SENATE DOCKET, NO. 112        FILED ON: 1/12/2009

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1094

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act relative to creditable service for school business administrators..

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

“Any member in service of the teachers’ retirement system who is employed as a School Business Administrator approved by the department of education may receive creditable service for any period or periods of work experience in the occupational field in which the members work.  No credit shall be allowed until such member has paid into the annuity savings fund of the system before any retirement allowance becomes effective for such member, in one sum, or in installments, upon such terms and conditions as the board may prescribe, makeup payments of any amount equal to 10 percent of the regular annual compensation of the member when said member entered the retirement system for each year of service so purchased.  No credit shall be allowed and no payment shall be accepted under this paragraph until the member shall have completed ten or more years of membership service.  The maximum creditable service allowed under this paragraph for any member shall not exceed three years.  Members in service of  a retirement system eligible for said creditable service under this act shall make application for said creditable service within ninety days of being notified by the retired board of their eligibility after becoming vested in the retirement system, or for currently eligible members, within ninety of the effective date of this act.”