Plymouth County Retirement Board Supplemental Regulations

May 26, 2010

Membership

That any employee hired after April 30, 2010 with earnings of less than $5,000.00 annually will be excluded from membership to the Plymouth County Retirement Association.

October 13, 2005

Military Service Buyback

Any eligible member entitled to purchase credit for military service must notify the Plymouth County Retirement Board not later than 180 days of being notified of eligibility.

The Board requires lump sum if the amount due is less than $500.00.  If over this amount the Board will allow installment payments calculated as double the normal deductions.  Interest will not be charged prior to the 180 days expiring.  Interest will be charged on the unpaid balance of installment payments after the expiration of the 180 day period.

August 2, 1999

Buy-backs

Any eligible member entitled to purchase credit for military service must notify the Plymouth County Retirement Board not later than 180 days of being notified of eligibility.  Payments must commence within the 180-day period.

The Board requires a lump sum payment if the amount due is less than $500.00.  If over this amount, the Board will allow installment payments calculated as double the normal deductions.  Interest will not be charged prior to the 180 days expiring.  Interest will be charged on the unpaid balance of installment payments after expiration of the 180-day period.

August 2,  1999

Buy-backs

Any member eligible to purchase military service under the provisions of Chapter 71 of the Acts of 1996 must render payment for the cost of such military service buyback in a lump sum payment or two installments, either of which must be made within a 12 month period commencing with the date of acceptance of the application by the Board.

June 6, 1990

creditable service

The retirement association will grant one full year of creditable service for retirement purposes to those employees of public school systems employed on a full time basis for a full academic year provided that such annual employment period consists of 180 days.  This regulation shall apply to those clerical personnel, school nurses, aides and other employees eligible for membership in the retirement association.  For the purposes of this regulation, regularly scheduled school vacations, release periods and holidays shall count toward the 180-day employment period.