807 CMR, § 13.01 - Purpose

The purpose of 807 CMR 13.00 is to bring certainty and definiteness to the requirements of M.G.L. c. 32, § 5(4) and St. 2022, c. 134, governing the elections regarding the enhanced superannuation retirement plan, "RetirementPlus," provided in that statute for Transferees. Specifically, the purpose is to clarify the election opportunities available to:

(1) members transferring into the Massachusetts Teachers' Retirement System ("MTRS") whether they have already made an election regarding RetirementPlus, or who have failed to do so;

(2) members who have taken refunds;

(3) members transferring out of the MTRS, consistent with the statutory requirement that all such elections be irrevocable; and

(4) members who are mandatory RetirementPlus participants who transfer out of the MTRS.

Notes

807 CMR, § 13.01

Amended by Mass Register Issue 1483, eff. 11/14/2022 (EMERGENCY). Amended by Mass Register Issue 1490, eff. 11/14/2023 (COMPLIANCE).