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1. Can my retirement benefits be assigned or attached?

Massachusetts General Law (M.G.L.) Chapter 32 governs the Commonwealth's public employee contributory retirement systems. The Natick Contributory Retirement Board is one such system.

M.G.L. c.32 specifically directs how and under what circumstances a member's retirement benefits may be attached or assigned. No assignment of any right to an annuity, pension or retirement allowance shall be valid unless specifically directed in M.G.L. c.32. Presently, the provisions of M.G.L. c.32, §§19, 19A, 19B and 19C allow attachments and assignments of pension benefits in the following circumstances:

• assignments made pursuant to certain support orders, including qualified domestic relations orders
• assignments made to provide restitution in instances of dereliction of duty
• assignments made by a member for the purpose of payment of a health or life insurance premium, for a policy related to work and in effect on the member's retirement
• repayments of benefits paid by the Commonwealth for those individuals who have become public charges
• notice of levy issued by the Internal Revenue Service for the purposes of collecting unpaid federal tax

2. Do I get any interest on my refund?

If you have less than 10 years of creditable service and you voluntarily terminated service, you will be credited with 3% interest on your total deductions.

If you have more than 10 years of creditable service or you involuntarily withdraw from service your total deductions will be credited with regular interest. Also, if you have 10 or more years of creditable service, you should call the Retirement Board to discuss your options - you may be vested and eligible for retirement at age 55.

No interest will accrue to your account after 2 years from the date of your separation from employment.

3. How much may I earn by working after I retire?

If you have received a superannuation retirement benefit for at least one full calendar year, the limits to working in the public sector have been raised.

Limitations include:

• If you go back to work in city, town, county, municipal, or state government in Massachusetts, you can now earn the difference between the current salary of the position you retired from and your pension, plus an additional $15,000.
• Rules pertaining to the maximum 960 hours certain retirees can work in a calendar year still apply. For example, if the current salary of the position you retired from is $40,000 and your pension is $20,000 per year, you would be able to earn up to $35,000 per calendar year or work up to 960 hours, whichever comes first
• As a retiree, you must cease employment whenever either one of the above two conditions are met. If you are at your allowable limit and wish to continue working, then you must waive your retirement allowance.
• Separate earnings limitations apply to members who receive Accidental Disability Benefits.

4. What if I leave public service after I am vested but before I am old enough to retire?

If you leave service after you are vested, you may leave your retirement contributions in the system and receive a state pension at age 55, or age 60 if you became a member after April 2, 2012.