Woburn Retirement Board Supplemental Regulations

Subject:

Regulation:

MEMBERSHIP:

 

 

October 29, 2010: A. Employees of all member units of the Woburn Retirement System who are regularly employed in a permanent position for a minimum of 20 hours per week and who earn a minimum of $5,000 per year must become members of the System.

B. Employees of all member units of the Woburn Retirement System who are provisional, seasonal, temporary or intermittent, and who are regularly employed in a position for a minimum of 20 hours per week for a period of six consecutive months, and who earn a minimum of $5,000 per year, must become members of the system at the conclusion of the six-month period. Such members shall be allowed to purchase prior non-membership service.

C. Employees of all member units of the Woburn Retirement System who are employed less than 20 hours per week are ineligible for membership.

D. Employees, elected and appointed officials of all member units of the Woburn Retirement System who earn less than $5,000 per year are ineligible for membership.

CREDITABLE SERVICE:

October 29, 2010: A. Members of the Woburn Retirement System who earn less than $5,000 per year and who established membership prior to July 1, 2009 shall continue to be members of the system. The regular compensation of such member shall be subject to retirement withholdings, but such member shall not accrue creditable service after July 1, 2009, except that, such member who on said date was serving in an elected or appointed term of office or employment shall continue to be credited with service until the expiration of said term of office or employment, but not thereafter.

B. Members of the Woburn Retirement System shall be credited with one year of service for each year of employment of not less than 20 hours per week, or yearly proportion thereof. If the members hours of employment fall below 20 hours per week, the member shall be credited with one-half year of creditable service, or yearly proportion thereof.

C. Creditable service may be allowed for any period of approved leave of absence without regular compensation that is not in excess of one month, upon petition to the Board by the member. Any portion of any period of continuous leave of absence of any member without regular compensation that is in excess of one month shall not be creditable service.

October 29, 2010: APPLICABILITY:
This regulation shall apply to creditable service calculated for member buybacks, membership transfers to other Massachusetts retirement systems, and to retirement benefit calculations for members of the Woburn Retirement System retiring on or after November 1, 2010.

REGULAR COMPENSATION:

 

MISCELLANEOUS: