What type of retirement plan is this?

Your pension plan is considered a defined benefit plan that operates as a qualified employer plan under section 401(a) of the Internal Revenue Code. As a defined benefit plan, your retirement allowance is calculated using:

  • Your years of credible service
  • Your age at retirement
  • Your highest average salary for 36 consecutive months


Your retirement allowance is not solely based on your contributions to the system.

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1. Am I eligible to become a member of the Framingham Retirement System?
2. Am I required to become a member of the Framingham Retirement System?
3. How much am I required to contribute?
4. What happens to my contributions?
5. What type of retirement plan is this?
6. Will I have access to the funds in my annuity savings account?
7. When will I be vested in a retirement allowance?