Yes, SUSPENSIONS is a Scrabble word!

Letter values in Scrabble US: S 1, U 1, S 1, P 3, E 1, N 1, S 1, I 1, O 1, N 1, S 1.

Is it a valid word?

SUSPENSIONS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a mixture in which fine particles are suspended in a fluid where they are supported by buoyancy
a time interval during which there is a temporary cessation of something
temporary cessation or suspension
an interruption in the intensity or amount of something
a mechanical system of springs or shock absorbers connecting the wheels and axles to the chassis of a wheeled vehicle
the act of suspending something (hanging it from above so it moves freely)
a temporary debarment (from a privilege or position etc)

Also: suspension system, temporary removal.