Will prior creditable service affect my membership date or contribution rate in the Retirement System?
If you have retirement contributions from a previous retirement system still on account, those contributions can be transferred directly to our system and you will be entitled to maintain the same level of contributions you were paying in your previous employment. Under current regulations, if you refunded those contributions, you will become a new member of the Greenfield Retirement System and therefore; you will be subject to the new member contribution rate of 9%, plus 2% on earnings over $30,000. Once a member of the Greenfield Retirement System – you could then inquire about purchasing the previously refunded creditable service through a buy back.
Appears in: Retirement Board FAQs