There are two types of retirement plans for employees at Massport. Employees working more than 21 hours a week are automatically enrolled in the defined benefit pension plan. The 457(b) deferred compensation SMART plan is an optional investment plan for retirement savings to supplement the pension.
Defined Benefit Pension Plan
Massport’s defined benefit pension plan provides eligible employees with a lifetime retirement allowance.
457(b) Deferred Compensation SMART Plan
This is an optional investment plan for Massport employees, administered by Empower.
View frequently asked questions about Massport’s Retirement Program
Massachusetts Port Authority Employees’ Retirement System
The Massachusetts Port Authority Employees’ Retirement System (MPAERS) was established on July 18, 1978, effective January 1, 1979 by enactment of Chapter 487 of the Massachusetts General Laws, to provide Massport employees and their beneficiaries with secure retirement, survivor, and disability benefits. MPAERS is one of 104 state and municipal systems in Massachusetts bound by Chapter 32 of the Massachusetts General Laws, which establishes benefits, contribution requirements, and an accounting and funds structure for all systems.
MPAERS is administered by a five-member board consisting of one ex-officio member, two elected members, one member appointed by Massport, and one member appointed by the four other board members. The board, while operating independently, is regulated by the Public Employee Retirement Administration Commission.
MPAERS Board Meetings
View the meeting schedule, meeting minutes, and board committee meetings.
MPAERS Board and Staff
The board and staff are responsible for administering the plan to nearly 2,200 active, inactive, and retired members and their beneficiaries.