Peabody Retirement Board Supplemental Regulations

Subject:

Regulation:

MEMBERSHIP:

 

 

July 21, 1993 Buy-backs: In order to purchase prior service, a person must have been or be a member of the Peabody Retirement System.

July 23, 1991 Membership: To become a member of the Peabody Retirement System, a member must be employed in a permanent position with a normal work week of twenty (20) hours per week.

CREDITABLE SERVICE:

 

REGULAR COMPENSATION:

 

MISCELLANEOUS:

July 20, 2004
Any purchase of military service time [pursuant to Chapter 468 of the Acts of 2002] may be paid over a five-year period. These payments may be made in one lump sum or by payroll deductions and must be paid in full within the five-year period from the date of returned application and before retirement or employment termination.