SENATE DOCKET, NO. 909        FILED ON: 1/19/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1387

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Michael D. Brady

_________________

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 a service based retirement option for Group 1 and Group 2 career employees.

_______________

PETITION OF:

 

Name:

District/Address:

 

Michael D. Brady

Second Plymouth and Bristol

 

Chris Walsh

6th Middlesex

1/31/2017

James Arciero

2nd Middlesex

2/3/2017


SENATE DOCKET, NO. 909        FILED ON: 1/19/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1387

By Mr. Brady, a petition (accompanied by bill, Senate, No. 1387) of Michael D. Brady, Chris Walsh and James Arciero for legislation relative to a service based retirement option for Group 1 and Group 2 career employees.  Public Service.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninetieth General Court
(2017-2018)

_______________

 

An Act relative to a service based retirement option for Group 1 and Group 2 career employees.

 

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 the provisions of any general or special law to the contrary, an employee as defined in Section 1 of the chapter 32 of the Massachusetts General Laws who is classified in either Group 1 or 2 and all political subdivisions thereof who has been a member for not less than thirty years in the aggregate shall be eligible to apply for and receive a service based retirement allowance as authorized by section five of Chapter thirty-two, using the 2.5 factor under subparagraph (a) of paragraph (2) of section five of chapter thirty-two, regardless of age, providing that the employee agrees to fully fund their pension benefit up front. The employee’s total amount due into the pension system is to be determined by  the State Retirement Board in order that the employee reach a 75% pension benefit (30 years) or 80% benefit (32+ years). The employee may use their vacation time allowance and/or sick time allowance to pay that amount so determined by the Board.