Who is subject to the additional 2% contribution?
If a member’s date of membership begins on or after January 1, 1979 and his/her annual rate of regular compensation is $30,000.00 or more, then an additional 2% will be withheld from that portion of regular compensation in excess of $30,000.00.


Sally establishes continuous membership in October of 1993. Currently, her regular compensation is $50,000. Deductions in the amount of $4,000 (8% of the $50,000) will be taken. In addition, deductions in the amount of $400 will be taken, which is 2% of $20,000 or the amount of her regular compensation over $30,000 ($50,000 - $30,000 = $20,000). Therefore, the total amount of retirement contributions on her regular compensation of $50,000 will be $4,400.

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1. If I work full-time for the Town of Falmouth, do I have to join the Falmouth Retirement System?
2. What does it mean to be a member of the Falmouth Retirement System?
3. How much am I required to contribute?
4. Who is subject to the additional 2% contribution?
5. Is regular compensation the same as total compensation?
6. How do I earn creditable service?
7. Why do I have less creditable service than my co-worker when I started working before he/she did?
8. I work for the Town of Falmouth and I also have a job in Barnstable. Do I get double service credit for my work?
9. Formerly, I was a member of a contributory retirement system, and I withdrew my funds. Now, can I “buy back” that service and enter the retirement system at my earlier (and lower) contribution rate?
10. I need to pay off some bills. Can I borrow from my Annuity Savings Account?
11. When I leave my job with the Town of Falmouth, what happens to my Annuity Savings Account?
12. How can I change my beneficiary?
13. Do I need to let the Falmouth Retirement System know if I change my personal information, i.e. my address, my marital status, my beneficiary, etc.?
14. How do I qualify for a retirement allowance?
15. What is the maximum retirement allowance that I can receive?
16. When I decide to retire, what steps do I need to take?
17. What are the different ways you can collect a retirement allowance?
18. Will my Health Insurance be covered by the Town?