1. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 1 COLA Information & Reporting any changes to The State Retirement Board

2. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 2 COLA Reimbursement Basics

3. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 3 The State’s liability for COLA reimbursement began on July 1 st, 1981.

4. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 4 The State is responsible for COLA reimbursement to Cities, Towns, and Counties for all retirement benefits through December 31 st, 1994

5. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 5 The monthly benefit amount on our report reflects the amount that the recipient was receiving on July 1 st, 1981

6. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 6 Minimum Survivor benefits are given on Section 12 and Section 101. The monthly benefit should be $140 unless: The Amount was greater on 7/1/1981 Section 12 was calculated to more than $140.

7. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 7 Our program will calculate the appropriate COLA due by internally raising this minimum to $250 and $500 on the effective dates of the increases.

8. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 8 Reporting Dependents

9. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 9 Our Board needs the names and dates of birth of dependent children on Section 12 and disability benefits.

10. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 10 The Board report shows “minor” on a child paid through age 18 and “student” if paid through age 21 or 22.

11. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 11 In the case of an incapacitated child, the case should never terminate until said child ceases to receive benefits.

12. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 12 If a parent of an incapacitated child dies, and a guardian is appointed, the State Retirement Board should be advised. If the child dies, you need to specify this on the report.

13. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 13 The monthly benefit amounts on dependents should be either $80, $60, or $26 (unless these amounts were greater on 7/1/1981). Again, our program will adjust these amounts on the effective dates of the increases and pay the proper COLA due.

14. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 14 Reporting Deaths

15. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 15 When reporting the death of a retiree, if there is a survivor benefit, our Board needs the name and social security number of said survivor and the type of benefit: Option C or 101 Widow. The monthly amount is not necessary to report.

16. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 16 If the benefit is a Section 9 or Accidental Death Benefit, the Board needs the original monthly amount due to the beneficiary. This figure is the 72% portion of the retiree’s original allowance (without the annuity).

17. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 17 When reporting a death, please indicate if the deceased was receiving two pensions (i.e. his or her own pension, plus a survivor benefit).

18. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 18 Other Notes

19. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 19 Notification of changes should be made to the State Retirement Board at least twice a year.

20. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 20 Our payments are made at the end of June and again at the end of December. Please make sure updates are sent no later than the first week in June / December so adjustments will be reflected in the proper payments.

21. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 21 At this time, the Board prefers that you utilize our COLA Update Form when notifying it of changes. This will eliminate the need to send the whole report back to the board. Some boards have internal spreads sheets or reports which are acceptable as long as the board code and payee ID is listed.

22. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 22 If there are no changes to report prior to the June and/or December payments, the Board appreciates receiving a short memo to that effect.

23. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 23 Calculation Examples

31. Office of State Treasurer Deborah B. Goldbergmass.gov/retirement The Massachusetts State Employees’ Retirement System You Serve the Commonwealth. We Serve You. 31 If you have any further questions regarding this process, please contact the State Retirement Board’s COLA Coordinator.