Shrewsbury Retirement Board Supplemental Regulations

Subject:

Regulation:

MEMBERSHIP:

 

March 25, 2010: Those employees who earn $5,000 or more per calendar year are eligible for membership in the Shrewsbury Contributory Retirement System.

May 22, 1991: Part-time Employees: Effective July 1, 1991, any part-time employee who works 20 hours or more per week shall become a member of the retirement system.

CREDITABLE SERVICE:

August 2, 2002: Service Liability – No liability for service will be accepted for service with the Town of Shrewsbury which did not entitle the employee to membership in the Shrewsbury Retirement System (worked under 20 hours per week on a permanent basis) unless the employee subsequently becomes a member of the Shrewsbury Retirement System purchases said service while employed by the Town of Shrewsbury.

November 29, 1994: Part-time Employees: Members designated as part-time employees (those who work less than 37 1/2 hours per week) shall be granted creditable service according to the following:
Hours per week                                   Creditable Service
20 but not less than 22.5 ---------------7 Months
22.5 but not less than 25.5--------------8 Months
25.5 but not less than 28.5--------------9 Months
28.5 but not less than 32----------------10 Months
32 but not less than 35------------------11 Months
35 + ---------------------------------------12 Months

• Any member whose hours per week are reduced below 20 shall be granted creditable service at the 20 hour level.

September 20, 1990: Buy-backs Buy Back of Prior Service: The length of creditable service an individual will be eligible to buy back will be equal to actual time worked.

 

REGULAR COMPENSATION:

 

MISCELLANEOUS:

January 29, 1988:
Staff Salary: Determined by vote of the board in accordance with town salary schedule.
Staff Benefits: Determined by vote of the board in accordance with but not limited to the Personnel bylaw.
Disclosure:  Board shall perform within the disclosures law and open meeting law of the Commonwealth;
Purchase of prior service:
These part-time employees shall then have the privilege of purchasing this past service;
• C.E.T.A. Employees: Members may purchase their C.E.TA. employment time with creditable service pro-rated based upon the actual hours worked.

November 29, 1994: Meeting: 2nd Friday of month; changes may be made by the board;