As many of you have read and seen on the news, the state continues to grapple with unsustainable health care cost increases. The federal-state program, known as MassHealth, now costs more than $15 billion a year – nearly forty percent of the state budget. As a result, all state agencies, including the GIC, must trim their sails.
It is hereby determined that Michael Fitzmaurice was the only candidate to have submitted valid nomination papers for election to the MHFA Employees’ Retirement Board. Therefore, at the meeting of the MHFA Employees’ Retirement Board held on Tuesday, November 8, 2016, the Board voted to declare that Michael Fitzmaurice be considered elected to the MHFA Employees’ Retirement Board and that no election shall be held.
An election will be held on December 1, 2016 for the position of Elected Representative to the Massachusetts Housing Finance Agency Employees’ Retirement System. The term of the position will begin on December 11, 2016 and run through December 10, 2019. Michael Fitzmaurice currently is the incumbent.
Effective July 1st, the Massachusetts Housing Finance Agency Employees' Retirement System has granted a 3% cost of living increase (COLA) to qualifying retirees and beneficiaries on the base maximum of $13,000 of benefits. Retirees receiving an annual benefit of $13,000 or more will receive a monthly increase of $32.50.
On June 1, 2016 in an effort to better serve our members, we have developed a Member Information Portal. Our members will be able to run an estimated calculation of your retirement allowance and also review your beneficiary selection, salary history, contact information, and forward any changes or corrections to us electronically.