Retirement Scenarios
Under 10 years of creditable service: Members vest in the retirement system when they reach 10 years of creditable service. If you have less than 10 years of creditable service you may want to keep your contributions with the State Retirement Board in anticipation of future state employment.
Under Age 55 and 10 to 20 years of creditable service: If you have more than 10 years but less than 20 years of creditable service, and are under age 55, you should consider keeping your contributions with the State Retirement Board. At age 55 you will become eligible to receive a pension.
Age 55 with minimum 10 years: If you are age 55 or older and have a minimum of ten years of creditable service, you are eligible to retire.
20 Years of Service: If you have 20 years of creditable service, regardless of your age, and you are terminated or removed from your position involuntarily (and for reasons that do not involve moral turpitude), you are eligible for a special “termination retirement” which includes a calculation that could enhance your retirement allowance. (If you have substantially more than 20 years, you may do better under the regular retirement formula.)
Active USA/MTA members may utilize the valuable services of an MTA retirement consultants for one-on-one sessions, free of charge.
Visit the Retirement Planning page on the MTA website for more information.
Additional Links:
- Online pension calculator
- Benefit Guide for MA State Employees Retirement System
- The folks at MTA can help
- Benefits of being a retired member
- Disability Retirement information
Reminder: dental benefits do not continue when you retire – check out the MTA Benefits plan!
Some links to plan for the future:
- 403(b) plan. Plan carriers vendors include TIAA/CREF, VALIC and Fidelity.
- 457/SMART plan with E
- MTA has a 403B plan
