Frequently Asked Questions

If you are employed by the City of Framingham on a permanent basis, holding a position which requires you to work a minimum of 20 hours per year, you are eligible to become a member of the Framingham Contributory Retirement System.

According to the Massachusetts Retirement Law (Chapter 32 of the Massachusetts General Laws), you must become a member of the system if you meet the eligibility requirements.

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. The Massachusetts Retirement Law establishes your contribution rate. It is determined by the date 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 contributory retirement system:

• 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%

The retirement office establishes and maintains an individual annuity savings account in your name for your retirement. At the end of every calendar year, you will receive a statement showing the balance of your contributions accumulated interest so you know how much you have in your account.

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 if you become a member on or before April 2, 2012.
• Your highest average salary for 60 consecutive months if you become a member after April 2, 2012.

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

No. The funds must remain in your account with the system until your retire, die, or become an inactive member who is eligible to receive a refund of the money.

You will be vested to receive a retirement allowance when you have at least 10 years of creditable service.