Membership
Any prior policy or regulation for membership has been rescinded by vote of the Newburyport Retirement Board. As of April 24, 2013 Membership Supplemental Regulation, policy and eligibility is as follows:
Any individual who is permanently employed twenty (20) or more hours per week by the City of Newburyport or any of its departments, or by the Newburyport Retirement Board and who earns at least $5,000 in regular compensation as that term is so defined in M.G.L. c. 32, § 1 and 840 CMR 15.03 shall become a member of the Newburyport Retirement System (“System”). In addition to the foregoing, any elected official who earns at least $5,000 per year in regular compensation as so defined may elect to join the System within ninety (90) days of assuming office.
Creditable Service:
February 21, 2025
Military Service Credit Purchases
The Newburyport Retirement System’s members in service who are eligible to purchase past military service renderedpursuant to M.G.L. c. 32, § 4(1)(h), and consistent with the provisions of Sections 18, 52 and 53 of Chapter 178 of the Acts of 2024, the so-called "HERO Act," who have properly applied to purchase this past military service, may do so in either a lump-sum payment or through a payroll installment plan of up to 8 years. Members in service must remit the lump-sum payment or enter into the installment plan on or before their last day of eligibility to purchase theirmilitary service. No interest will be charged on any such purchase. If a member enters into the installment plan anddoes not complete the purchase prior to retirement, the amount of creditable service to be granted will be pro-rated based on the payments made. At any time during the installment plan, a member may pay off the entire outstanding balance without any penalty.