Do member’s contributions to the Retirement System earn interest?

Yes, your contributions are placed in an individual annuity savings fund, which earns annual interest at a rate comparable to that of a passbook savings account.  The interest rate is determined by the Public Employee Retirement Administration Commission and the Commissioner of Banks.  This annual interest rate is independent of that earned on the Retirement System's investments.

Appears in: Retirement FAQ

Calendar of Events
Tue, Jan 18, 2022, 6:30 pm
Remote Meeting via Zoom or Phone (See Agenda for Login/Dial-in Info)
Posted to: Board of Selectmen
  • Attached File: Selectboard 2022-01-18 Agenda
  • Attached File: Selectboard 2022-01-18 Meeting Material 1
  • Attached File: Selectboard 2022-01-18 Meeting Material 2 -Budgets
  • Attached File: Selectboard 2022-01-18 Meeting Material 3-Budgets-Narratives
  • Tue, Jan 18, 2022, 7:30 pm - 12:30 pm
    Posted to: Cultural Council
  • Attached File: Cultural Council 2022 01 18 Agenda
  • Montague EDIC -- SCHEDULED
    Wed, Jan 19, 2022, 4:00 pm - 5:30 pm
    Remote via Zoom
    Posted to: Montague EDIC
  • Attached File: MEDIC 2022-01-19 Agenda
  • Wed, Jan 19, 2022, 5:00 pm - 8:00 pm
    Town Hall Second Floor Meeting Room
    Posted to: Board of Health
  • Attached File: Board of Health 2022-1-19 Agenda
  • Selectboard Meeting -- SCHEDULED
    Mon, Jan 24, 2022, 6:30 pm
    Remote Meeting via Zoom or Phone (See Agenda for Login/Dial-in Info)
    Posted to: Board of Selectmen
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