Melrose Retirement Board Supplemental Regulations

Date Service Regulations
May 10, 2011

Creditable Service Purchase - Installment Policy

Members of the Melrose Retirement Board (sic) will be allowed to purchase up to four years of military service, creditable service for certain periods of non-membership employment (service) for a MA governmental unit in which deductions were NOT taken, and creditable service for previous service with a MA governmenta1 unit in which they received a refund of contributions consistent with the provisions of MA General Law Chapter 32 and PERAC 840 CMR Regulation 15.02.

It the policy of the Melrose Retirement Board to require that any request to purchase applicable creditable service will be paid in either 1 lump sum payment in full OR based on a signed, written (weekly or monthly) installment payment plan submitted by the Member, subject to Board approval, that will pay the necessary amount, including interest, within a maximum 12 month or 52 week period. The Member shall make the payments on a weekly or monthly basis to the Melrose Retirement Board. A Member who sustains or endures a hardship may petition the Board for a period of payment in excess of 12 months or 52 weeks.

If a Member becomes inactive or a non- member (resign, termination, sick etc...) during the installment payment period without making the final payment(s), the creditable service granted will be prorated based on the payments received and the creditable service being purchased. No refunds are allowed after purchasing this creditable service except by a refund of ALL accumulated deductions.

The purchased service time will only be 100% credited upon successful receipt of all installments.

Members may NOT purchase any entire military, buyback, or make-up of creditable service or a portion(s) of creditable service with more than ONE 12 month written (weekly or monthly) installment payment plan.

March 28, 2011 Non-Member Creditable Service Purchase Policy

Members of the Melrose Retirement Board will be allowed to purchase creditable service for periods of non-membership employment (service) for a governmental unit in which deductions were NOT taken, consistent with the provisions of MA General Law Chapter 32 and PERAC 840 CMR Regulation 15.02.

For full time Non-Member service, the employee will receive 12 months of creditable service for each year of service purchased.

For part time Non-Member service, it is the policy of the Melrose Retirement Board to calculate the purchased part time creditable service using actual hours worked on a proportional basis of a 40 hour work week, consistent with the Creditable Service and Membership Supplemental Regulations.

November 15, 1985

Creditable Service

Part time employees credit will be granted depending on the work history of the employee.  Two categories of employment are considered as follows:

A. Employees in this category will have worked on a less than full time basis throughout their years of service.  For this category of employee, credit will be granted on the basis of one year of credit for each year of service.  The pension thus computed will be on an equitable basis as a full time employee.  The deciding factor in the computation of the pension will be the three-year average earnings.

B. Employees in this category will have worked on both a full time and part time capacity during their years of service.  In this category, credit for service will be computed on an individual basis.  For the full time service, the employee will receive one year of credit for each year of service.  For the part time service, the employee will receive one year of credit for 2 years of part time service.  An alternative computation of creditable service will be made by using actual hours worked.  This computation will be made using a ratio the dividend of which will represent the hours to be worked.  The percentage thus computed will be that portion of a year’s credit for the part time work.  Any interpretation of this paragraph shall be done on an individual basis by the Board.

July 1, 1985

Membership

Employees working less than 20 hours per week are ineligible for membership.

Permanent employees working for at least 20 hours per week and less than 35 shall be granted creditable service prated on the basis of a 40- hour week.  If employed for at least 20 hours per week, and if this comprises the full time prescribed for the position, said part time employees shall be credited with 12 months membership service (i.e., Traffic Supervisors and School Lunch Employees).

All regular permanent employees who work at least 35 or more hours per week shall be granted creditable service of 12 months for each year of employment.