Commonwealth of Massachusetts Employee Benefit: Retirement Plan | Glassdoor

Commonwealth of Massachusetts Retirement Plan

60 employees reported this benefit

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Available to US-based employees (Change location)

Employee Comments

Showing 1–6 of 6
  • Apr 05, 2017
    StarStarStarStarStar Current Employee in Boston, Massachusetts

    10% contribution but decent benefits.

  • Mar 12, 2016
    StarStarStarStarStar Former Employee in Boston, Massachusetts

    The MA Retirement Board does an excellent job investing and managing retirement funds. One of the best benefits the state has to offer.

  • Jan 18, 2016
    StarStarStarStarStar Former Civil Engineer III in Boston, Massachusetts

    Best is that there is a retirement plan and pension system. Worst is that there is no contribution to social security and that workers who work in both systems are subject to a federal social security "windfall reduction" if receiving a state pension. This does not affect very long term employees as much as employees who move between the state civil service and other employment in the private sector or federal government or most other states. Apparently the US Congress was upset that some states did not move voluntarily to social security for their civil servants and could only target the employees but not the states. The Massachusetts unions (and those from other states with this situation) are trying to change the legislation but have not yet succeeded.

  • Nov 08, 2015
    StarStarStarStarStar Current Ustated in Boston, Massachusetts

    The retirement plan is pretty bad. Employees must work a really long time to qualify for even middling benefits. Upon retirement, the COLA raises are only on the first $13K of your pay. On average, employees pay 70% of their own retirement benefits. Most are in the $27K range annually.

  • Sep 09, 2015
    StarStarStarStarStar Current Employee in Boston, Massachusetts

    Nice to have defined pension but you have to work 10 years to vest.

  • May 26, 2015
    StarStarStarStarStar Former Correctional Officer III in Walpole, Massachusetts

    A good plan however is subject to change.

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