Regulations and Fiscal Reports

Regulations

• All permanent employees who are employed on a regular work week for not less than thirty (30) hours within such work week shall become members of the Wakefield Retirement System.
• Creditable Service for current members employed as Traffic Supervisors shall be allowed on the basis of one year of credit for three years of employment.
• Creditable service for Call Firefighters shall be allowed on the basis of one year of credit for five years of employment, except as otherwise provided by M.G.L. c.32, s. 4(2)(b).
• All part-time, provisional, part-time temporary, temporary provisional, seasonal or intermittent employee shall not be eligible for membership in the Wakefield Retirement System.  Employees are considered temporary if they are expected to be employed for less than six (6) months.
• Notwithstanding any language in the Board’s membership regulation to the contrary, individuals who the Wakefield Police Department hire whose continued employment is contingent upon graduation from an accredited Massachusetts Police Academy or equivalent agency shall not be eligible for System membership unless and until the employee graduates said Academy.

Fiscal Reports

PERAC publishes documentation related to the fiscal condition of the Wakefield Retirement Board. You can view annual reports, appropriation letters, funding schedules, and audit and valuation reports on the official Mass.gov site by clicking here.