Hull Retirement Board Supplemental Regulations

BUYBACKS AND SERVICE PURCHASES (NON-MILITARY):


MEMBERSHIP:


CREDITABLE SERVICE:


REGULAR COMPENSATION:

Non-member — any person hired to work part-time, provisional, temporary, and temporary provisional, seasonal or intermittent employment as described in the Hull Contributory Retirement System’s Supplementary Regulations for Membership as approved by PERAC on January 3, 2007

Non-member Make-up — any member requesting to purchase non-member service (as described above) with the Town of Hull or another city, town, or municipality.

1. When purchasing non-member service, if payroll records cannot be obtained, then the applicant shall supply a W-2. An attempt should be made to acquire the Wage and Salary form from the Human Resource Department. The Retirement Administrator will assess the hourly wage, divided by the W-2 and determine if the hours worked qualified for purchasing service credit. If eligibility for membership cannot be determined, no credit will be granted.

2. No make-ups will be granted for part-time, provisional, temporary, temporary provisional, seasonal or intermittent employment for the time in which the employee was not eligible for membership in the retirement system unless said employee becomes a member in the Hull Contributory Retirement System.

3. Any member requesting a non-member make-up must be an active member of the Hull Retirement System. No inactive member shall be allowed to make a non- member make-up for service credit.

4. Calculations for non-member make-ups for eligible membership employment shall be based on the number of hours of the position for which the persons is currently employed. For administrative, clerical employees 35 hours per week (or 1820 hours yearly); 40 hours per week (or 2080 hours yearly) for custodians, laborers, police and fire chiefs and captains, arid hourly rated employees; 37.5 hours per week (or 1950 hours yearly) for non union and union police officers; and 42 hours per week (or 2184 hours yearly) for uniformed members of the fire department.

5. Any member who voluntarily resigns from a qualified membership position, which did not withdrawn their funds, returns to an ineligible position, shall remain in the retirement system, however said creditable service will be pro-rated and calculated as above based on the eligible position from which they resigned.

6. All non-member make-ups shall be paid in full by date determined by the retirement administrator to avoid any added interest. Payments not made in full will be subject to added interest at 1/2 of the current actuarial assumed rate if interest.

7. Any member making bi-weekly installments will be subject to a five (5) year repayment scheduled inclusive of added interest at the end of each calendar year.

8. Should a member choose to make non-payroll deducted installment payments interest will be applied annually on any un-paid balance at ½ the current actuarial assumed rate of interest. Payback shall be completed within five (5) years.

9. In cases of hardship, the Retirement Board, upon request by the member, shall have the right to grant a member special terms.

10. Any request for non-member make-up from another city, town, or municipality will be forwarded to the proper retirement board of said city, town, or municipality and liability from that board will be requested. If said retirement board does not grant service credit the Hull Retirement Board will grant service credit as described in section 5.

11. Non-member service make-ups will not be granted if service credit is not equivalent to at least 3 months of creditable service, unless special circumstances occur.

12. The Retirement Board has the right to deny any request for non-member make-up payments.


MISCELLANEOUS: