The Spring 2022 Newsletter has been posted to the website. Highlights of this issue include information on the COLA, what you need to know if you are collecting social security and planning to retire, member request processing times, award recognition for Board member Robert Healy, and much more.
The Middlesex County Retirement System voted unanimously on March 16th 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. The increase will take effect for eligibile retirees on July 1st.
Wednesday, May 4, 2022 from 4:00 p.m. – 5:30 p.m.
The Middlesex County Retirement System is pleased to present our popular pension education program to provide our members and their families with up-to-date information about their public retirement benefits. This 90-minute webinar will include information on the retirement application process, retirement benefit calculations and payment options, and how your MCRS retirement benefits interact with Social Security.
The virtual program is free, but preregistration is required. There are a limited number of spots so click here to register.
On February 25, 2022, members and beneficiaries who receive a pension, retirement allowance, or survivor’s allowance from the Middlesex County Retirement System were mailed a Benefit Verification Affidavit. If you are a benefit reicipient, you must complete, sign and return via mail the Affidavit certifying your eligiblity to continue receiving benefits. Affidavits must be returned to our office by April 15, 2022 to avoid an interruption in benefit payments.
If you have any questions, please do nt hesitate to contact our office. Thank you in advance for your cooperation.
On January 21, 2022 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.