Norwood Retirement Board Supplemental Regulations

December 31, 1997

Make-UpPayments

The minimum deduction regarding make-up payments would be no less than $10.00 per week, or $500.00 per year.

February 13, 1991

Membership

Any new hires must earn a minimum of $5000.00 per year and work a minimum of twenty (20) hours per week to be eligible for membership into the Norwood Retirement System.  (Traffic and Cafeteria Workers are exempt).

July 7, 1986

Election Rules

Sixty-day notice requirement for use in retirement board election.

December 31, 1984

Creditable Service

1.  Service Credit for Employees on Provisional Basis.
Employees who are employed on a full-time regular basis and wish to receive credit for the time they spent on a provisional or part-time basis will be given credit for each month worked prior to becoming a full-time regular employee.  Any part of a month is to be considered a full month.

2.  Part-time employees:.
The minimum salary for acceptance of part-time workers into the Norwood Contributory Retirement System shall be $1500.00 yearly. Anyone earning less than $1500.00 will not be accepted as a member. 

In each and every case concerning part-time workers the board shall determine what service credit shall be for each individual permanent part-time position.  The basis for a full year’s credit shall be 2000 hours.

The Board has determined that this policy on part-time workers shall apply to all part-time workers now in the system as well as those who join the retirement system in the future.

3.  Police Traffic Supervisors and Cafeteria Workers:
Police Traffic Supervisors and School Cafeteria Workers shall receive a full year’s credit for each year worked. 
(Amended February 13, 1991.  See Membership).