Can I purchase creditable service earned in another Massachusetts public retirement system?
If you were a member of another retirement system subject to the provisions of Chapter 32 of the General Laws, and you withdrew your retirement funds, it is possible to buy back your prior creditable service. The Retirement Office will verify your prior service then calculate the amount of your buyback. You must repay the amount withdrawn, plus interest to the date of repayment. You may complete a buy back as a lump sum payment or a payment plan up to the number of years you wish to buy back, but not more than 5 years.

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1. Why do I have to contribute to the Hingham Retirement Board?
2. What do you do with my contributions?
3. Do you invest my money?
4. What is the most I can get as a retirement allowance?
5. Does a member's contribution to the Retirement System earn interest? If so, how is the interest calculated?
6. Are employee contributions used to fund the administrative expenses of the Retirement System?
7. What does it mean to be vested?
8. When is retirement an option?
9. What is the retirement allowance based on? How is it calculated?
10. Can I purchase creditable service earned in another Massachusetts public retirement system?
11. Will prior creditable service affect my membership date or contribution rate in the Hingham Retirement Board?
12. Is regular compensation the same as total compensation?
13. Does my participation in a deferred compensation plan affect my Hingham Retirement Board's retirement benefit in any way?
14. If I leave my job, what happens to my contributions?
15. If I leave my job and decide to withdraw my contributions, will I receive all my interest?
16. Is there any time limit after your termination for requesting a refund of your contributions?
17. Can a member who is vested and who terminates employment still be eligible for a refund?
18. If I terminate my employment and leave my money in the retirement system, can I retire at a later date?
19. Can a member withdraw or borrow money from his or her account in the retirement system without resigning or retiring?
20. What are the tax consequences if I take a refund of my retirement contributions?
21. If I die before retirement, what happens to my money?
22. I want to retire, what do I do?