Worcester Firefighters IAFF Local 1009 -

Below is an overview with links to retirement information as available from www.mass.gov. You can also view the most up to date information on the PERAC web site found at http://www.mass.gov/perac/index.htm

PERAC Retirement Guide

There are three options to choose from, they are:

Option A

Allows you to receive the largest retirement allowance possible in monthly payments. However, all allowance payments will stop upon your death and no benefits will be provided to your survivors.
Option B

Provides you a monthly pension allowance approximately three to five percent less than option "A." This option provides a lump sum payment of the balance of deposits and interest to a named beneficiary at your death.
Option C

Also known as the Joint and Last Survivor Allowance, Upon your death, your designated beneficiary will be paid an allowance for the remainder of his or her life...
Option D (If Member Dies Before Retirement)
This Beneficiary Selction allows a member to select an eligible beneficiary to receive an allowance if the member dies before retitrement and to select a beneficiary(ies) to receive payment of accumulated deductions and other payments due to a member if the member dies before retirement. Keep the followinf in mind:

Only certain of your relatives qualify as an eligible beneficiary for benfits under G.L. c. 32, § 12(2)(d), but any person or entity can be selected as a beneficiary(ies) for a return of your accumulated total deductions.
Your selection on this form may be superseded by an eligible spouse under the provisions of G.L. c. 32, § 12(2)(d) if you die before reitement.
This form becomes void upon your retirement.
If you divorce or your personal situation changes, you may wish to file a new form withyour retirement board.

Retirement Factors Spreadsheet - Group 4 Employees

Beneficiary Selection Form (Active Employee)

Beneficiary Form Instructions

Frequently Asked Questions Regarding Option D

Calculate your Benefits

This pension calculator will give members of the Massachusetts Employees' State Retirement System in groups 1, 2 or 4 an approximation of their retirement benefits.

If you are a member of the State Police Department, a judge, a correction officer seeking a "20/50" retirement, or would like an estimate for a Section 10(2) (termination allowance) or disability retirement, contact the retirement board for more information.

Please note that actual pension amounts can ONLY be calculated at the time of retirement under M.G.L. c.32.

Generally, retirement benefits are based on four factors:

Your age
Your years of creditable service
The average of your three highest consecutive years' salaries
Your group classification (Group class is determined by the State Board of Retirement at time of retirement)

Retirement Allowance Options

Option A - Full retirement allowance, all benefits stop upon your death.
Option B - Reduced (1-5% less than Option A) retirement allowance, beneficiary receives lump sum payment of the balance of your annuity upon your death.
Option C - Reduced (7-15% less than Option A) retirement allowance. Upon your death, beneficiary receives monthly retirement allowance based on their age for the remainder of their lifetime.

By using this calculator, I understand that the Massachusetts State Employees' Retirement System is not bound by estimates given.
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Need to Know your Retirement Contribution

You can request a balance letter of your accumulated state retirement deposits and interest by calling 617-367-7770 or by sending a fax with your name, address and social security number to the State Retirement Board at 617-723-1438

Complete Pension Information

The complete Massachusetts Benefits Guide