Subject:

Regulation:

MEMBERSHIP:

CREDITABLE SERVICE:

April 18, 2003 Military Buybacks The Malden Retirement Board, consistent with the provisions of G.L. c. 32, § 4(1)(h), as amended, requires that any member who is a veteran as defined in G.L. c. 32, § 1 must apply to purchase his past service rendered in the armed forces of the United States within one hundred and eighty (180) days of being notified of eligibility to purchase such service.  Once a member has made application to purchase his past veteran’s service the member may purchase said service in a lump-sum at any time prior to the effective date of his retirement.

October 17, 1989 Buy-Backs Employees paid for services from Federal Community Development Grants and members of the retirement system seeking to buy back service credit paid from Community Development Grants shall not receive approval for creditable service for this service until funding for said service is received from Community Development funds received by the City. This action was taken in accordance with the provisions of chapter 661 of the acts of 1983, section 24.

November 25, 1987 Buy-Backs Part time employees hired after January 1, 1988 not allowed prior service credit for periods of less than twenty hours per calendar week.

REGULAR COMPENSATION:

MISCELLANEOUS:

January 11, 1985 Various Approval of rules on the following subjects: Name; board; staff; staff salaries; staff benefits; staff hiring; chairman of board; board policy; ex-officio member; executive
secretary; meetings; investments; investment counselor; membership; superannuation retirement; ordinary disability; accidental disability; refunds; vouchers; safe deposit vault; disbursement of funds; two applications; organization of staff