Newton Retirement Board Supplemental Regulations

Subject:

Regulation:

MEMBERSHIP:

 

 

April 8, 2010: Employees of any member unit of the Newton Retirement System who are regularly employed a minimum of 20 hours per week and earn a minimum of $5,000 per year must become members of the system.

April 8, 2010: Employees who are provisional, seasonal, temporary or intermittent and are regularly employed a minimum of 20 hours per week for a period of six consecutive months and earn a minimum of $5,000 per year must become members of the system at the conclusion of the six-month period.

April 8, 2010: Employees working fewer than 20 hours per week are not eligible for membership.

April 8, 2010: Employees earning less than $5,000 per year are not eligible for membership.

April 4, 2001:  CETA employment: Only City of Newton employees and members of the Newton Retirement System are eligible to buy back creditable service for Newton CETA employment.

December 14, 1984:  Regularly employed part-time employees with 20 hours or more must join the retirement system.

December 14, 1984:  Buy-Backs: Back payments must be paid in $200 installments or more.

CREDITABLE SERVICE:

April 8, 2010: A member whose entire membership service is in a full-time position shall receive one year of creditable service for each year worked provided the member works the number of hours required by the position held.

April 8, 2010: A member shall be considered part-time if he regularly works fewer than the number of hours required by the position held and regularly works at least 20 hours per week.

April 8, 2010: A member whose entire membership service is part-time shall receive one year of creditable service for each year worked provided that the hours of part-time service have not fluctuated during his membership service.

April 8, 2010: A member whose membership service fluctuates between part-time and full-time shall be granted creditable service equal to 12 months for each year of full-time employment and a pro-rated period of years or fractions thereof equal to the percentage that his part-time hours worked bears to his full-time hours worked, multiplied by the number of part-time years of membership.

April 8, 2010: A member whose membership service consists of fluctuating part-time hours shall have his creditable service pro-rated as it bears to the average hours worked during the three highest consecutive years with the greatest number of hours worked.

April 8, 2010: A member whose membership service has fluctuated between part-time and full-time and whose full-time service is 15 months or less shall have his creditable service computed as though his entire membership was part-time.

April 8, 2010: APPLICABILITY: This regulation shall apply to creditable service calculated for member buybacks, membership transfers to other Massachusetts public sector retirement systems and retirement benefit calculations for members of the Newton Retirement System who retire on or after the effective date of this regulation.

REGULAR COMPENSATION:

 

MISCELLANEOUS:

April 16, 2014
Correction of Errors under G.L. c. 32, 20(5)(c)(2)

In all cases of correction of an error by the Newton Retirement Board of an underpayment or non-payment of a pension or benefit to a member or beneficiary of the Newton Retirement System which results in a onetime retroactive payment of benefits, such payment shall include interest for such period of underpayment or non-payment at the rate annually determined for such period by the Public Employee Retirement Administration Commission pursuant to G.L. c. 32, § 22(6).

In all cases of a correction of an error by the Newton Retirement Board of an overpayment of a pension or benefit to a member or beneficiary of the Newton Retirement System, the amount of overpayment shall be due from the member or beneficiary, along with interest for said period of overpayment at the rate annually determined by Public Employee Retirement Administration Commission pursuant to G.L. c. 32, §22(6).

Pursuant to the judgment in Herrick v. Essex Regional Retirement Board, 465 Mass. 801 (2013) and PERAC Memorandum #32, 2013, said interest shall be deemed to be the actuarial equivalent of the adjustment to the pension or benefit as set forth in G.L. c. 32, § 20(5)(c)(2). 

December 14, 1984 Accidental Disability Applications: Accidental disability applicants must be present when their application is presented to the board, unless a medical reason exists that prevents.