Retirement

Franklin Regional Retirement System

Franklin Regional Retirement System Site

• Benefitted employees who work 20 hours or more per week or any employee (regardless of hours per week) who previously was or is currently enrolled in FRRS
• Contribution rate determined by hire date
• Anyone hired after January 1, 1979: additional 2% will taken on any regular compensation earned over $30,000
• Non-Public Safety Members Retirement Percentage Chart (PDF)
• Public Safety Members Only Retirement Percentage Chart (PDF)
• Franklin Regional Retirement System Beneficiary Change Form (PDF)

Questions?

• Phone: 413-774-4837
• Email Franklin Regional Retirement System
• Location: 101 Munson Street (Suite 108), Greenfield, MA 01301
• Hours:
  • Monday through Thursday 
    8:30 am to 4:30 pm
  • Friday
    8:30 am to 2 pm

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Massachusetts Teacher Retirement System

Massachusetts Teacher Retirement System Site

• All public school teachers, psychologists, psychiatrists, counselors, principals, and social workers
• Contribution rate determined by "effective membership date"
• MTRS Benefits Guide (PDF)
• Massachusetts Teacher Retirement System Beneficiary Change Form (PDF)
• Change of Address Form (PDF) (Retirees ONLY)

Questions?

• Phone: 617-679-6877
• Email Massachusetts Teacher Retirement System

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OBRA (Nationwide)

• OBRA (Nationwide) Site
• Non-benefitted employees who work less than 20 hours per week, seasonal/temporary
• Minimum 7.5% of compensation deducted
• May elect to have a higher percentage or additional flat amount deducted
• Acknowledgment Card (PDF) (new enrollments or revisions to existing accounts)
• Name / Address / Beneficiary Change Form (PDF)
• Severance Payout Form (PDF)

Questions? 

• Phone: 1-877-677-3678
• Email OBRA (Nationwide)

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Additional Retirement Plans (Optional) 

The Town of Deerfield also offers the following deferred compensation plans for benefitted employees. These are all optional and are in addition to your mandatory obligations through Franklin Regional Retirement or Massachusetts Teacher Retirement Systems.

TSA Consulting Group - School Employees Only (Benefitted & Non-Benefitted)

• TSA Consulting Group Site
• Phone: 888-796-3786
• "403b is like a 401k for educators"
• Salary Reduction Form (PDF) - Enrollment form for new accounts or to make changes to current plans
• Meaningful Notice 2023
• Annual Retirement Benefits Guide 2023
• Plan Participation Guide (PDF)

Authorized Investment Providers

• American Funds - 800-421-0180
• Ameriprise Financial - 800-862-7919
• Equitable Life Insurance Company - 800-628-6673
• Horace Mann Insurance Company - 800-999-1030
• Mass Mutual Life Insurance Company - 800-272-2216

SMART Plan (Great-West / Empower Plan)

• SMART Plan (Great-West / Empower Plan) Site
• 457 Plan Overview (PDF)
• Detailed Enrollment Form (PDF)
• Simplified Enrollment Form (PDF)
• Beneficiary Designation Form (PDF)
• Representative: Dan Moroney

Nationwide

• Nationwide Site
• 457(b) Participation Agreement (PDF)
• Representative: Michael Hackleman

Note: If an employee is retired from either the Franklin Regional Retirement System or Massachusetts Teacher Retirement System and are rehired as a part-time employee, they will not have any retirement deducted from their pay