option C -$30,164 or $5,436 less a year or $453 less a month
Beneficiary - $20,109 or $3,624 less a year or $302 less a month
Most of those who retired prior to July 2004 have pensions close to half or less of this $40,000 example. $40,000 was used to have a uniform pension. The pre- 1988 retirees suffer a greater lose. This is definitely a fairness issue!
H2955 Reduction of the Option B and Option C penalties for those retired prior to July 2004. Those retired prior to that date and selected Option B had their pension decreased by 3% instead of the 1% of those retiring after July 2004. This bill would reduce the penalty to 1%. This bill would reduce the Option C penalty to the lower rate of that enjoyed by those retiring after July 2004. Filed by Rep. Thomas A. Golden, Jr. We feel this is a justice issue. Many of the older retirees have nothing left in their fund under Option B and still receive 2% less in pension than those retiring after 2004. Also the Option C penalty of those prior to 2004 is almost twice that of those retiring on larger pensions after that date. Hearing at the State House Nov. 16, 2009 A-2 11 a.m.
H.2955 has been voted favorably out of the Public Service Committee and is currently in the House Ways and Means
Retirement Security Bill for those receiving a State Pension prior to January 1, 1990.
It employs a formula that will give a one-time increase to their pensions
but will be added to them permanently.
Information on the Benefit
Formula
Years of Creditable Service x Years in Retirement x 2.
35 Y/S x 20 Y/R = 700 x 2 = $1,400 added to this person’s pension.
15 Y/S x 20 Y/R= 300 x 2= $600 added to this person’s pension.
40 Y/S x 30 Y/R = 1200 x 2= $2,400 added to this person’s pension.
30 Y/S x 18 Y/R = 540 x 2= $1,080 added to pension.
H00711 Retirement Security Bill would be a one time attachment to the pensions of those who retired prior to January 1, 1990. It would take the number of full years of public service times the number of full years retired times two and add that amount of dollars to their pension. Filed by Rep. David Nangle. We feel this bill is fairer than the Minimum Pension as it gives an amount based on years of service plus years retired to ALL and does not lump all who have 25 years of service or more into the same group while ignoring those with less service but have paltry pensions.
Back
Certification
H00166 This legislation provides for the continued certification of teachers upon retirement. There would be no need to reapply for certification if one wanted to work in teaching in the public sector once retired. H00166 was filed by Representative Todd Smola
Legislative update on any retirement issue affecting both active and retired teachers of the Commonwealth of Massachusetts can be found here.
This site will enable you to reach any Senator or Representative on Beacon Hill. By simply clicking on their name , you will get complete information on them, and access to their email address.
Back