Direct Deposit of Retirement Contribution

Electronic Funds Transfer:

The Marblehead Retirement System offers its retirees the option of Electronic Funds Transfer, a safe and convenient way to receive a retirement allowance.

Electronic Funds Transfer allows for the monthly retirement allowance to be electronically deposited into the retiree's bank account, eliminating the possibility of the check being lost or stolen.

100% of the system's retirees now receive their retirement allowance this way.