Franklin Regional Retirement Board Supplemental Regulations

MEMBERSHIP:


CREDITABLE SERVICE:

Weekly hours worked are:              Creditable Service
not less than   not greater than       percentage given

20          22.99                50%

23          25.99                60%

26          28.99                70%

29          31.99                80%

32          34.99                90%

35          40                  100%

Weekly hours worked are:              Creditable Service
not less than   not greater than       percentage given

0           4.99                10%

5           9.99                20%

10          14.99               35%

15          19.99               45%

Any individual who is already a member prior to January 1, 2009, and on January 1, 2009 is an “active” member, shall receive full creditable service regardless of the number of hours worked, for any and all positions they continue working in as of January 1, 2009, except that members working occasionally and sporadically with no clear pattern of a regular work schedule will be given creditable service equal to the actual time worked. Additional positions started on or after January 1, 2009 will receive prorated creditable service as per the above table(s).

Any individual who is an “inactive” member as of January 1, 2009 shall, for time worked prior to January 1, 2009, receive Creditable service consistent with the board regulations in effect prior to January 1, 2009.  When returning to “active” membership for prior positions, or for additional positions, started on or after January 1, 2009, they will receive prorated creditable service as per the above table(s).  Any return to “active” membership for prior positions shall be consistent with board policy, as of January 1, 2009, regarding membership.

In the application of this regulation, membership and positions allowed will be consistent with board policy regarding membership.

In the case of School Department employees whose full-time employment requires them to work from on or about September1st to on or about June 30th, including but not limited to cafeteria workers, clerical and secretarial staff, teacher’s assistants and teaching professionals, such as therapists, said employees shall receive one month of creditable service for each full month the employee is receiving regular compensation, with ten (10) months being the equivalent of one (1) year of creditable service, based on the following conversion: the number of months worked in a ten month year is multiplied by 1.2 to yield the twelve month equivalent and the creditable service to be given. This conversion will apply in partial years worked as well, whether due to lay-off, resignation, transfer or retirement.

 


REGULAR COMPENSATION:


MISCELLANEOUS: