Membership:
August 23, 2010:
A member of the System who is employed on a full-time basis in the Holyoke School Department is a clerical position or as a paraprofessional who is not eligible for membership in the Mass Teachers’ Retirement System shall be credited with a full year creditable service for each academic year However, in no case should more than 12 months creditable service be granted in one calendar year If a transfer is made to a full-time position in another City department, School Department service will be prorated
For the purpose of computing partial or pro rata membership service, full-time credit shall be considered to be 260 work days at 7 hours per day, or 1820 hours per annum
Appointed Officials
Members of boards and commissions are not eligible for membership in the System unless otherwise specifically allowed under Chapter 32.
Creditable Service:
May 29, 2007:
Any Full-time employee, who is a member of the Holyoke Retirement System, is eligible to purchase previous seasonal, temporary or provisional service rendered for any governmental unit belonging to the Holyoke Retirement System.
October 1, 2002:
Retirement Credit for Service Rendered as a Part-Time Employee
A member whose entire service is in a part-time position shall receive one year of creditable service for each year worked, provided the member works the number of hours required by the position.
A member employed on a part-time basis who becomes full- time shall receive credit for his part-time service on a pro-rated basis as it relates to a full-time position.
A member employed of a full- time basis who becomes part-time shall receive credit for his part-time service on a pro-rated basis as it relates to a full-time position.
Regular Compensation:
May 7, 2021
Employment of Active Members in Additional Employment Positions within the Holyoke Retirement System
Where an active member of the Holyoke Retirement System becomes regularly employed in additional positions with the City of Holyoke or any other member unit of the Holyoke Retirement System, and where the compensation paid to the member for services rendered in the additional positions complies with the requirements of regular compensation as set forth in G.L. c. 32, § 1 and 840 CMR 15.03, the compensation for the additional positions paid to the member shall be regular compensation.
Miscellaneous:
June 29, 2020
Policy on Provisional Payments to Retirees/Beneficiaries Pending PERAC Approval
The purpose of the Policy on Provisional Payments to Retirees Pending PERAC Approval is to provide a timely first payment to retiree/beneficiaries who have been approved to receive a retirement allowance, but whose retirement allowance calculations are subject to review and approval by PERAC.
It shall be the policy of the Board that all such retirees/beneficiaries be paid as soon as practical the monthly retirement allowance as calculated by the Board’s staff and as submitted to PERAC for approval.
If PERAC approves a retirement allowance calculation which is greater or lesser than the amount submitted for approval, appropriate adjustments shall be made to the retirement allowance, so as to correct the System’s records and to make the retiree/beneficiary and/or the System whole.
This policy shall not apply to retirees/beneficiaries who are in pay status pending PERAC approval of a recalculated retirement allowance.
July 26, 2018
Correction of Errors under G.L. c. 32, 20(5)(c)(2)[1]
In all cases of correction of an error of the Holyoke Retirement Board of an underpayment or non-payment of a pension or benefit to a member or beneficiary of the Holyoke 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 error of the Holyoke Retirement Board of an overpayment of a pension or benefit to a member or beneficiary of the Holyoke 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)(b).
Pursuant to the judgment of the Supreme Judicial Court in Herrick v. Essex Regional Retirement Board, 465 Mass. 801 (2013), PERAC Memorandum #32, 2013, and PERAC Memorandum #14/2018, said interest shall be deemed to be the actuarial equivalent of the adjustment to the pension or benefit as set forth in G.L. c. 32, § 20(5)(c)(2).
[1]G.L. c. 32, § 20(c)(2)- When an error exists in the records maintained by the system or an error is made in computing a benefit and, as a result, a member or beneficiary receives from the system more or less than the member or beneficiary would have been entitled to receive had the records been correct or had the error not been made, the records or error shall be corrected and as far as practicable, and future payments shall be adjusted so that the actuarial equivalent of the pension or benefit to which the member or beneficiary was correctly entitled shall be paid. If it is determined that a member has contributed an incorrect amount to the retirement system, the member shall be required to contribute an amount sufficient to correct such error or the board shall pay an amount to the member to correct such error, as the case may be.
August 23, 2010:
Contractual Services:
Any person hired by any of the System’s governmental units on a contractual basis to provide services in a position which has not been included in its operating budget or organizational chart shall not be eligible to become a member of the System.
Contract service providers are ineligible for membership in the System.
Contract service providers are not eligible to receive creditable service for such periods in which services were provided, subsequent to establishing membership in the System.
Compensation paid for such services during such periods shall not be utilized in retirement computations.
In determining whether service is rendered as an employee or an independent contractor for the purposes of this Rule, the Board will consider various factors including, but not limited to:
- whether services were provided for an indefinite period of time or for a specific period of time under a contract;
- whether the service provider was eligible for employment benefits such as sick leave, vacation and health insurance;
- whether the service provider received a W-2 form or a 1099 form;
- whether the service provider worked during regular business hours;
- whether services were performed at the employer’s premises;
- whether the service provider utilized his or her own tools and equipment:
- whether the service provider was required to submit time billings and statements of services rendered; and,
- whether the service provider was subsequently hired as a permanent employee with retirement membership for the same work for which the employee seeks creditable service.