|HAMPDEN COUNTY REGIONAL RETIREMENT SYSTEM|
Serving the County of Hampden Massachusetts
Organized under the laws of the Commonwealth of Massachusetts effective January 1, 1937, the Retirement System has over three thousand (3,000) active members and one thousand five hundred (1,500) retirees and beneficiaries from thirty-five (35) member units throughout Hampden County.
The Retirement System is governed by a five-member Retirement Board, made up of two elected members, one member appointed by the member unit treasurers, one member appointed by the Board and a chairman also appointed by the Board. This retirement system is subject to the provisions of Chapter 32 of Massachusetts General Laws. Our system, as well as all of the 105 other retirement systems in Massachusetts, is overseen by the Public Employee Retirement Administration Commission ("PERAC").
This is a defined benefit plan. That means that a specific formula based upon a member's age, retirement service credit, and highest three or five consecutive year's average salary are used to determine a member's gross retirement allowance. This is a guaranteed lifetime benefit.
As of October 1, 2008 the assets of the system were transferred and became a part of the larger state retirement fund known as the Pension Reserve Investment Trust Fund, or "PRIT Fund". This change only involved the management of the Board's assets and nothing else. The office and staff remain in place to serve our members and retirees on a daily basis and continue to issue monthly retirement allowance checks from our location which is: Hampden County Regional Retirement Board, Agawam Corporate Center, 67 Hunt Street - Suite 116, Agawam, Massachusetts 01001.
This website is here to provide members, employees, retirees and beneficiaries of the Hampden County Regional Retirement System with information and news items. We hope the site is used as a source of information to the benefit of those we serve.
If you have any thoughts, comments or suggestions regarding the site, please feel free to send them to our office by email to firstname.lastname@example.org.