HOUSE DOCKET, NO. 3262        FILED ON: 1/14/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2306

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act relative to Retirement Systems and Pension Calculations..

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Section 1. The definition of “Regular compensation” in Section 1 of chapter 32 of the General Laws is hereby amended by striking out the words “ ‘ Regular compensation’, during any period subsequent to December thirty-first, nineteen hundred and forty-five , shall mean the salary, wages or other compensation in whatever form” and inserting in place thereof the following words:- “Regular compensation”, during any period subsequent to December 31, 1945, shall mean the salary, wages or other compensation in whatever form, excluding any compensation paid in connection with housing, use of motor vehicles, an annuity, travel or any other benefit paid in addition to salary and wages.”

Section 2.  Said chapter 32 of the General Laws is hereby amended by adding the following section:-

Section 104.   Notwithstanding any provision of this chapter to the contrary, for employees who enter the service of the commonwealth or any political subdivision thereof on or after the effective date of this section, the maximum salary upon which a retirement allowance may be bases shall be $125,000.