Withdrawal of Accumulated Deductions

  1. Frequently Asked Questions about Refunds
  2. Pre-Tax Rollover Acknowledgement Form
  3. Special Tax Notice & Application for Withdrawal of Accumulated Total Deductions (Refund Form)

REQUESTING A REFUND OF YOUR RETIREMENT CONTRIBUTIONS

Individuals interested in refunding their accumulated deductions must complete and return an Application for Withdrawal of Accumulated Total Deductions (Refund Form). Please be advised, the form may be completed electronically, however, wet signatures are required, and the original, fully signed document must be returned to our office via hand-delivery or First Class Mail to the Fitchburg Retirement System, 718 Main Street, Suite 310, Fitchburg, MA 01420. Please do not return this form electronically, as the document contains personal information, and City emails are subject to the Public Records Law. 

Only pages 7 -15 need to be printed and returned to our office. The Special Tax Notice on pages 1 – 6 is for your records and should not be returned to our office.

IMPORTANT NOTICE

Please note, if you are currently in or plan to accept a position in the service of the Commonwealth or any political subdivision thereof of which would entitle you to become a member of any similar contributory retirement system, your accumulated deductions must be transferred to said system and would not be eligible to be refunded.

Please be aware that if you take a refund of your retirement contributions, you will terminate your membership and your rights in the Fitchburg Retirement System. If you later return to Massachusetts public service on or after April 2, 2012, after receiving a refund, YOU WILL BE CONSIDERED A NEW EMPLOYEE AND WILL BE SUBJECT TO THE LAW THEN IN EFFECT. If you became a member prior to April 2, 2012, and you take your money out of the System, you will be subject to changes in the law brought about by Chapter 176 of the Acts of 2011, including but not limited to the following:

• A new age factor table that will require you to work longer for the same or similar benefit that you would receive under the previous law.

• An increase in the salary average period used in the retirement benefit calculation formula from 3 years to 5 years.

• An increase in the minimum retirement age from age 55 to 60 (Group 1 only).