SENATE DOCKET, NO. 1494        FILED ON: 1/17/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1533

The Commonwealth of Massachusetts

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PRESENTED BY:

Cindy F. Friedman

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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 retirement options for retirees.

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PETITION OF:

SENATE DOCKET, NO. 1494        FILED ON: 1/17/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1533

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-First General Court
(2019-2020)

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An Act relative to retirement options for retirees.

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, a member who is receiving a lesser retirement allowance in accordance with the terms of Option (b) or Option (c) from a retirement system that accepts the provisions of this act, or a survivor as defined in section 12B of chapter 32 of the General Laws who is receiving a lesser retirement allowance from a retirement system that accepts the provisions of this act, shall receive the following increases:-

(1) a retired teacher of the Boston or Massachusetts Teachers Retirement System, who retired prior to July 2004 and who took an Option (b), shall have the teacher’s retirement allowance increased by $542;

(2) a member of the state retirement system or from a retirement system that accepts the provisions of this act, who retired prior to July 2004 and took an Option (b), shall have the member’s retirement allowance increased by $395;

(3) a retired teacher of the Boston or Massachusetts Teachers Retirement System, who retired prior to July 2004 and took an Option (c), shall have the teacher’s retirement allowance increased by $1800;

(4) a member who took an Option (c) from the state retirement system, or from a retirement system that accepts the provisions of this act, and retired prior to July 2004, the member shall have his retirement allowance increased by $1200;

(5) a survivor of a member who was a teacher of the Boston or Massachusetts Teachers Retirement System and who retired prior to July 2004, shall have the survivor’s allowance (b) increased by $1200; and

(6) a survivor of a member of the state retirement system, or from a retirement system that accepts the provisions of this act, who retired prior to July 2004, shall have the survivor’s retirement allowance increased by $900.

For purposes of this act, the State Teachers’ and State Employees’ Retirement Systems shall be deemed to have accepted the provisions of this act.