Retirement benefits are based on a variety of factors including age, length of creditable service and salary level. In addition, different rules are applicable whether you entered service before, on or after April 2, 2012.
Using your age as of your last birthday, look at the age factor chart(s) and use the corresponding percentage to determine your benefit rate.
You are considered eligible for retirement:
If hired before April 2, 2012
If hired on or after April 2, 2012
*Creditable service is earned by contributing employees working at least 30 hours or more per week.
To figure out your average annual rate of compensation:
*Actual benefit is subject to anti-spiking provision.
The pension calculator, courtesy of the Treasurer and Receiver General of Massachusetts, will give members in groups 1, 2 or 4 an approximation of their retirement benefits. Please note that actual pension amounts can ONLY be calculated at the time of retirement under M.G.L. Chapter 32.
Before April 2, 2012 On or After April 2, 2012
Under M.G.L. Chapter 32, s 4 (1)(b), a member of a public retirement system may be eligible to accrue creditable service for military service in the following two instances:
(a) whose last discharge or release from his wartime service, as defined herein, was under honorable conditions and who (b) served in the army, navy, marine corps, coast guard, or air force of the United States for not less than ninety days active service, at lease one day of which was for wartime service, provided, that any person who so served in wartime and was awarded a service-connected disability or a Purple Heart, or who died in such service under conditions other than dishonorable, shall be deemed to be a veteran notwithstanding his failure to complete ninety days of active service."
Of course, a member cannot purchase the same service twice. Also, if the member meets the definition of "Veteran," he or she may purchase National Guard or Active Reserve time at the ratio of 5 to 1.
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