Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. The retirement system of the city of Chicopee is hereby deemed to have accepted the provisions of section twenty-two D of chapter thirty-two of the General Laws; provided, however, that notwithstanding the provisions of the first sentence of subdivision (1) of said section twenty-two D, said retirement system may adopt a funding schedule established under said subdivision (1) of said section twenty-two D which would set forth total annual payments in any of its first six fiscal years which are less in any such year than the total estimated cost of benefits to be paid in such year for such system or for such other assumed liabilities; and provided, further, that said retirement system shall not be subject to the provisions of paragraph (e) of subdivision (4) of said section twenty-two D.
SECTION 2. Notwithstanding the provisions of clause (i) of paragraph (c) of subdivision (7) of section twenty-two of chapter thirty-two of the General Laws or any other general or special law to the contrary, the amounts determined by the actuary of the public employee retirement administration on or before December fifteenth, nineteen hundred and ninety as the required payments into the pension fund of the retirement system of the city of Chicopee for the fiscal year commencing July first, nineteen hundred and ninety-one, in accordance with said clause (i), shall be revised in accordance with the amount required in an actuarial funding schedule which fulfills the requirement of section one and has been approved by said actuary. Such revised amount shall be in accordance with an approved actuarial funding schedule; provided however, that any such schedule shall be submitted to said actuary on or before November first, nineteen hundred and ninety-one and the resulting revised appropriation shall be issued by said actuary no later than December fifteenth, nineteen hundred and ninety-one.
SECTION 3. This act shall take effect upon its passage.
This Bill having been returned by His Excellency the Governor with his
objections thereto in writing (see Senate 1798) has been passed by the
Senate, the objections of His Excellency the Governor to the contrary
notwithstanding, two-thirds of
the Senate (27 yeas to 2 nays) having agreed to the same.
Passed by the House of Representatives, notwithstanding the objections of
His Excellency the Governor, two-thirds of the members
present (104 yeas to 29 nays) having approved the same.