Hingham Retirement Plan Description
The plan is a contributory defined benefit plan covering all Hingham Retirement System member unit employees deemed eligible by the retirement board, with the exception of school department employees who serve in a teaching capacity. The pensions of such school employees are administered by the Teachers' Retirement Board.
Membership in the system is mandatory for all employees who are regularly employed on a part-time (at least 20 hours a week) or full-time permanent basis. If you are regularly employed in the performance of duties for the Town of Hingham you are considered a member-in-service until you separate from service by reason of retirement, failure of re-election or re-appointment, resignation or removal or discharge from your position or office that you hold.
Certain part-time, provisional, seasonal, intermittent or temporary employees who are ineligible for membership will be required to participate in an alternative plan. Except in very limited circumstances, persons who are retired from one of the 105 public retirement systems in Massachusetts cannot join another Massachusetts public retirement system.
- Why do I have to contribute to the Hingham Retirement Board?
- What do you do with my contributions?
- Do you invest my money?
- What is the most I can get as a retirement allowance?
- Does a member's contribution to the Retirement System earn interest? If so, how is the interest calculated?
- Are employee contributions used to fund the administrative expenses of the Retirement System?
- What does it mean to be vested?
- When is retirement an option?
- What is the retirement allowance based on? How is it calculated?
- Can I purchase creditable service earned in another Massachusetts public retirement system?