Saturday, June 27, 2015

Let's Talk About Pensions!

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What is MSERS?


The Massachusetts State Retirement Board administers the Massachusetts State Employees’ Retirement System (MSERS) for state employees and certain other employees of public entities. 

The Board also administers the former Massachusetts Turnpike Authority Employees’ Retirement System and benefits for members of the Judiciary. 

The MSERS is a contributory defined benefit retirement system governed by Massachusetts General Law Chapter 32. The system provides retirement, disability, survivor, and death benefits to members and their beneficiaries. This governmental plan is a Code section 401(a) retirement plan under Code section 414(d) of the Internal Revenue Code, established and maintained for the employees of the Commonwealth.

Membership in the system is mandatory for nearly all state employees who are employed on a part-time (minimum half time) or full-time permanent basis.