Cost-Of-Living Adjustments are voted on annually and if granted, are effective in the July pension check. You must be retired for a full year before the Cost of Living Adjustment is applicable.
Your IRS 1099 forms will be mailed to you by January 31st each year.
There are limitations for those retirees who are receiving a retirement allowance and return to service in the public sector in Massachusetts. A retiree can be employed in the public sector in Massachusetts for not more than 960 hours in a calendar year. The earnings from this employment when added to the retirement allowance cannot exceed the amount currently being paid to the position from which the retiree retired, plus $15,000 after the first calendar year. This limitation applies to all retirees receiving an allowance from a public retirement system in Massachusetts. There are other limitations to retirees receiving a disability pension.
Affidavits will be mailed at least semi-annually and must be returned to our office, signed and notarized, by the date noted on the affidavits. The affidavits are required under MGL and sent to ensure that the proper person is actually receiving the pension and that the retiree is still living. Failure to return your completed affidavit will result in the interruption of your pension.
Health insurance coverage is not administered by the Retirement Board. The retirees’ former employer administers this coverage. Health insurance premiums can be withheld from a retirement allowance. Retirees should contact their employer for information on coverage and determination of premium costs.
Your BCRB pension is Federally taxable but not state taxable in Massachusetts.
Please let us know if you change any of your personal information such as your bank or bank account number, your address, your marital status (married, divorced or widowed) or your telephone number.