GREENFIELD, M.A. (Franklin County Now) — Retirement planning can feel confusing even on the best day — and for teachers, the alphabet soup of pension rules, benefit formulas, and so-called “retirement help” online can make things even murkier. In this episode of Financial Fitness with The Money Doctor, Dr. Frances Rahaim cuts through all of that with a clear, high-road look at the Massachusetts Teachers’ Retirement System (MTRS): what it truly offers, what it doesn’t, and how educators can keep themselves safe when seeking guidance.
Dr. Rahaim breaks down why MTRS is a defined-benefit plan — not an investment account — and why that distinction matters for your financial future. She also walks through what the law prohibits MTRS from doing, including selling or endorsing financial products. That clarity matters, especially when “look-alike” teacher retirement websites and solicitations can easily lead even savvy educators into advice they never asked for.
Most importantly, she offers practical, judgment-free questions to help you evaluate any advisor before making a change. And while this episode focuses on Massachusetts, the core principles apply to public school teachers nationwide.
If you’ve ever wondered whether you’re getting the straight story about your pension, this conversation will help you breathe easier — and make smarter, safer decisions.