Active Members and InActive Members
|A meeting of the Hampden County Regional Retirement Board Advisory Council was held on October 30, 2014. At that meeting, the Advisory council, acting in its capacity as Election Board declared that Karl Schmaelzle was re-elected without opposition to the position of ng an election for the position of Member's Representative to the Hampden County Regional Retirement Board. The term for this position will be from January 1, 2015 - December 31, 2017. |
The passage of Chapter 176 of the Acts of 2011 by the Massachusetts Legislature will greatly affect the way benefits are calculated for NEW MEMBERS of the Hampden County Regional Retirement System whose MEMBERSHIP DATE COMMENCES ON OR AFTER APRIL 2, 2012. If you have questions regarding the changes to the benefit calculation, please contact the Retirement Board.
One area of the new legislation that will affect current members of the Hampden County Regional Retirement System deals with the cost of purchasing prior refunded or non-member public service in the Commonwealth of Massachusetts. The Hampden County Regional Retirement Board strongly recommends that you contact the Retirement Office if you have prior service time that you have not purchased as of March 7, 2012 and are considering purchasing the service time. This new legislation will not affect the cost of purchasing approved military service time.
Another area which Chapter 176 of the Acts of 2011 deals with is anti-spiking. The provisions regarding anti-spiking may have an effect on the calculation of the highest three consecutive year's average salary of all members who retire after April 2, 2012, regardless of an individual's membership date with the Retirement System. The Public Employee Retirement Administration Commission (PERAC) issued their memo #38/2012 which provides an overview of Section 14 and Section 18 of Chapter 176 and the impact of these sections in determining the 3-year (or 5-year as the case maybe) average of regular compensation.
For any member interested in reviewing the anti-spiking provisions of Chapter 176, you may contact the Hampden County Regional Retirement Board for information. The phone number is (413) 737-1344 or a member may go to the PERAC website at www.mass.gov/perac and click on memos for 2012 to access PERAC Memo #38/2012.