Pretrained models are a mainstay in modern NLP applications. Pretraining requires access to large volumes of unlabeled text. While monolingual text is readily available for many of the world’s languages, access to large quantities of code-switched text (i.e., text with tokens of multiple languages interspersed within a sentence) is much more scarce. Given this resource constraint, the question of how pretraining using limited amounts of code-switched text could be altered to improve performance for code-switched NLP becomes important to tackle. In this paper, we explore different masked language modeling (MLM) pretraining techniques for code-switched text that are cognizant of language boundaries prior to masking. The language identity of the tokens can either come from human annotators, trained language classifiers, or simple relative frequency-based estimates. We also present an MLM variant by introducing a residual connection from an earlier layer in the pretrained model that uniformly boosts performance on downstream tasks. Experiments on two downstream tasks, Question Answering (QA) and Sentiment Analysis (SA), involving four code-switched language pairs (Hindi-English, Spanish-English, Tamil-English, Malayalam-English) yield relative improvements of up to 5.8 and 2.7 F1 scores on QA (Hindi-English) and SA (Tamil-English), respectively, compared to standard pretraining techniques. To understand our task improvements better, we use a series of probes to study what additional information is encoded by our pretraining techniques and also introduce an auxiliary loss function that explicitly models language identification to further aid the residual MLM variants.