Eligibility for Membership
If you are employed by the Town of Natick on a permanent basis and working for 20 or more hours a week on a regular basis, you are eligible to become a member of the Natick Retirement System.
According to Massachusetts General Law, Chapter 32, if you are eligible for membership your enrollment is mandatory
Eligibility for Retirement Allowance
You are eligible to apply for an allowance when you
· Have at least ten years of creditable service and have reached the age of 55
or
· Have 20 years of creditable service regardless of your age
Type of Plan
Your pension plan is a defined benefit plan. Your allowance is calculated using 1) your years of creditable service, 2) your age at retirement and 3) your highest average salary for 36 consecutive months.
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