News

Register Now for the Pension Education Series: Understanding Your Public Pension and Social Security

The Middlesex County Retirement Board is pleased to announce the schedule of its 2019 Pension Education Series: Understanding Your Public Pension and Social Security. We invite members of the MCRS and their families to attend one of our popular seminars on public employee retirement benefits and the basics of Social Security, including up to date information on how the “Windfall Elimination Provision” and “Government Pension Offset” impact those benefits. 

These sessions are important for your financial planning, whether you are a new member, a vested mid-career member, or nearing retirement. Topics include the retirement benefit calculation formula, health insurance, taxes, working after retirement, cost-of-living adjustments and how your retirement benefits interact with Social Security.  By attending one of our seminars you will learn more about one of your most valuable assets. We look forward to having you join us.

To register for the Wayland session, please click here.

Locations

Dates

   

Wayland Town Hall

Tuesday, June 18, 2019, 4:00 p.m. – 6:00 p.m.

Council on Aging, Pepperell

Thursday, September 19, 2019, 4:00 p.m. – 6:00 p.m.

Acton Town Hall

Thursday, October 10, 2019, 4:00 p.m. – 6:00 p.m.

Council on Aging, Westford

Wednesday, November 6, 2019, 4:00 p.m. – 6:00 p.m.

 

 

COLA

The Middlesex County Retirement Board voted unanimously on February 13th to grant retirees the maximum allowable Cost of Living Adjustment (COLA). The maximum COLA allowed by law for retirees of the Middlesex County Retirement System is 3% of the first $16,000 of retirement benefits, or $480.00 per year.  This increase will take effect on July 1.

 

Board Raises COLA Base to $16,000

Good news for our retirees!  After carefully reviewing the System’s liabilities, the Middlesex County Retirement Board voted unanimously to increase the current $14,000 base amount upon which annual retiree Cost of Living Adjustments (COLAs) are calculated.  Effective July 1, 2019, the COLA will be calculated at up to 3% of the first $16,000 of a retiree’s annual benefit.  The Board’s action was unanimously ratified by the Middlesex County Retirement Board Advisory Council on December 19, 2018.  See our Newsflash for more details.

Brian Curtin Re-Elected as Second Member

On January 16th, Brian Curtin was officially sworn in as the second member of the Middlesex County Retirement Board.  PERAC Executive Director John Parsons administered the oath of office.  See our Newsflash for more details.

2018 Fall Newsletter

The Fall 2018 Newsletter has been posted to the site.  Highlights of this issue include: how the System’s assets are accumulated as well as its investment performance over the years, health insurance premium exclusions for public safety retirees, why active members should have a current Beneficiary Selection Form on file, a social security update and an explanation of superannuation retirement benefits. We salute PERAC Executive Director Joe Connarton, who will retire at the end of this year. We remember former Board Member, Larry Driscoll, who passed away in November.