Plan Summary
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Plan Summary
Dedham Contributory Retirement System is a defined benefit plan that provides retirement, disability and survivor benefits to approximately 350 retirees and 460 active employees within the town and housing authority of Dedham.
The Dedham Retirement System is governed by Massachusetts General Laws c. 32 and 34B. It operates as a qualified plan under section 401(a) of the Internal Revenue Code and sets forth the benefits, contribution requirements, accounting and funds structure for all retirement systems.
Systems Assets & Funding
The assets of the Dedham Retirement System are accumulated from three sources: member contributions, investment returns and governmental appropriations. Member contributions are the contributions that you make to the retirement system during your membership.
The Dedham Retirement System maintains these contributions in an annuity savings account, and the system pays interest on these contributions. They are invested in the Pension Reserves Investment Trust (PRIT) Fund. The returns on those investments account for a portion of the system’s assets. The annual appropriations from the town and housing authority fund the system as well.