April 1, 2010: Any individual who is employed eighteen and three quarters (18 3/4) or more hours per week as a regular full or part time employee as defined by the Massachusetts Housing Finance Agency’s Human Resources Manual shall become a member of the Massachusetts Housing Finance Agency Employees’ Retirement System (“System”) at the time of hire upon completion and acceptance of an enrollment form by the System. Upon becoming a member of the System, a member will maintain his/her status of being a member in service and continue contributing to the System and accruing additional creditable service, consistent with the Board’s creditable service regulation even if his/her work hours fall below the minimum requirement of 18¾ hours per week.
April 1, 2010: Members of the Massachusetts Housing Finance Agency Employees’ Retirement System (“System”) shall receive creditable service, in whole month increments, consistent with this regulation in the following manner:
Full Time Member:
Member Works in Both a Full Time and Part-Time Capacity:
Member Buying Back Prior Service:
The effective date of this Regulation is April 1, 2010. It is important to note that all prior service rendered and/or purchased prior to the enactment of this Regulation will be credited as full-time.