Retirement Plan/Group Membership

Retirement Plan/Group Membership

School employees do not contribute to social security; therefore, they are required to participate in a contributory retirement system or an OBRA plan.  Placement in one of the retirement plans (Mass Teachers' Retirement System, Worcester Regional Retirement System or the SMART Plan*) is determined at the time of hire or job change based upon eligibility standards—not employee option.   For more information please visit: www.mass.gov/mtrs/; www.worcesterregionalretirement.org; www.mass.gov/smartplan/forms/OBRAPlanHighlightsr.pdf; and www.mass.gov/smartplan/ forms/OBRAGuide_091109_ForPrint.pdf.
 
 
*Employees who do not contribute to a retirement system in accordance to M.G.L, C. 32 or do not work in a municipality with an executed Section 218 agreement electing Social Security coverage are mandated by federal law to participate in the SMART Plan.  The SMART Plan is a 457 deferred compensation plan operated by the Commonwealth of Massachusetts in accordance with the Omnibus Budget Reconciliation Act (OBRA) of 1990. 
 
Attention Employees who Contribute to an OBRA Plan