Section 1. Notwithstanding any general or special law to the contrary, there shall be special commission formed study and modernize the Massachusetts bay transportation system pension system. The commission shall include the secretary of transportation, a member from the union representing the Massachusetts bay transportation system appointed by the Governor, and three members with expertise in compensation in pension and retirement appointed by the governor. Said commission with examine the feasibility of moving the MBTA out of Social Security, creating a new group retirement for Massachusetts bay transportation employees, and transferring investment management to PRIM.
Said commission shall submit a report along with recommendations to the clerks of the house and senate and the joint committee on transportation by December 31, 2019.
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