Taunton Retirement

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Taunton is one of 106 public employee contributory retirement systems in Massachusetts. The retirement plan serves over 1,400 city employees (excluding teachers) and over 750 retirees & survivors and is managed by a local retirement board consisting of five trustees.

The Taunton Retirement Board is responsible for maintaining approx. $150 million is pension assets for the City of Taunton's retirement system in compliance with Mass. General Laws Chapter 32. The Board's mission is to provide retirement benefits to plan participants and to safeguard the assets of the system. The retirement board is charged with the responsibility of prudently investing the pension assets to maximize the investment returns with the goal of becoming a fully funded system. The plan is a public employee contributory defined benefit plan first established in 1937.

Latest Taunton Retirement News

July 1, 2012 Cost-of-living Adjustment Approved

Monday, 30 April 2012 15:10

The City of Taunton’s retirees and survivors will receive a 3% COLA effective July 1, 2012. The 3% COLA is calculated up to the first $14,000 of a member’s allowance. Therefore, the maximum benefit that can be received is $35.00 per month. Only retirees/survivors who retired on or before June 30, 2011 are eligible. The 3% rate is the maximum percentage allowed by law despite the Social Security COLA that was set at 3.6%. At its monthly meeting on April 27, 2012, board member Peter H. Corr motioned to approve the COLA and board member Richard T. Avila seconded the motion. The vote was unanimous by the remaining board members. The Board is pleased to provide this COLA to assist retirees and survivors who have been facing ever-increasing costs to food, energy, and health insurance premiums.

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