In June 2022, Governor Baker signed H.4456, which suspends the limits on post-retirement work in the Massachusetts public sector through the end of calendar year 2022 or 90 days after the end of the public health emergency declared on May 28, 2021, whichever occurs first. Thus, MTRS retirees are allowed to work without restrictions during this time period. However, please note that the suspension of hours and earnings limits for 2022 does not apply to retirees receiving accidental or ordinary disability retirement benefits. 5% increase on the first $13,000 of your benefit, or $650 per year
As you may know, the Legislature approved the FY 2023 budget on July 18th and the Governor signed it into law on July 28th. The budget includes a cost-of-living adjustment (COLA) effective July 1, 2022, which provides an increase of five percent on the first $13,000 of your retirement benefit, for a maximum increase of $650 per year or $54.17 per month (5% x $13,000/year = $650/year; $650/year ÷ 12 months = $54.17/month).
You are eligible to receive this COLA if you are:
a retiree who retired on or before June 30, 2021;
a survivor of an Option C retiree who retired on or before June 30, 2021;
a survivor of a member who died while in active service on or before June 30, 2021; or,
an accidental death benefit recipient whose benefit began on or before June 30, 2021.
Information Courtesy of REAM Newsletter