Contribution Rates
Employees contribute a percentage of their regular compensation to the retirement system. A member’s contribution rate is set by statute and determined by his or her most recent membership date.*
| Membership Date | Contribution Rate |
|---|---|
| Prior to Jan 1, 1975 | 5% |
| Jan 1, 1975 to Dec 31, 1978 | 7% |
| Jan 1, 1979 to Dec 31, 1983 | 7% plus an additional 2% of compensation in excess of $30,000 |
| Jan 1, 1984 to Jun 30, 1996 | 8% plus an additional 2% of compensation in excess of $30,000 |
| As of Jul 1, 1996 | 9% plus an additional 2% of compensation in excess of $30,000 |
| New Members After Apr 2, 2012 | 9% plus an additional 2% of compensation in excess of $30,000. Members in Group 1 with 30 years of creditable service will have their contribution rate decreased to 6% plus an additional 2% of compensation in excess of $30,000 |
*NOTE: If a member receives a refund of retirement contributions from any Massachusetts contributory retirement system and later re-establishes membership with the Dukes County Contributory Retirement System, his or her contribution rate will be at the new member rate, even if the member re-deposits the amount withdrawn.
Members’ contributions will be taken by their employer from their regular compensation on a weekly, biweekly, or monthly basis as determined by their pay period.