Watertown Retirement Board Supplemental Regulations

Subject:

Regulation:

MEMBERSHIP:

 

 

October 2, 2002
Part-Time and Temporary Full-Time employees of the Watertown School Department shall be eligible for membership in the Watertown Retirement System after fifteen (15) months of consecutive school year employment in a position which requires him/her to work a minimum of 20 hours per week.

CREDITABLE SERVICE:

February 11, 2004
Leave Taken in Conjunction with Unpaid Leave
1. Creditable service shall include any periods of continuous absence during which a member receives partial regular compensation. During such periods, the member shall receive creditable service in proportion to the percentage of partial regular compensation received. If the percentage of partial regular compensation received during such periods equals or exceeds fifty percent (50%) the member shall be credited with full creditable service.

Example: A member on continuance absence under the Family and Medical Leave Act who receives one day of regular compensation per five-day week shall be credited with one day of creditable service for that week. A member who utilizes two and one-half days of regular compensation, or greater, shall receive full creditable service.

2. Creditable service may be allowed by the board for any period of continuous absence without regular compensation which is not in excess of one month. Any portion of any leave or period of continuous absence of any member without regular compensation which is in excess of one month shall not be counted as creditable service.

Example: A member who on unpaid leave under the Family and Medical Leave Act may, upon petition to the Board, receive up to one month of creditable service during such period without payment of retirement contributions.

REGULAR COMPENSATION:

 

MISCELLANEOUS:

April 9, 2001
Liability
The Board will not accept liability for service for non-contributing employment service requested by members of other retirement systems, unless the former employees were wrongfully excluded or omitted from membership in the Watertown Retirement System.

August 18, 2000
Employment Service Rendered Under Federal Grants
After further review of the relevant provisions of G.L. c. 32, further review of recent administrative and judicial decisions rendered regarding membership and creditable service, and further review of prior determinations and promulgations of the Public Employee Retirement Administration Commission relative to recovery of pension costs from federal grants, the Watertown Retirement Board hereby adopts the following supplemental regulations.

1. Employees of a member unit of the Watertown Retirement System whose compensation is paid through a federal grant (e.g., CETA, EAP, Title I, LEAA,) and whose employment terms and conditions would otherwise qualify them for membership, are eligible for membership in the Watertown Retirement System.

2. Active members of the Watertown Retirement System who previously rendered service in a member unit but were excluded or omitted from membership in the Watertown Retirement System due solely to the federal source of payment of the employees' compensation, and whose employment terms and conditions would otherwise qualify them for membership in the Watertown Retirement System, are entitled to membership in the system retroactive to the date of such exclusion or omission, upon full and complete payment into the retirement system of the appropriate retirement contribution. Such members are entitled to the benefits of membership which were in effect at the time of such exclusion or omission.

3. Active members of the Watertown Retirement System who have rendered prior employment service in a non-member unit and whose compensation for such service was paid through a federal grant, are eligible to purchase creditable service for such prior employment service, if such prior employment service, if rendered in a member unit, would have been eligible to be purchased.

Correction of Errors under G.L. c. 32, 20(5)(c)(2)

In all cases of correction of an underpayment or non-payment of a pension or benefit to a member or beneficiary of the Watertown Retirement System which results in a onetime retroactive payment of benefits, such payment shall include interest for such period of underpayment or non-payment at the rate annually determined for such period by the Public Employee Retirement Administration Commission pursuant to G.L. c. 32, § 22(6).

In all cases of correction of an overpayment of a pension or benefit to a member or beneficiary of the Watertown Retirement System, the amount of overpayment shall be due from the member or beneficiary, along with interest for said period of overpayment at the rate annually determined by the Public Employee Retirement Administration Commission pursuant to G. L. c. 32, § 22(6).

Pursuant to the judgment of the Supreme Judicial Court in Herrick v. Essex Regional Retirement Board, 465 Mass. 801 (2013) and PERAC Memorandum #32, 2013, said interest shall be deemed to be the actuarial equivalent of the adjustment to the pension or benefit as required by G.L. c. 32, § 20(5)(c).