Retiree Checklist
- At your institution:
- Provide a written notice of your retirement to your institution
- Return all equipment in your possession, including keys, laptops, tablets, cameras, library materials etc. on or before your last day.
- Contact a state retirement counselor to learn about your estimated benefit amount
- The Massachusetts State Retirement Board can be reached at 617-727-2310
- Ed McCourt’s information is available below this checklist
- Complete the retirement application (PDF) no more than 120 days before your retirement date.
- Review GIC benefit options
- Complete Form-1A – request for the form to be emailed to you
- Complete Form-RD if you want to enroll in retiree dental. You can request it along with the Form-1A
- If you are over 65 and eligible for Medicare, contact Medicare to enroll in Part B (or Part A if you didn’t enroll when you turned 65)
- If you are eligible for social security benefits, reach out to them at 800-772-1213 to find out your options
- If you have a 403b or SMART Plan, reach out to them to discuss your options upon retirement
- SMART Plan – 877-457-1900
- TIAA-CREF – 800-842-2776
- Fidelity – 603-865-6266
- VALIC – 800-448-2542
Wherever you are in your career as a higher ed instructor or professional staff member, it is in your interest to be informed about your retirement benefit and about planning for the transition out of state employment. The HR office at your institution may be of some assistance with this. You also might engage the services of a financial planner who understands the needs of higher ed employees of the Commonwealth.
MTA employs several part-time retirement consultants who are available to advise members about and to help members through the retirement process. One of these consultants, retired MCCC member Ed McCourt serves the needs of all higher ed for MTA.
Ed may be contacted at emccourt@massteacher.org or at 781-325-2553. He is available to work with members by email and over the phone. Ed also schedules visits to higher ed settings state-wide, such as chapter visits, to do individual and group retirement counseling sessions. He welcomes contact from individuals as well as campus chapter leaders.
Questions you might ask include:
- Given my age and my service, when is the best time for me to retire?
- I’ve heard that members may be able to “buy back” service. Might I have a buy back opportunity?
- I’m involved with the Section-60 option for transfer into the MSERS? Where I am in this process?
- Why take option “C” instead of Option “A” or “B”?
- How will my Social Security benefit be affected by my State pension?
- Where will I stand with health insurance in retirement? Will I be going into Medicare?
- As I move toward retirement, what, if any options, exists for me to enhance my retirement benefit?