Membership:
Creditable Service:
April 10, 2020
Members of the Medford Retirement System shall receive creditable service, in whole month increments, consistent with this regulation in the following manner:
A. For a member in service who is employed in a full-time capacity or in a part-time capacity his/her entire career in the Medford Retirement System ("System"), he/she will receive one (1) month of creditable service for each full month for which the employee receives regular compensation and remits the appropriate contributions to the System, with said service not to exceed one (1) year of creditable service in any calendar year.
B. For a member who has rendered membership service in the System in both a full time and part-time capacity, the member shall receive full credit for all full-time service and prorated credit for part-time service based on the full-time equivalency of 151.7 hours being the equivalent of one (1) month of service.Notwithstanding the foregoing, if the full-time equivalent for the position is 40 hours per week, part-time service will be prorated based on 173.3 hours per month.
C. In the case of School Department employees whose full-time employment requires them to work from on or about September 1st to on or about June 30th , including but not limited to cafeteria workers, clerical and secretarial staff, teacher's assistant and teaching professionals, such as therapists, said employees shall receive one month of creditable service for each full month the employee is receiving regular compensation, with ten (10) months· being the equivalent of one (1) year of creditable service. School Department employees who are employed in a part-time capacity shall have their creditable service prorated in the same manner as all members of the System as set forth in this regulation. Notwithstanding the foregoing, all part-time employees who are not specifically referenced in the Board's July 12, 1988 regulation shall have their creditable service prorated in the same manner as all members of the System as set forth in this regulation.
D. The Board recognizes that certain School Department employees, including but not limited to custodians and secretaries, are required to work the entire calendar year, and in such a situation, said employee's creditable service will be calculated based on a twelve (12) month year.
E. Creditable service for 10 month employees shall be based on 1,517 hours being the equivalent of 1 year whereas creditable service for 12 month employees shall be based on 1,820 hours (35 hour a week employees) or 2,080 hours (40 hour a week employees) per year, as the case may be.
F. Members of the System may only purchase and receive credit for past non membership service rendered in a member unit of the System consistent with the provisions of M.G.L. c. 32, § 4(2)(c), or if the past service was rendered under the jurisdiction of another retirement system, such service may only be purchased ·pursuant to Section 3(5) if rendered in a temporary, provisional or substitute capacity, provided that the individual was excluded from membership in the other retirement system. All prior non-membership service shall be calculated with 151.7 hours being the equivalent of one (1) month of creditable service.
G. Past non-membership service may be purchased consistent with this supplemental regulation. In addition, for all non-membership service rendered on or after July I, 2009, no creditable service will be granted unless the individual was employed in a position with an annual salary of at least $5,000 in wages during the calendar year.
H. Members who are employed as Traffic Supervisors shall receive 1 month of creditable service for each month in which they work at least 20 days.
I. The purchase of past membership service rendered under the jurisdiction of another retirement system for which that retirement system has accepted liability pursuant to Section 3(8)(c) will be credited based on the accepted liability, and not pursuant to this regulation.
Members of the Medford Retirement System ("System") who previously rendered service in the City of Medford, in a member unit of the System or as an employee of the Medford Retirement Board (“Board") and who were not eligible to participate in the System at the time the service was rendered, shall be eligible to purchase such past service rendered, in monthly increments, consistent with the provisions of M.G.L. c. 32, §4(2)(c) and the Board's regulation regarding the calculation of creditable service. Members of the System who previously rendered service in another governmental unit in the Commonwealth of Massachusetts and who were not eligible to participate in the retirement system which has jurisdiction over said governmental unit shall be eligible to purchase such past service rendered provided that said service was rendered in a temporary, provisional or substitute position, in monthly increments, consistent with the provisions of M.G.L. c.32 § 3(5) and the Board's regulation regarding the calculation of creditable service.
March 17, 2014:
Employees who work 20 or more hours per week in an eligible position shall be eligible for membership and shall have their creditable service prorated based on the number of hours worked as a part time employee.
July 5, 2005:
Employees who work 20 hours per week or more shall be eligible for membership and shall have their creditable service prorated based on the number of hours worked as a part time employee.
July 22, 1988:
School Physicians are allowed 1 year of creditable service for each 10 months of school year employment.
Permanent Part Time Elementary School Clerks are allowed one year of creditable service based on 5 days per week, 5 1/4 hours per day, 180 days per school year.
School Lunchroom Employees who work 6 hours per day, five days per week, 40 school weeks per year are allowed one year of creditable service. For each 1200 hours, (30 x 40) they are granted one year of creditable service.
Traffic Supervisors who work 3 hours per day, for five days per week, ten school months per year, are allowed one year of creditable service.
School Health Aides employed 15 hours per week, 180 days per school year, are granted one year of creditable service.
Regular Compensation:
Miscellaneous:
November 21, 2017:
Correction of Errors
In all cases in which a benefit calculation error occurs that results in an underpayment or non-payment of a pension or benefit to a member or beneficiary, or in the event of any overpayment as the result of an error to a member or beneficiary, the Board shall, consistent with the provisions of M.G.L. c. 32 § 20(5)(c) pay to or collect from the member or beneficiary, as the case may be, the actuarial equivalent of the benefit paid or received in error. Pursuant to the Supreme Judicial Court’s decision in Herrick v. Essex Regional Retirement Board, 465 Mass. 801 (2013) and PERAC Memorandum #32/2013, the Board has determined that the actuarial equivalent requires that the interest to be applied will be 3%.
September 16, 2005:
Elections for the two elected member positions on the Medford Retirement Board shall be run simultaneously, with all of those active and/or retired members who are eligible to seek an elected seat, acquire the appropriate signatures on nominations papers provided by the Board and submit said nomination papers to the Board within the established filing period shall have their names appear on one (1) ballot, which will then be distributed to those active and retired members who are eligible to vote in said election. The names on the ballot shall appear randomly, with the word “incumbent” next to any Board member who is seeking re-election. If there are more than two (2) candidates seeking election the Board, and the terms are uneven, then the candidate who receives the most votes shall be elected to the seat which carries the greater term, and the candidate who receives the second highest vote count shall be elected to the seat with the lesser term. In the event that a seat on the Board becomes vacant due to death or resignation, the Board shall run a special election as soon as practicable and the new elected member shall serve the remainder of the term of the vacated seat.
September 1, 1993:
Forms:
Approval of three forms for use by board: Medical Information Release Form; Cover Letter to Retiree and Questionnaire to be Completed by Retiree’s Physician.
June 15, 1992:
Forms:
Approval of three forms for use by board: Disability Retiree Employment and Earnings Verification Form; Disability Retiree Medical Questionnaire Retirees’ Authorization Form for Verification of Outside Employment to be Completed By Employers.
October 29, 1986:
Administration:
Various provisions pertaining to administration of the retirement board office.