PERAC Memo #17 - 2023: Reinstatement to Service under G.L. c. 32 § 105

PERAC MEMO # 17 / 2023 M E M O R A N D U M TO: All Retirement Boards FROM: John W. Parsons, Esq., Executive Director RE: Reinstatement to Service under G.L. c. 32 § 105 DATE: July 2 5, 202 3 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, 2023 through June 30, 2024. 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 shown factors for only 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. p:\actuaria\section105memo2022.docx PERAC Auditor DIANA DIZOGLIO | KATHLEEN M. FALLON | KATE FITZPATRICK | JAMES J. GUIDO | RICHARD MACKINNON, JR. | JENNIFER F. SULLIVAN, ESQ. JOHN W. PARSONS, ESQ., Executive Director FIVE MIDDLESEX AVENUE, SUITE 304 | SOMERVILLE, MA 02145 PH 617 666 4446 | FAX 617 628 4002 | TTY 617 591 8917 | WWW.MASS.GOV/PERAC COMMONWEALTH OF MASSACHUSETTS | PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION COMMISSION PHILIP Y. BROWN, ESQ., Chair