Northbridge Retirement Board Supplemental Regulations
- January 8, 2002:
An employee must be considered as a regular employee of the town to be eligible for membership in the retirement system. A regular employee of the town must have a regularly scheduled workweek of 28 hours or more per week with a commensurate salary. All regular employees must join the retirement system. All regular employees, except as noted below, who are scheduled to work less than twenty-six (26) calendar weeks or uninterrupted employment unless for required military service, authorized paid vacation, sick, personal leave or other authorized leaves of absence are not eligible for membership in the Northbridge Retirement System.
Any active or inactive member who becomes a part-time, provisional, temporary, temporary provisional, seasonal or intermittent employee shall continue to be a member of the Northbridge Retirement System.
- December 27, 1984:
An employee must be considered as a regular employee of the town to be eligible for membership in the retirement system.
A regular employee of the town must have a regularly scheduled workweek of 28 hours or more per weekly with a commensurate salary.
All regular employees must join the retirement system.
- January 1, 2010:
Credit for "part time or full time employees, either actively contributing, or in the computation to determine make-ups, shall be determined based upon the following, unless the person has retired or left the employ of the Town of Northbridge.”
Less than 2 weeks in any year--------------------No Credit
Two weeks to one month One--------------------Month Credit
One Month to Six Months--------------------------Month for Month
Seven Months and over-----------------------------One Year
One year of credit for seven months of service may only be granted if the work is determined by the retirement board to be seasonal in nature. One year of credit for ten months of service may be granted for School employees whose work schedule is the academic school year.
No credit shall be granted for any employment that is for less than 28 hours per week Purchases of credit is restricted to employment with the Town of Northbridge
- January 2, 2001:
Members must make all military buybacks, creditable service buybacks, makeups and redeposit payments upon the approval vote taken by the Retirement Board. All payments must be completed by the members prior to their retirement.
The Board requires total payments of under $1,000 to be paid within 30 days of the Board's vote. Cash payments for buybacks, makeups and redeposits in excess of $1,000 are to be paid over a period of not more than 90 days.
Members may make payments via payroll deductions. They must contribute their additional annuity in an amount equal to their current weekly amount of contribution. These payroll deductions will be fully taxable. Weekly payroll deductions must exceed the current amount of contribution if the balance due the system from the member will not be paid within a five-year period using the double deduction method. The member seeking this method of buyback must complete the appropriate release form within 7 days of the Retirement Board vote.
Failure to complete the buyback within the periods stated above will nullify the approval vote of the Retirement Board.
- August 5, 1985:
Credit for membership shall be computed as follows:
Non Union and Union Contracts of 35 to 37 1/2 hours:
28 - 35 hours will receive 80% credit.
35 or more will receive 100% credit.
Union Contracts of 40 hours:
28 - 40 hours will receive 70% credit.
40 hours will receive 100% credit.
- February 7, 1985:
C.E.TA. employees are also subject to the above regulations.
- December 27, 1984:
Seasonal positions will be credited for a full year for not less than (9) nine months of actual full-time service during any one calendar year. Positions of less than full-time service will be credited on the basis of percentages of yearly credit as noted in amended regulation below.
Creditable membership make-up payments for the full amount due will be accepted for the years of creditable membership voted by the Northbridge Retirement Board, as computed by the town accountant.
December 27, 1984:
Regular employees shall have only (1) one position, considered as regular full-time employment. All other paid positions shall be considered overtime positions for the purposes of determining regular compensation only.