Why plan?

There are many reasons to protect yourself and plan for the future as a MA public employee, even though the retirement benefits can offer a high level of income replacement. I will list a few of the gaps and pitfalls of the pension system:
  1. For most of your career, there is very little protection for you in case you become disabled.

  2.  Your survivor benefits are limited to a few choices and it is easy to make a mistake.

  3. Your retirement allowance has limited protections against inflation.

  4. You may not have a Social Security benefit at all, or you may get a diminished one.

  5. The decisions you make about your retirement are irrevocable once you begin your retirement.

Being a public employee in the Commonwealth of Massachusetts affords many positive features. Employment is relatively steady, and nearly 60% of jobs are covered by a union. The pension system rewards long-term employees whose final 3 years of pay are their highest; retirement payments last for life and can be substantial. Access and subsidization of health insurance continues to be a favorable policy.

There are negative aspects of public employment as well, and many are experienced by those who are not aware of the issues they will face or have not prepared for them. This is why we are here. We will undertake a review of your public benefits and how they affect not just your current financial situation but also your future. We have done this for a great many public employees and can do it for you as well. CONTACT us today for a free meeting.

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