Active Members

Notes for those enrolled on or after to April 2, 2012

Active Members

Notes for Active Members who were enrolled on or after April 2, 2012:

  • Your retirement account is a true pension plan, not a 401K.  

  • Group 1 can retire with 10 yrs service at age 60, Group 2 and Group 4 can retire with 10 yrs service at age 55.  Please note that you must have performed the duties of the Group 2 or Group 4 position for at least 12 months immediately prior to your termination or retirement.

 

  • Full retirement age is 67 for Group 1, 62 for Group 2, and 57 for Group 4

 

  • Pension is calculated using your age at the time of retirement, your years of creditable service, your group classification and an average of your five highest consecutive years of regular compensation.

 

  • Section 18 Anti-Spiking provision:  if salary increases more than 10% in 2 preceding years, those earnings are not included

 

  • Once you have attained 30 years of creditable service, your contribution rate will be reduced to 6%

 

  • Once you have been retired for 1 year, post-retirement earnings when added to the pensioner’s retirement allowance cannot exceed the salary of the position from which he retired, plus $15,000

 

  • If you have service in more than one Group classification, your benefit will be pro-rated by the amount of time you worked in each Group classification.

Direct Deposit dates:

January 31, 2020

February 28, 2020

March 31, 2020

April 30, 2020

May 29, 2020

June 30, 2020

July 31, 2020

August 31,2020

September 30, 2020

October 30, 2020

November 30, 2020

December 30, 2020

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Records Access Officer

CONTACT US:

Phone: 413-499-1981      

Fax:      413-445-7990                                    

Email:   info@berkshireretirement.com

29 Dunham Mall

Pittsfield, MA 01201-6207

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