Is regular compensation the same as total compensation?
No. Regular compensation is the portion of your salary that is subject to retirement contributions. Under M.G.L., Chapter 32, overtime pay, bonus pay, severance pay, any payments made for unused sick time, and several other payments, are not considered regular compensation, are not subject to retirement and cannot be used towards your three-year salary average for the purpose of determining your retirement allowance.

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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?