All permanent employees of the Town of Wellesley and the Wellesley Housing Authority, scheduled to work more than 1,000 hours a year, and not eligible for the Massachusetts Teacher's Retirement System, are required to become members of the Wellesley Contributory Retirement System (WCRS). The WCRS is a defined benefit retirement system. If you work long enough to qualify, you may be eligible to receive a retirement allowance based on a formula that factors in your age at retirement, your years of creditable service, and your average regular compensation.
In addition to the WCRS, the Town of Wellesley sponsors a 457(b) deferred compensation plan. This plan is designed to provide additional financial security by supplementing your Town of Wellesley pension plan through additional voluntary retirement payroll deductions.
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