Code of Massachusetts Regulations 941 CMR - STATE BOARD OF RETIREMENT
Here’s an updated overview of 941 CMR – State Board of Retirement (Massachusetts State Retirement Board), which governs administration and benefits within the Commonwealth’s contributory retirement system:
📘 What Is 941 CMR?
941 CMR is the regulatory framework established under M.G.L. c. 32 detailing how the Massachusetts State Employees’ Retirement System (MSERS) is governed by the State Board of Retirement (SBR). Key elements include administrative procedures, member rights, benefit calculations, and post-tax compliance
1. 941 CMR 2.00 – Administrative Regulations
Covers SBR administrative duties, such as eligibility, application of statutes, and procedural rules for retirement benefits. For example:
§ 2.09 – Contract Service as Creditable Service: Defines whether contract (non‑employee) service may be purchased for credit—and under what conditions (e.g., must immediately precede membership, max of 4 years purchasable)
§ 2.10 – Dereliction of Duty Procedures: Outlines processes for SBR handling disciplinary cases where members may forfeit retirement benefits due to misconduct
2. 941 CMR 3.00 – Rollover Distributions & Purchase of Creditable Service
Guides how members can roll over retirement funds and buy back eligible service credit (e.g., leaves of absence, military service, or other eligible periods)(mass.gov). It aligns with federal IRC rules to avoid unintended tax consequences.
3. 941 CMR 4.00 – Qualified Excess Benefit Arrangement
Establishes a Section 415(m) Excess Benefit Plan/Trust that ensures members receive full retirement benefits even if IRS limits under § 415(b) would otherwise cap them. Benefits are funded via appropriations as required(law.cornell.edu).
🔍 Why This Matters
| Topic | What It Covers |
|---|---|
| Creditable Service | Clarifies eligibility and limits for purchasing non-employee service credit, which can significantly affect pension calculations (law.cornell.edu). |
| Benefit Forfeiture | Defines due-process rights when SBR considers revoking retirement benefits for employee misconduct or dereliction of duty . |
| Tax Compliance | Ensures rollover and buyback procedures align with IRS rules to maintain tax-qualified status . |
| Maximized Benefits | The excess benefit plan guarantees members receive full retirement pay despite IRS caps. |
📄 Accessing Full Texts
Official PDFs are available via the Trial Court Law Libraries:
941 CMR 2.00, 3.00, and 4.00 sections can be downloaded from mass.gov sites
For online browsing and comparison, legal databases like Casetext list each title
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