HOUSE DOCKET, NO. 76        FILED ON: 7/21/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 76

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act relative to the accounting of public employee retirement systems..

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.  M.G.L. c.32, §22(3)(d) is hereby amended by inserting after subsection (iv) the following:—             

“(v)For purposes of M.G.L. c.32, §20(5)(h), M.G.L. c32, §20(5)(i), and M.G.L. c.32, §23(2A)(d) the State Board of Retirement and the Massachusetts Teachers’ Retirement Board may report outstanding pension payments that remain payable or receivable by the Board that are greater than $1,000.00, and which the Board has been unable to recover or properly pay for more than five calendar years as determined by the Board.  The Board shall maintain a record of any such amounts.”

SECTION 2. Paragraph (i) of sub-section (5) of section 20 of c.32 of the General Laws is hereby amended by inserting after the first sentence the following sentence:

“The State Retirement Board and Massachusetts Teachers’ Retirement Board shall prepare annual a report which shows the financial condition of their retirement systems as of June thirtieth of the prior fiscal year.”