SENATE DOCKET, NO. 1075        FILED ON: 1/20/2011

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1366

 

The Commonwealth of Massachusetts

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PRESENTED BY:

Richard J. Ross

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to the prevention of overcompensation in the higher education pension system.

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PETITION OF:

 

Name:

District/Address:

Richard J. Ross

Norfolk, Bristol and Middlesex

Robert L. Hedlund

 

Bruce E. Tarr

 


SENATE DOCKET, NO. 1075        FILED ON: 1/20/2011

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1366

By Mr. Ross, petition (accompanied by bill, Senate, No. 1366) of Tarr, Hedlund and Ross for legislation to prevent overcompensation in the higher education pension system [Joint Committee on Public Service].

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1024 OF 2009-2010.]

 

The Commonwealth of Massachusetts

 

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In the Year Two Thousand Eleven

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An Act relative to the prevention of overcompensation in the higher education pension system.

 

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. Notwithstanding any general or special law to the contrary, a commission shall be established to study current compensation practices of the state pension system for retirees from the state’s higher education system.  The goal of the commission shall be to review inordinate and excessive compensation packages, including, but not limited to, housing allowances and annuities and make a full report to the legislature with recommendations for legislation to prevent overcompensation.  The commission will consist of the Treasurer and Receiver General of the Commonwealth, or his designee; the Commissioner of Higher Education, or his designee; the Executive Director of the Pension Reserves Investment Management Board, or his designee; 3 members of the House of Representatives that are chosen by the Speaker, one of which is a member of the minority party; 3 members of the Senate, chosen by the Senate President, one of which is a member of the minority party; the Secretary of Administration and Finance, or his designee; and one member chosen by the governor.  Said commission shall submit said report back to the legislature with findings and recommendations for legislation on or before December 31, 2012.