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Option to Restart Contributions for Members Over Age 70

Posted on: December 12, 2023 - 12:34pm

Prior to July 1, 2017, an active member had the choice to either continue making employee contributions and accruing creditable service or stopping contributions and ceasing the accrual of service upon reaching age 70.  The Public Employee Retirement Administration Commission (“PERAC”) has recently notified retirement systems that legislation was passed that allows members who elected to stop contributions prior to July 1, 2017, upon reaching age 70, to restart them if certain conditions are met. To qualify, you must:

  • Maintained continuous service since making the election to stop contributions;
  • Must be an active member-in-service as of November 29, 2023;
  • Must elect to restart contributions on or before January 29, 2024;
  • The member must pay all missed contributions plus buyback interest.

If you are over age 70 and elected to stop contributing to the System prior to July 1, 2017, you will need to complete an Application by Member Electing to Restart Contributions Pursuant to Section 82 of Chapter 28 of the Acts of 2023 form.  If you qualify, please contact the retirement office at (978) 739-9151, or via email at info@essexrrs.org.