OUTLOOKFocusing on Retirement Issues for Massport Employees Past and Present

September 2015

More inside . . .• page 2: SMART Plan/Beneficiary Info Request• page 3: 2014 CAFR/Annual Affidavits• page 4: COLA Increase/Transitions/Remarriage Penalty Repeal • page 5 Jim Costello Retirement• page 6: Tech Watch/Calendar

Find us online! Simply go to http://retirement.massport.com.

IMPORTANT NOTICE Beginning in November 2015, Notices of Deposit will no longer be mailed to retirees and survivors each month. Notices of Deposit will only be mailed in January and July.

Retiree Self Service is here!

The MPAERS is happy to announce that a self-service tool is now available for

retirees*. Log on to review your pension payment history, beneficiary, 1099R,

and contact information. You may also download a form to change your

address. To access member self-service, go to http://retirement.massport.com,

select “Massport’s Pension Plan” from the menu bar on the left side and then click on

the “Member Self-Service” link. Online registration is quick and easy. Simply click on

the “Self Registration” button then enter the requested information on the subsequent

screens to set up your access. Be sure to bookmark this website for easier access.

Demonstrations and/or assistance with registration will be available during our

annual affidavit Notary office hours (see page 3). If you are unable to attend any of

these sessions and need assistance, please contact Laura Barbosa at (617) 568-3903 or

lbarbosa@massport.com.

*Self-service is not yet available for active or inactive members. Stay tuned. We’ll notify you as soon as the conversion process is complete and access is available.

FOR YOUR BENEFIT

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Important Reminder: Beneficiary Information RequestAs you know, we are in the process of updating member beneficiary

information as part of a recent software conversion.

We sent out notices to all active and inactive members in October

2014 and again in May 2015 along with member statements requesting

additional information with regard to your beneficiaries be provided to

us. We thank those of you who responded! To those who have not yet

submitted your form, please do so as soon as possible. It is important that

the information in your retirement file and on our database is accurate

and up-to-date.

If you have misplaced your form, have questions, or would like to

change your existing beneficiary or beneficiaries, please contact Lynn

Fullerton at (617) 568-3951 or lfullerton@massport.com.

New SMART Plan RepresentativePlease join us in welcoming Rich Carty, Massport’s new Deferred Compensation SMART Plan representative! Rich, a Retirement Plan Counselor, has worked with the SMART Plan for the past 2 years. He is a graduate of the University of New Hampshire and previously worked in the Insurance and Home Mortgage industries. Rich finds the most rewarding part of his current position is the variety of counseling services that he provides to participants to assist them in developing strategies to provide adequate income in retirement. Outside of work, Rich thoroughly enjoys travelling and being outside year round, whether it is skiing or golfing.

Rich schedules office hours at the Logan Office Center twice a month. Specific times and dates are posted on Massport’s portal. To make an appointment please call Rich at (857) 939-6185 or send an email to Rich.Carty@empower-retirement.com.

Did you know that Massport will match your SMART Plan contributions up to

$3,000 per year? Massport first introduced this deferred compensation match

back in 2007 and has offered it to active employees ever since. If you aren’t currently

enrolled in the SMART Plan, we strongly encourage you to sign up! It’s a great way to

boost your retirement savings and with a contribution of just $58 per week* you are

eligible for the full $3,000 match. In addition, because your SMART Plan contribution

is pre-tax, your paycheck

doesn’t get reduced by

the full amount of the

contribution because you

are taxed on less.

Contact SMART

Plan representative Rich

Carty at (857) 939-6185

or rich.carty@empower-

retirement.com to sign up

or change your current

contribution. Rich can

also help you determine

how much to contribute

in order to maximize this

benefit according to your

personal circumstances.

*Assumes fifty two weeks of

participation per year.

Massport’s Deferred Compensation Match Program

Peer Pressure If you are not currently enrolled in the SMART Plan, you are definitely in the minority. Massport has one of the best SMART Plan participation rates in the state. As of July, 88% of our members were enrolled in the plan. We attribute this success to the continuous outreach efforts employed by both the retirement staff and colleagues from Empower-Retirement (formerly Great West) in getting the word out to employees. We also believe these statistics are a clear indication that our members understand and recognize the importance of saving for retirement.

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RETIREES’ CORNER

We mailed our 2014 Comprehensive Annual Financial Report

(CAFR) to all members, active, inactive, and retired in June. This

report contains our financial statements, plan investment and

statistical information as well as a report from our actuary and a

frequently asked questions section.

We have submitted this report to the Government Finance

Officers Association’s (GFOA) Certificate of Achievement for

Excellence in Financial Reporting program, a recognition we have

earned for the past 15 years.

Annual Report Mailed to Members

Annual AffidavitsRetirees and Survivors: As you know, each year you are required to file an annual

affidavit with the Massport Retirement Board. Affidavits were mailed on September

25th and are due back by October 30th. For your convenience, our resident Notary,

Laura Barbosa, will be available to notarize your affidavit free of charge during certain

time periods as shown in schedule below. No appointment is necessary. We look

forward to seeing you!

Affidavit and Retiree Self-Service Schedule

Wednesday, September 30th 1 pm – 4 pm

Friday, October 2nd 10 am – 1 pm

Tuesday, October 6th 10 am – 1 pm

Thursday, October 8th 1 pm – 4 pm

Tuesday, October 13th 1 pm – 4 pm

Friday, October 16th 10 am – 1 pm

Monday, October 19th 1 pm – 4 pm

Wednesday, October 21st 10 am – 1 pm

Tuesday, October 27th 10 am – 1 pm

Thursday, October 29th 1 pm – 4 pm

The Retirement Board is required to withhold the retirement allowance of any person who fails to file their annual affidavit.

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We regret to inform you that the following retirees have passed away:

❦ Harold Blake❦ Leo Buckley❦ Lillian DiDio❦ James Donegan❦ Carol Gould❦ James F. Harris❦ Cathy Leonard-McLean

CONGRATULATIONS

The following people retired recently and we wish them all the best for a successful future:

★ Colleen Bessom★ Tony Bongarzone★ Paul Breen★ Brett Burguard★ Gayle Callis★ Lenny Christopher★ Joe Cimmaruta★ Steve Cwalina★ Joe Dalton★ Donna DiLeone★ Tom Ennis★ Linda Ferraro★ Joe Ferruzzi★ Jim Flaherty★ Ted Frier★ John Krajovic★ Maureen Magaldi★ Ernest Marzano★ Betsy Mathews★ Terry Maylor★ Mike Modica★ Dennis Screnci★ Jane Shang★ Betsy Taylor★ Alan Wade

TRANSITIONS

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Retirees Receive Annual Increase

Massport retirees were recently awarded a pension

increase adjustment of 3% on a base of $13,000. This represents an increase of

up to $32.50 a month and was effective as of July 1, 2015 payable to individuals

who retired prior to July 1, 2014. We understand how important the pension

increase adjustment is for our retired members and survivors, many of whom are

living on a fixed income. The board is pleased to grant this 2015 pension increase

adjustment to its retirees and survivors.

Survivor Remarriage Penalty Repealed(For survivors who remarried prior to 7/1/2000)

f you receive a monthly survivor benefit from the Massport

Employees’ Retirement System and your benefit was

reduced or eliminated because you

remarried prior to July 1, 2000, you

may be eligible to have those benefits

restored due to a recent court

decision.

Under previous law when the

spouse of a deceased member chose to

remarry, his or her pension would be

reduced or eliminated. While

this law was repealed back in

2000 (Chapter 159 of the Acts of 2000), only survivors who remarried after the law

went into effect did not have their benefits reduced.

This interpretation was challenged and in 2014, the Superior Court determined

that the repeal of the remarriage penalty extended to survivors who remarried prior

to July 1, 2000 and that benefits to surviving spouses could resume upon proper

reapplication, going forward.

If you are a survivor and have questions as to whether this might apply to you,

please contact the retirement office at (617) 568-3951.

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James P. Costello Retirement Event

On February 5, 2015, the Retirement System and Massport hosted a retirement reception in honor of James P. Costello, former Chairman and Appointed

Member of the Massport Employees’ Retirement Board. Jim previously served for more than 36 years as the Board’s Chairman. Prior to his appointment to the Retirement Board, Jim also held the labor seat on the Massport Board of Directors. Jim is currently retired from the Joint Labor Management Committee and serves as a member of the Town of Hingham Retirement Board. We honor Jim for his many years of service to the Authority as well as his lifetime commitment to public service. Many of Jim’s former colleagues and friends were in attendance.

8.

9. 10.

11. 12.

1. 2.

3. 4.

5.

6. 7.

1. Senator Ken Donnelly

2. Irene Moran, Director of

Retirement, with Jim Costello

3. L-R: Jim Costello with wife,

Larnie, and Mike Donovan, Suffolk

County Superior Court Clerk

4. L-R: John Vitagliano, Fred

Salvucci, and Jim Costello

5. L-R: Betsy Taylor, John

Vitagliano, Fred Salvucci,

Jim Costello, Bob Weinberg, and

Tony Jackson

6. Ira Sills, Local 103 Counsel, and

Tony Jackson with Jim Costello

7. Retired Chief Administrative

Magistrate DALA and former Board

Counsel, Dick Heidlage

8. Front Row L-R: Nancy Bournival,

Laura Barbosa, Betsy Taylor, and

Lynn Fullerton. Back Row L-R:

John Pranckevicius, Jamie Hoyte,

Jim Costello, Phil Mallett, Irene

Moran, Scott Merrill, and Michael

Grieco

9. Jamie Hoyte, MPAERS

Chairman, with Jim Costello

10. Bob Weinberg, former

Massport Chairman

11. John Vitagliano, former

Massport Board Member

12. Tom Glynn, Massport’s

CEO/Executive Director, with

Jim Costello

CALENDAR

RETIREMENT BOARD & STAFF

September23 Yom Kippur begins

24 Retirement Board MeetingLogan Office CenterRetirement Board Room, 9:00 am

25 Retiree affidavits mailed

29 Retirement notices of deposit mailed

October9 Quarterly employer match to 457 plan

12 Columbus Day:Massport offices closed

22 Retirement Board MeetingLogan Office CenterRetirement Board Room, 9:00 am

29 Retirement notices of deposit mailed

30 Retiree affidavits due

31 Happy Halloween!

November1 Daylight Savings Time Ends: Set clocks back one hour

11 Veterans Day: Massport offices closed

20 Retirement Board MeetingLogan Office CenterRetirement Board Room, 9:00 am

26 Thanksgiving Day: Massport offices closed

December6 Hanukkah begins at sundown

14 Last day of Hanukkah

17 Retirement Board MeetingLogan Office CenterRetirement Board Room, 9:00 am

18 Quarterly employer match to 457 plan

22 Winter begins

25 Christmas Day: Massport offices closed

26 Kwanzaa begins

Outlook is published quarterly by the Massachusetts Port Authority Employees’ Retirement System (MPAERS) One Harborside Drive, Suite 200S, Boston, MA 02128, (617) 568-3951.

Managing Editors Laura S. BarbosaIrene E. Moran

Design Colvin/Williams Design

Retirement BoardJames S. Hoyte Chairmanjamie.hoyte@gmail.com

Michael A. Grieco Vice Chairman

Philip H. Mallett Elected Member (pmallett@comcast.net)

John P. PranckeviciusTreasurer-Custodian (ex officio)

Betsy Taylor Elected Member (betsytaylor31@gmail.com)

Retirement Office StaffIrene E. Moran Director of Retirement (imoran@massport.com)

Laura S. Barbosa Retirement Member Services Specialist (lbarbosa@massport.com)

Nancy Bournival MPAERS Controller (nbournival@massport.com)

Lynn Fullerton Retirement Board Coordinator (lfullerton@massport.com)

MedCoach – Medication tracking at your fingertips Keeping track of your daily medications and vitamins doesn’t

have to be a chore. With the MedCoach app for your

Smartphone, iPhone, or iPad you can put away that old plastic

pill box and let it do the organizing for you. This app tells you

when and what meds you are supposed to take and has other

nice features which include doctor, pharmacy and prescription

refill information. MedCoach is a free app.

To get started, download and install MedCoach from the

app store on your device. Once you register, tap on Medications

and begin building your medication and vitamin list. Select your

medication from the list* then select the proper dosage and tap

ok and then you’ll be able to set up medication reminders and

refill, pharmacy, and doctor information. Pharmacy and doctors

information can be imported from your device’s address book, if available, or manually typed in.

With this information, MedCoach also allows you to connect to your pharmacy for prescription

refills by either tapping on the phone number or website. MedCoach provides quick, easy, and

immediate access to your medications and vitamins right in the palm of your hand.

*If your medication doesn’t appear when you start typing, try typing the name using all

lowercase letters.

For those of you who have access to the Internet, there is a wealth of information to be found there. In this section we highlight web sites and SmartPhone apps that we have found helpful, informative, interesting or just plain fun.

TECH WATCH

View past issues of Outlook at http://retirement.massport.com