Creditable Service

Creditable service is an important part of your retirement and determines when you are eligible to receive a retirement allowance and is also a key component of your benefit calculation.  Positions that schedule a 35 hour work week are full time. 

For a member in service who is employed in a full-time capacity or in a part-time capacity his/her entire career in the Medford Retirement System (“System”), he/she will receive one (1) month of creditable service for each full month for which the employee receives regular compensation and remits the appropriate contributions to the System, with said service not to exceed one (1) year of creditable service in any calendar year.

For a member who has rendered membership service in the System in both a full-time and part-time capacity, the member shall receive full credit for all full-time service and prorated credit for part-time service based on the full-time equivalency of 151.7 hours being the equivalent of one (1) month of service.

In the case of School Department employees whose full-time employment requires them to work from on or about September 1st to on or about June 30th , including but not limited to cafeteria workers, clerical and secretarial staff, teacher’s assistant and teaching professionals, such as therapists, said employees shall receive one month of creditable service for each full month the employee is receiving regular compensation, with ten (10) months being the equivalent of one (1) year of creditable service. 

Please contact the Retirement Office if you have any questions about your creditable service.

Redeposit of Withdrawn Funds

As an active member, you may be eligible to redeposit a prior refund and reestablish service.  Buyback service is credited to your account when paid in full.  The Medford Retirement System offers a 5-year payment plan.  

Purchase of Prior Non-Membership Service

As an active member, you may be eligible to purchase prior non-membership service.  

Military Service 

As an active employee, you may be eligible to purchase up to four years of Military Service.