Charting your Path
to Retirement
Charting your Path
to Retirement
Charting your Path
to Retirement

Building for the future since 1948

Request For Proposals – Actuarial Consulting Services
The MBTA Retirement Fund has issued a Request for Proposals for Actuarial Consulting Services. Complete details are available on our Requests For Proposals web page here.
Important Notice to Retirement Fund Members Regarding Changes to the Pension Agreement
The Massachusetts Bay Transportation Authority (“Authority”) and the Local 589, Amalgamated Transit Union, AFL-CIO (“Union”) entered into a new Pension Agreement that made important changes. Those changes included the creation of a two-tier pension benefit structure consisting of the Group A Plan and the Group B Plan. The Authority and Union entered into a side letter on January 29, 2024 (the “Side Letter”) that made two changes for employees who became Members of the Fund on or before June 30, 2023 (each, a “Qualified Member”).

  • First, the Side Letter extends the period for a Qualified Member to elect to join the Group B Plan. In order for a Qualified Member (who did not previously elect to join the Group B Plan) to elect to join the Group B Plan, the Fund must receive such Qualified Member’s election by March 29, 2024.
  • Second, the Side Letter permits each Qualified Member who elected to join the Group B Plan to revoke their election and revert back to the Group A Plan. To do so, the Fund must receive such Qualified Member’s revocation by March 29, 2024. Please be aware that once revoked, such Qualified Member will not have the option to elect to join the Group B Plan again.

Please also note the following:

  • Please note that if you are either (i) a Qualified Member who previously elected to join the Group B Plan and do not wish to revoke your election, or (ii) a Qualified Member who did not elect to join the Group B Plan and do not wish to elect to join the Group B Plan, then no further action is required.
  • The Authority and Union will not make any additional extensions for Qualified Members to join or revoke their election to join the Group B Plan.

Please see the Retirement Fund’s letter to Members regarding the Group B election extension. The Retirement Fund has also prepared this Benefit Comparison Guide  and PowerPoint for your reference. You may also consult our new supplemental FAQs for information specific to the Group A and Group B Plan’s

2022 GFOA Certificate of Achievement for Excellence in Financial Reporting
The Retirement Board is committed to providing MBTA Retirement Fund members, retirees and the general public with transparency into its accounting and financial reporting, and is pleased to announce that the MBTA Retirement Fund’s annual comprehensive financial report for the fiscal year ended December 31, 2022 was awarded the Government Finance Officers Association’s (GFOA) Certificate of Achievement for Excellence in Financial Reporting (the Certificate of Excellence) on January 10, 2024. The MBTA Retirement Fund’s Finance Department was also presented with the GFOA’s Award of Financial Reporting Achievement because of its role in earning the Certificate of Excellence.

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure and then to recognize those that succeed in achieving the goal. The GFOA describes the Certificate of Excellence as the “highest form of recognition in governmental accounting and financial reporting.” The Retirement Board is proud to report that this is the seventh consecutive year the MBTA Retirement Fund’s financial reporting has been recognized with the Certificate of Achievement for Excellence in Financial Reporting.

Direct Deposit Change Requests
For the protection of our Members, the Retirement Fund has adopted a new policy for changing direct deposit information. All Retired Members who wish to make a change must use the new Direct Deposit Change Form.

Please read the instructions on the form carefully. Any request that does not adhere to the requirements outlined will be rejected.

The completed form must be printed, signed, and mailed to the Retirement Fund. Forms sent via email or fax will not be accepted. Forms received by the 10th of each month will be in effect for that month’s benefit payments. Otherwise, the change will take effect the following month.

Video Library
The Retirement Fund has created a new video library dedicated to helping our Member’s learn more about the Retirement Fund and the tools available to our Membership. Click here to access the library and check back soon for new content.

MBTA Retirement Fund In-Person Office Protocols & Requirements

The MBTA Retirement Fund (the “Retirement Fund”) is committed to the health and safety of its Members, retirees, beneficiaries, and employees. To better ensure a safe office environment, the Retirement Fund has implemented the following protocols with guidance from the CDC, OSHA, the Commonwealth and the City of Boston health department. These protocols will be in effect beginning on May 2, 2022 and continue until further notice. Please be sure to check our website (www.mbtarf.com) for important notices.

    • Telephone Hours. Monday through Friday, except holidays, from 8:30 AM to 4:30 PM, you can contact the Retirement Fund at (617) 316-3800 or (800) 810-6228.
    • In-Person Services. Monday through Friday, except holidays, from 8:30 AM to 4:30 PM, the Retirement Fund is open for in-person services, as described below. You will be required to wear a mask to enter the Retirement Fund office. If you are experiencing symptoms consistent with COVID-19 or were recently exposed to someone that had COVID-19, then you should not visit the Retirement Fund’s office
    • Limited Walk-In Services. The Retirement Fund’s walk-in services are currently limited to a 15-minute maximum per visitor. In addition to a Retirement Fund staff member being available to receive drop off materials at the Retirement Fund office, the following services are available for walk-in visitors:
        – Change of address;
        – Direct deposit information;
        – Notification of deceased members;
        – Dropped off Fund correspondence; and
        – Return of contribution applications.
    • Services Requiring an Appointment. All other services offered by the Retirement Fund require a scheduled appointment. These services include:
        – Retirement benefit estimates;
        – Creditable service reviews;
        – Review of disability-related retirement applications;
        – Retirement applications and consultations;
        – Workmen’s compensation service credit reviews; and
        – Document notarization services.

    We encourage you to review our website (www.mbtarf.com) for additional retirement benefit information and access to forms that you may need to conduct business with the Retirement Fund both in-person and remotely.
    .

New! Member Self-Service
The MBTA Retirement Fund is pleased to offer a new online platform for Active and Retired Members. Please click here or use the URL below to access this new website. You will need to register for an account even if you currently have an account on mbtarf.com.

Please call our office at 617-316-3800 if you have any questions. Someone on our Staff will return your call as soon as possible. We also encourage you to send feedback to webmaster@mbtarf.com

Thank you

https://www.pensiontechnologygroup.com/mbta

The Massachusetts Bay Transportation Authority Retirement Fund is a private trust created in 1948 by the Metropolitan Transit Authority, the predecessor agency to the Massachusetts Bay Transportation Authority (“MBTA”) and The Boston Carmen’s Union, Amalgamated Transit Union Local 589. Our mission then, as now, is to provide retirement benefits for our members – the transit workers and other employees of the MBTA. To ensure that the pensions earned by active and retired members, and their beneficiaries, remain secure, we are dedicated to managing a strong and diversified investment program.

IMPORTANT NOTICES

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