- Cost-Of-Living Adjustments are voted on annually and if granted, are effective in your July pension check.
- Affidavits are mailed annually and must be signed and notarized and returned to our office by the specific due date assigned. The affidavits are sent to ensure that the proper person is actually receiving the pension and that the retiree is still living.
Failure to return your completed affidavit will result in the interruption of your pension.
- Your IRS 1099 forms will be mailed to you by January 31st each year.
- Heath Insurance questions should be directed to the agency from which you retired.
- Your Municipal pension is federally taxable but not state taxable in Massachusetts.
- If you need to change your bank or bank account number, your address, or your federal tax withholdings please use the appropriate link below:
- Direct deposits are on the last working day of each month.
- A SUPERANNUATION RETIREE CAN BE RE-EMPLOYED IN THE PUBLIC SECTOR BUT ARE LIMITED IN TWO WAYS:
- Cannot exceed a total of 960 hours of work.
- Earnings from this employment when added to the retirement allowance
cannot exceed the amount currently being paid to the position from which
retired. After your first full year of retirement you may add an additional
$15,000 to your allowable earnings.
|Earning from Employment|
|Pension paid during current year||+|
|Allowable Earnings (first year)|
|Additional after first 12 months of retirement||+||$15,000.00|
|Amount currently paid to position retired from|
IT IS THE RESPONSIBILITY OF THE EMPLOYEE TO KEEP TRACK OF HOURS WORKED AND WAGES RECEIVED AND REPORT THIS TO THIER EMPLOYER.