807 CMR, § 13.02 - Definitions

For purposes of 807 CMR 13.00, the following terms shall have the following meanings:

Elect or Election shall mean the filing with the MTRS of a written decision, in a form prescribed by the MTRS, to participate or not to participate in the RetirementPlus program.

Election Opportunity shall mean the 180-day election "window" available to some Transferees in M.G.L. c. 32, § 5(4). Said election "window" shall begin on the date when the MTRS notifies the member that it has received the transfer of the member's account from the other contributory retirement system. A surviving spouse who is eligible for a member survivor allowance may make an election within this period if the member had not previously made an election. An election made during the "window" will relate back to the first day the MTRS received payroll deductions on behalf of the member.

Make up Payments shall mean payments the amount of which equals the difference between the contributions received by the MTRS, and the contribution rate in effect for RetirementPlus from the member's regular compensation through the date the MTRS first invoices the member, plus buyback interest accruing after the initial due date of this invoice through the date of MTRS's receipt of its full payment.

RetirementPlus shall mean the enhanced superannuation retirement allowance provided for in M.G.L. c. 32, § 5(4). This term includes the Teachers' Alternate Retirement Program ("TARP") of the State-Boston Retirement System.

Transferee shall mean any member of another M.G.L. c. 32 contributory retirement system who is transferring his or her membership to the MTRS, or a member of the MTRS who is transferring to a M.G.L. c. 32 contributory retirement system other than the MTRS or the State-Boston Retirement System.

Notes

807 CMR, § 13.02

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