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MASSACHUSETTS
PUBLIC EMPLOYEE RETIREMENT GUIDE
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guide is designed to familiarize you with
contributory retirement systems for public
employees. The contents do not affect the
contractual rights between a system and
its members and, in the case of any conflict,
Chapter 32 of the Massachusetts General
Laws and the regulations promulgated by
the Public Employee Retirement Administration
Commission shall govern.
All
citations noted in this document are from
G.L. c. 32 unless otherwise indicated.
Updates
to This Guide This guide reflects
changes and amendments to the law through
the fiscal 2005 state budget.
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Composition
of the Retirement Systems
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THE
MASSACHUSETTS RETIREMENT SYSTEM STRUCTURE
- Public Employee
Retirement Administration Commission
All 106 retirement systems are
overseen by the Public Employee
Retirement Administration Commission
(PERAC), which was created by
Chapter 306 of the Acts of 1996.
- 106 Contributory
Retirement Systems
There are 106 contributory retirement
systems for public employees in
Massachusetts. A retirement board
governs each system and all boards,
although operating independently,
are bound together under one retirement
law—Chapter 32 of the Massachusetts
General Laws—that establishes
benefits, contribution requirements,
and an accounting and funds structure
for all systems.
There are several categories of
retirement systems or boards:
- County Boards
These boards administer retirement
for county employees and employees
of smaller towns and units within
counties that do not have their
own boards. In counties that have
been abolished, regional retirement
boards administer retirement for
retirees and current employees.
- Municipal
Boards
These boards are the retirement
administrators for individual
cities and larger towns within
the Commonwealth.
- State Board
This is the board for all state
employees. There are also some
smaller non-state units that are
administered by this board.
- Teachers’
Board
This board covers all public school
teachers, with the exception of
Boston teachers. The Boston Retirement
Board administers Boston teachers’
benefits, although the state is
responsible for the cost.
- Other Boards
Seven other boards as established
by Chapter 32: the Massachusetts
Turnpike Authority, Massachusetts
Housing Finance Agency, Massachusetts
Port Authority, Blue Hills Regional
School Employees, Greater Lawrence
Sanitary District, Minuteman Regional
Vocational Technical School District,
and Massachusetts Water Resources
Authority.
- Pension Reserves
Investment Management (PRIM) Board
This board is charged with general
supervision of the investment
and reinvestment of the Pension
Reserves Investment Trust (PRIT)
Fund for the state employees,
state teachers, and other participating/purchasing
retirement systems.
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