You are required to contribute a set percentage of your salary and an additional 2% on any salary over 30,000 through regular payroll deductions. Your contribution rate is established by the Massachusetts Retirement Law and is determined by the date on which you first became eligible for membership in a Massachusetts contributory retirement system and from which you continuously maintained your funds on account. The following rates depend on the date on which you became a member of a Massachusetts:
- Before January 1, 1975: 5%
- January 1, 1975 through December 31, 1983: 7%
- January 1, 1984 through June 30, 1996: 8%
- July 1, 1996 or After: 9%
Whether you are subject to the 2% over $30,000 deduction is determined by your membership date. If the date on which you became a member of the Massachusetts contributory retirement system and from which you continuously maintain your funds on account is:
- Before January 1, 1979: not subject to 2%
- On or after January 1, 1979: subject to 2%