PERAC Memo #27 - 2017: Reinstatement to Service under G.L. c. 32 § 105
Reinstatement to Service under G.L. c. 32 § 105
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This memo announces an updated version of the PERAC Reinstatement to Service Application form under G.L. c. 32, § 105, effective July 1, 2017 through June 30, 2018. Boards should note that members electing reinstatement must repay all amounts owed and work at least five years of full-time employment; boards should counsel interested members carefully before processing the form, which transforms the member from retiree status back to member-in-service status upon signing.
Full Text
M E M O R A N D U M
TO: All Retirement Boards
FROM: Joseph E. Connarton, Executive Director
RE: Reinstatement to Service under G.L. c. 32 § 105
DATE: August 1, 2017
We have updated the PERAC form entitled Application for Reinstatement to Service from Superannuation/Termination Retirement Pursuant to G.L. c. 32 § 105 that allows members to apply for reinstatement under this section. The revised form is effective from July 1, 2017 through June 30, 2018.
Since some members must repay large amounts and all members must work at least five years of full-time employment (though they need not necessarily earn five years of creditable service), interested individuals should carefully consider whether reinstatement is appropriate in their situations. Boards should carefully counsel interested members to assure that they are aware of the requirements and benefits of this section. Boards should complete the first portion of this form and provide it to such members. Upon signing this form, the members are transformed from retiree status to member in service status.
We trust the foregoing is of assistance. Any questions should be directed to the actuarial unit. Note that due to spatial limitations on the form, we have only shown factors for the most commonly used investment return assumptions. If your investment return assumption is not shown, please call the actuarial unit so that they can develop the appropriate factors.