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
Mon, May 16, 2022, 6:00 pm - 8:00 pm
see Zoom link attached to the Agenda
Posted to: Board of Health
  • Attached File: Joint BOH and Selectboard Meeting 2022-05-16 Agenda
  • Mon, May 16, 2022, 6:30 pm
    see zoom link under Selectboard Meeting Agenda
    Posted to: Board of Selectmen
  • Attached File: Selectboard 2022-05-16 Agenda
  • Attached File: Selectboard 2022-05-16 Meeting Materials
  • Tue, May 17, 2022, 7:00 am - 7:00 pm
    Posted to: Town Clerk
  • Attached File: Annual Town Election May 17 2022
  • Tue, May 17, 2022, 4:30 pm - 5:30 pm
    Posted to: Energy Committee
  • Attached File: Montague Energy CommitteeAgenda 2022-5-17
  • Wed, May 18, 2022, 5:00 pm - 8:00 pm
    Town Hall Second Floor Meeting Room
    Posted to: Board of Health
  • Attached File: Board of Health 2022-05-18 Agenda
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