Frequently Asked Questions

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Members
Am I required to become a member of the State-Boston Retirement System (“SBRS”)?
How much do members contribute to SBRS?
What happens to the money that I contribute to SBRS?
Can I borrow money from my Annuity Savings Account now and pay it back later?
What does the term “vested” mean? When am I considered vested?
Can I receive a refund of my contributions, and will I get interest on those contributions?
When am I eligible to retire?
What are the factors used to determine my retirement allowance?
What is the maximum retirement allowance that I can receive?
Are there any additional benefits to which I am entitled?
If a member dies before retiring, can the member provide for payment of a lifetime allowance to a surviving family member?
Who may a member designate as his/her Option D beneficiary?
May a member change his/her Option D beneficiary designation?
Can a beneficiary make any "make-up" payments that a member had been eligible to make?
Is a member permitted to change his/her mind about electing Option D?
Under what circumstances is a member’s Option D election superseded?
How is an Option D benefit calculated if a member dies before his/her 55th birthday?
May a member’s spouse elect to receive Option D benefits?
What if a member has already retired under Option A or B, is there a circumstance in which his/her spouse could elect to receive Option D benefits?
What benefits are payable to a member’s spouse in these situations?
How and when may a member’s spouse elect Option D benefits?
What happens if a surviving spouse does not elect Option D benefits?
Retirees
What do you need to know if I change banks for my direct deposit?
Does the Board want to know if I will be away for the winter?
Should I inform you if I change my address, change my personal status or have children?
Post Retirement Employment
Is there a limit to how much I can work and earn as an SBRS retiree?