(a) Notwithstanding the provisions of any general or special law to the contrary, any member of the teachers retirement system or any teacher who is a member of the Boston retirement system, who (i) became eligible for membership before July 1, 2001, (ii) began contributing to either the teachers’ retirement system or the Boston retirement system on or before July 1, 2001 (iii) did not provide a written election to such retirement system to participate in the alternative superannuation retirement benefit program established in paragraph (i) of subdivision (4) of Section 5 of Chapter 32 of the General Laws as appearing in the 2022 Official Edition, shall have a new 1 time opportunity to elect to participate in the alternative superannuation retirement benefit program.
(b) A qualifying member shall make the election provided under subsection (a) on or after July 1, 2023, but not later than December 31, 2023; provided, however, that a member entitled to make an election under this section who applies for retirement prior to the foregoing election period shall be given a 1-time opportunity to participate in the alternative superannuation retirement benefit program prior to retirement.
(c) A member who participates in the alternative superannuation retirement benefit program under this section shall make contributions at the rate of 11 per cent pursuant to section 22 of chapter 32 of the General Laws and may be required to provide make-up contributions at the rate of 11 per cent, upon such terms and conditions as the relevant retirement system may require, from the date that such member established membership in the teachers’ retirement system or the Boston retirement system.
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