Mass. Teachers’ Ret. Sys. v. Contributory Ret. Appeal Bd.

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James Walsh, an electrician, became a member of the Massachusetts Teachers' Retirement System (MTRS) when he began teaching at a vocational school. Before the effective date of his retirement in 2006, Defendant applied to MTRS to increase his anticipated retirement allowance by adding to his creditable service through the buyback of three years of creditable service based on his work experience as an electrician. MTRS assessed buyback interest to commence as of 1977, the beginning of the three-year period for which Walsh sought trade service credit. Walsh appealed, claiming that buyback interest should not have begun to accrue until 1987, when he became a member of the MTRS. The Contributory Retirement Appeal Board (CRAB) reversed, holding (1) the regulation promulgated by MTRS was a valid exercise of MTRS's statutory authority; and (2) CRAB's failure to assess interest in accordance with 807 Mass. Code Regs. 14.05 was an error of law. View "Mass. Teachers' Ret. Sys. v. Contributory Ret. Appeal Bd." on Justia Law