Latest News

First, be sure that you really are considered part-time.  While the vast majority of members are considered full-time at either 40 or 37.5 hours per week, there are some employees who work less, and are still considered full-time.

The Cambridge Retirement Office is open as of 7:30 am on Thursday, January 29.  All retiree payments for the month of January will be issued on time.  Retirees on direct deposit will receive payments on Friday, January 30.  1099 forms for all retirees and members who received payments in 2014 were mailed on Friday, January 23.

Due to the severe weather conditions, the Cambridge Retirement Office will close at 6:00 PM on Monday, January 26th.  The office will be closed all day on Tuesday, January 27th.  At this time, we expect to reopen on Wednesday, January 28th.

At the time of retirement, all members must choose to receive their retirement allowance under one of three options.  The options are Option A, Option B and Option C.  The option that a member selects determines how much will be paid to the member each month, and what benefits will be available to beneficiaries following the member’s death.  The differences between the options is spelled out in considerable detail in the various retirement guides available here.