Lexington Retirement Board Supplemental Regulations

Subject:

Regulation:

MEMBERSHIP:

 

CREDITABLE SERVICE:

Members of the Lexington Retirement System shall receive creditable service, in whole month increments, consistent with this regulation in the following manner:

  • For a member in service who is employed in a full-time capacity, he/she will receive one (1) month of creditable service for each full month for which the employee receives regular compensation and remits the appropriate contributions to the Lexington Retirement System, with said service not to exceed one (1) year of creditable service in any calendar year.

  • For a member in service who is employed in a part-time capacity throughout his/her entire career, he/she will receive one (1) month of creditable service for each full month for which the employee receives regular compensation and remits the appropriate contributions to the Lexington Retirement System, with said service not to exceed one (1) year of creditable service in any calendar year.

  • For a member who has rendered membership service in the Lexington Retirement System in both a full-time and part-time capacity, the member shall receive full credit for all full-time service and prorated credit for part-time service based on the full-time equivalency of 35hours per week.

  • For a member who is employed in a part-time capacity throughout his/her career but who either purchases past refunded service, or has transferred into the Lexington Retirement System previous service rendered in a full-time capacity, the member’s part-time service shall be prorated based on the full-time equivalency of 35 hours per week.

  • In the case of School Department employees whose full-time employment requires them to work from on or about September 1st to on or about June including but not limited to cafeteria workers, clerical and secretarial staff, teacher’s assistant 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 twelve (12) months of creditable service. School Department employees who are employed in a part-time capacity shall have their creditable service prorated in the same manner as all members of the Lexington Retirement System as set forth in this regulation.

  • The Board recognizes that certain School Department employees, including but not limited to custodians and secretaries, are required to work the entire calendar year, and in such a situation, said employee’s creditable service will be calculated based on a twelve (12) month year.

  • Any member purchasing past service rendered shall have said service prorated based on 35 hours per week being considered a full month of service. Members who previously rendered non-membership service will be eligible to purchase such past service rendered, in monthly increments, consistent with the provisions of M.G.L. c. 32, § 4(2)(b) and the Board’s regulation regarding the calculation of creditable service, i.e. that 35hours will be considered a full week of creditable service

REGULAR COMPENSATION:

 

MISCELLANEOUS: