On January 22, 2025 members and beneficiaries who receive a pension, retirement allowance, or survivor’s allowance from the Middlesex County Retirement System were mailed a Form 1099R. For general information about the taxation of your benefits, click here. Please be aware, however, that the retirement office is not able to provide specific tax advice. For additional assistance, our benefit recipients are encouraged to contact a tax consultant.
On Sunday, January 5, 2025, President Biden signed into law the Social Security Fairness Act which repeals the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) provisions of the Social Security Law that for decades impacted many retirees by reducing or outright eliminating Social Security benefits they and their spouses had fully contributed to from their non-public service.
From the Board’s and PERAC’s understanding, there is nothing for members to do at this point. The SSA will need time to implement the changes in the law and process recalculations. Please direct your specific questions to your local Social Security Office: https://secure.ssa.gov/ICON/main.jsp
The Middlesex County Retirement Board is pleased to kick off its 2025 Pension Education Series: Understanding Your Public Pension and Social Security with two small group presentations at the retirement office. We invite members of the Middlesex County Retirement System and their families to attend this popular seminar on public employee retirement benefits and the basics of Social Security.
This session is 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 a Social Security update. By attending this seminar you will learn more about one of your most valuable assets. We look forward to having you join us.
To register for one of the sessions listed below, email mrs@middlesexretirement.org. The regional meetings will be announced once the schedule has been finalized.
| Locations | Dates |
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Middlesex County Retirement System Office – 25 Linnell Circle, Billerica, Second Floor – Limit 20 Members |
Tuesday, January 21, 2025 at 4:00 – 5:30 p.m. – AT CAPACITY |
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Middlesex County Retirement System Office -25 Linnell Circle, Billerica, Second Floor – Limit 20 Members |
Tuesday, February 18, 2025 at 4:00 – 5:30 p.m. – AT CAPACITY |
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Middlesex County Retirement System Office -25 Linnell Circle, Billerica, Second Floor – Limit 20 Members |
Tuesday, March 18, 2025 at 4:00 – 5:30 p.m. – AT CAPACITY |
The Fall 2024 Newsletter has been posted to the website.We report on important new laws impacting retirement benefits and military service purchases. Highlights also include a Q&A on Option D, COLA information from the Social Security Administration, year end reminders for our members, and more.
The Middlesex County Retirement System’s 2023 GASB 67 & 68 Report, 2024 System Actuarial Valuation, and Final Audit Report of Financial Statements as of December 31, 2023 are now available.