November 14, 2013 - The Middlesex County Retirement Board has appointed Robert Healy to be the Fifth Member of the Board, in accordance with the provisions of G.L. c. 34B, s. 19(4). Bob is a resident of Lowell and the former City Manager of the City of Cambridge, with over 43 years of experience in municipal administration, including local retirement systems. Bob is an Adjunct Lecturer in Public Policy, and Fellow at the Taubman Center for State and Local Government at Harvard Kennedy School.
Bob will be an important contributor to the operations of the Middlesex County Retirement System, and the Board looks forward to his service.
October 23, 2013 - The Board has posted a Notice of Vacancy on Board.
October 10, 2013 - The Middlesex County Retirement Board is sad to report the passing of Board Member James M. Gookin. Jim was a valued member of the Board since 1999 and a staunch advocate for the System’s members and their families. He will be sorely missed. Please click here for further details and tributes.
June 20, 2013
- The Spring Newsletter has been added to our site Spring Newsletter. Please note that due to a mailing error, some members may receive a newsletter containing the incorrect name of the addressee. We apologize for any inconvenience.
|May 16, 2013 - Notice of Mandatory Direct Deposit effective January 1, 2014.
May 1, 2013 - 2012 Annual Statement posted to site.
May 1, 2013 - Effective July 1st, the Board has granted a 3% cost of living increase (COLA) to qualifying retirees and beneficiaries on the base maximum of $14,000 of benefits. Retirees receiving an annual benefit of $14,000 or more will receive a monthly increase of $35.00.
|March 5, 2013 - Newsflash on Pending Retiree Health Care Legislation posted to site.
February 14, 2013 - 2012 Valuation Report posted to site.
|January 22, 2013 - Interest charges on certain service purchases will double on April 2, 2013. Notice
November 29, 2012 - On September 19, 2012 Middlesex County Retirement System hosted a meeting for Personnel Administrators and Human Resource Officers. Numerous important topics were discussed such as member creditable service, retirement benefit calculations, regular compensation and anti spiking regulations as well as involuntary retirement, termination retirement, and collective bargaining agreements. Please view the power point which was presented at the meeting.
October 31, 2012 - Select Cases and Current Legal Issues Power Point presented on October 16, 2012 to the Massachusetts Association of Contributory Retirement Systems Fall Conference. View Presentation.
October 22, 2012 - Social Security Announces 1.7 Percent Benefit Increase for 2013. S.S. Information
June 25, 2012 - 2012 Summer Newsflash added to site
May 2, 2012 - 2011 Annual Statement added to website. Retirement and Survivor Guides updated by PERAC added to website.
April 30, 2012 - National Institute on Retirement Security. Pensionomics 2012: Measuring the Economic Impact of DB Pension Expenditures.
MA State Fact Sheet
March 28, 2012 - 2012 Spring Newsletter
February 27, 2012 - Notice of Changes to the Retirement Law Impacting Current Members:
1. Buybacks of Prior Service. Our members are advised that in accordance with the recently enacted reforms to the pension laws, as of April 2, 2012 members who are entitled to purchase creditable service must complete the purchase by April 2, 2013 or interest on the purchase will be increased to 8.125%. If you are interested in purchasing prior service or redepositing a prior refund of accumulated deductions, you are encouraged to file your request as soon as possible with the Middlesex County Retirement System. Please contact the Retirement Board for additional details.
2. Same Sex Marriage Option Change. A retiree may change his or her option to Option C in limited circumstances involving same sex marriage. There is a very small window of opportunity to elect this option change. If you (a) retired before May 17, 2004, (b) picked Option A or B upon retirement, and (c) entered into a same sex marriage between May 17, 2004 and May 17, 2005, you will be allowed to elect to change the option selection to Option C. Please contact the Retirement Board for additional details. For more information click here: Same Sex Option Change
December 19, 2011 - Please find a summary of Chapter 176 of the Acts of 2011. Chapter 176 Summary
December 5, 2011 - On November 18, 2011, the Governor signed into law Chapter 176 of the Acts of 2011, AN ACT PROVIDING FOR PENSION REFORM AND BENEFIT MODERNIZATION. An analysis of the impact of this new law is being conducted and will be posted shortly. Click on the following link to view the law. Acts of 2011.
WELCOME TO OUR WEBSITE!
The Middlesex County Retirement Board is pleased to provide our active and retired members, their families, and the public, access to information about the Middlesex County Retirement System.
It is our intention that the website be used as a helpful retirement planning tool, as a reliable source of important explanations of the public employee retirement law, and a way to report current news about retirement benefits.
Originally created by an Act of the Legislature in 1911, the Middlesex County Retirement System is the fourth largest of the 105 retirement systems in the Commonwealth. We provide retirement, disability and survivor benefits to approximately 5,000 retirees and 10,000 active employees of 31 Towns and 39 Districts and Authorites within Middlesex County. We're happy that you have visited and we encourage you to browse often!
OUR MISSION STATEMENT
The mission of the Middlesex County Retirement Board is to provide secure retirement benefits lawfully earned through public service to the members and beneficiaries of the Middlesex County Retirement System, and to administer those benefits with the highest degree of Prudence, Integrity and Fiscal Responsibility.
Notice of Meetings
OPEN MEETING NOTICE
NEXT SCHEDULED MEETING:
Date: Fri. Dec. 13, 2013
Time: 09:30 a.m.
Location: MCRS, 25 Linnell Circle, Billerica, MA
Advisory Council, Regular Board Meeting and Election if necessary
Agenda - Advisory
Middlesex County Retirement
System Member Unit Listing
View The Listing
RECENT ARTICLES & REPORTS
Pension Reform and Plan Design in Massachusetts Public Plans. Presentation - Posted 6/6/13
National Institue on Retirement Security. Impact of DB Pension Expenditures.
MA State Fact Sheet - Posted 4/30/12
Comparing Compensation: State-Local Versus Private Sector Workers - Posted 9/27/11
Workforce Characteristics and Wages in the Public and Private Sectors - Posted 4/5/11
Demystifing the State Pension System - Posted 4/5/11
Out of Balance? Comparing Public and Private Sector Compensation Over 20 Years. Posted 4/10
2011 Spring/Summer Newsletter
NEWSFLASH - 2010 Winter
2010 Winter/Fall Newsletter
View the Fall 2010 Newsletter
2010 June Newsflash
View the Newsflash
View The Newsletter
2009 Spring/Summer Newsletter
View The Newsletter