Retirement

Eligible employees are required to enroll with either the City of Lowell Retirement Plan or the Massachusetts Teacher's Retirement Plan [eligibility requirements vary with each plan]. Both are defined benefit plans.

Employees deemed ineligible for either of the above plans will be automatically enrolled in the OBRA 457 plan administered by ING.

Supplemental [retirement annuities] tax sheltered annuities or 403[b] plans are available to eligible employees. Payroll deduction authorization is needed. The details about each plan are available from the companies that offer them. The payroll Department at Central administration can provide a list of the companies we work with in the System.