HOUSE DOCKET, NO. 14 FILED ON: 10/21/2022
HOUSE . . . . . . . . . . . . . . . No. 14
So much of the recommendations of the Public Employee Retirement Administration Commission (House, No. 8) as relates to provide for payment of creditable service. Public Service. |
The Commonwealth of Massachusetts
_______________
In the One Hundred and Ninety-Third General Court
(2023-2024)
_______________
An Act to provide for payment of creditable service.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Paragraph (b) of subdivision (1) of section 4 of chapter 32 of the general laws, as appearing in the 2020 official edition, is hereby amended in line 15 by inserting after “provided,;”:
that before the date any retirement allowance becomes effective for him, he pays into the annuity savings fund of the system in one sum, or in installments, upon such terms and conditions as the board may prescribe, make-up payments of an amount equal to that which would have been withheld as regular deductions from his regular compensation had he been eligible for membership and been a member of such system during such previous period, together with buyback interest; provided further,